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Twitter CEO Says Bitcoin Will Be the World's 'Single Currency' In 10 Years (theverge.com)

Posted by BeauHD on from the one-for-all dept.

In a recent interview with The Times, Twitter and Square CEO Jack Dorsey said he believes that bitcoin will become the world's single currency within 10 years. "The world ultimately will have a single currency, the internet will have a single currency," said Dorsey. "I personally believe that it will be bitcoin." Dorsey went on to say that the transition would happen "probably over ten years, but it could go faster." The Verge reports: That Dorsey is a fan of bitcoin isn't too surprising, though. In addition to serving as the CEO of Twitter, Dorsey is also the CEO of Square, which recently added the option to buy and sell Bitcoin directly from the Square Cash app. The company also released an illustrated children's story touting the benefits of the digital currency. As for Dorsey himself, he's gone on the record in an interview with The Verge's own Lauren Goode about the benefits of bitcoin as a currency, describing it as the "next big unlock" for the world of finance. (Dorsey owns an unspecified amount of the cryptocurrency.)

3 of 256 comments (clear)

  1. Should investigate early onset dementia by gweihir · · Score: 4, Informative

    Because he seems to be suffering from it. Alternatively, he bought a lot and now is trying to pump the exchange rate.

    --
    Most ACs are not even worth the keystrokes to insult them. Be generically insulted by this and ignored otherwise.
  2. Re:OK by Anonymous Coward · · Score: 3, Informative

    in other words, he wants to cash-out his own bitcoin holdings but is pissed the market is down significantly from its all time high; so he's using his position as square c.e.o. to try to boost it... sounds like the sec should take a really close look at him.

  3. Oh come on by Bruce+Perens · · Score: 5, Informative

    This is the same guy whose company is banning cryptocurrency ads.

    I guess that means he's holding bitcoin and is worried about it.

    Even the bitcoin fans will tell you why that won't work. Crazy overhead to validate transactions, limited number of transactions, overall currency limit.

    And the big reason, which is that it's not money. It's just a fantasy. OK, I think dollars are a fantasy too, but cryptocurrency takes all of the problems of fiat currency and amplifies them.

    --
    Bruce Perens.