‘Bitcoin will Replace the US Dollar’, Twitter’s Jack Dorsey

In a recent Twitter exchange, with Grammy award-winning rapper Cardi B, former Twitter CEO Jack Dorsey said today that Bitcoin will replace the US dollar. Cardi B asked on Twitter if crypto would replace the US currency to which Dorsey replied, “Yes, Bitcoin will.”

Bitcoin will Replace the US Dollar

The Twitter interaction between Cardi B and the tech billionaire about cryptocurrency replacing the dollar prompted massive reactions on the social media platform. Dogecoin co-founder Billy Markus posted a meme about how Dogecoin is more stable than the US dollar. While Bitcoin investor Dennis Porter pointed out that “such a conversation was actually inevitable.”

Dorsey left Twitter last month to focus on fintech firm Block, formerly known as Square—making Parag Agrawal, the new CEO of Twitter, who is now heavily involved in decentralised projects in the company.

Earlier, in October, Dorsey said that Block is looking to build a BTC mining system based on custom silicon and open source for individuals as well as businesses. This would add to Square’s existing BTC-focused projects including a business to build an open developer platform, as well as a hardware wallet for the cryptocurrency.

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“If we do this, we’d follow our hardware wallet model: build in the open in collaboration with the community,” Dorsey said in a tweet. A team led by Square’s hardware lead, Jesse Dorogusker, will investigate requisites for Square to take on the project to build a bitcoin mining system.

Dorsey is a BTC investor. His love for cryptocurrency dates back to 2017 when he started advocating Bitcoin as the king coin. When the crypto market crashed in 2018, Dorsey was unfazed, calling bitcoin the future world currency, despite the digital currency being at its lowest point in several years. In March 2019, Dorsey had said that he spends several thousand dollars each week to buy BTC.

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‘Bitcoin will Replace the US Dollar’, Twitter’s Jack Dorsey via @marketinvestor
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