Jack Dorsey promised that Bitcoin will inspire him to turn Twitter into an uncensored social network. The executive said that the most important thing in his life is to work on the adoption of the cryptocurrency.
In recent days, Twitter and payments firm Square’s co-founder Jack Dorsey expressed his optimism about Bitcoin. He said that he would work on the development of the pioneering cryptocurrency if he did not work at Square or at Twitter.
Dorsey told Alex Gladstein, chief strategy officer at the Human Rights Foundation, that Bitcoin is a technology that changes absolutely everything. For that reason, he stated that he does not believe “that there is anything more important in [his] life to work on.”
“If [Bitcoin] needed more help than Square or Twitter, I would leave them [to work with the cryptocurrency]. However, I believe that both companies have a role to play [regarding Bitcoin]. I will do everything my companies and I can to make Bitcoin accessible to everyone for the rest of my life,” said Dorsey.
Bitcoin Would Give More Financial Freedom to Unbanked Communities
Gladstein asked if Bitcoin can become a network that allows unbanked people to achieve greater financial sovereignty. The billionaire assured that the pioneering cryptocurrency can create a new financial infrastructure suitable for communities that the traditional financial system neglects.
The CEO of Twitter explained that he sees Bitcoin as a way to protect himself against the devaluation of fiat currencies. Besides, he believes that the main cryptocurrency on the market can accelerate fund transfers across borders.
In that regard, he highlighted the advantages of blockchain networks for exchange between people from different countries. Likewise, he said that he does not believe that there is something else that empowers people more worldwide.
Bitcoin Could Become the Internet’s Native Currency
The executive said that he is working hard for his companies to help Bitcoin become the native currency of the Internet. He believes that an increasing number of people will be using BTC in their day-to-day life in the coming years.
His financial services company added more than USD 170 million worth of Bitcoin to his balance sheet in February. It did this after having invested in the pioneering cryptocurrency for the first time in October 2020.
The company’s financial results for the first quarter of 2021 indicate an appreciation of its Bitcoin reserve by 114.5%. That percentage is equivalent to an amount of USD 272 million of profit.
Many Accuse Dorsey of Undue Censorship on Twitter
Many people consider that Dorsey practices undue censorship of free speech on Twitter.
The businessman said that Bitcoin’s open-source model could inspire a censorship-free social media platform. In this regard, he told Gladstein that he would like to create a Bitcoin-based social network.
He commented that, by creating a new platform entirely inspired by Bitcoin, they could do the same with Twitter. Although he knows that many call him a “liar”, he promised that his platform would become censorship-free.
By Alexander Salazar