Former Twitter CEO, Jack Dorsey, has backed Bitcoin to replace the US Dollar in the coming years. The technological entrepreneur made his stance known via Twitter on Monday. ayokinews.com reports
Dorsey reaffirmed his support for Bitcoin and cryptocurrencies in his reply to Cardi B’s tweet. The American rapper posted a question that caught the attention of many. She said; “Do you think crypto is going to replace the dollar?”
While various followers aired out their opinions, Dorsey’s comment stood out. Jack Dorsey boldly projected that Bitcoin will replace the dollar.
Yes, Bitcoin will— jack (@jack) December 21, 2021
In a Bitcoin conference this year, Dorsey claimed crypto has changed everything for him and he takes it as the most important thing to work on. He is the current CEO of Block. The company has reportedly invested about $400 million dollars in Bitcoin.
The Block co-founder also talked about Web3. He described Web3 as a centralized entity bearing a different label. He also warned his followers to curb their excitement about Web3 as he further advised them to know what they were getting into. Dorsey strongly believes that Venture Capitalists and Limited Partners will control the Web3 ecosystem.
Is Bitcoin The Future Of Finance?
While Dorsey and many other public figures have fully embraced Bitcoin and Cryptocurrencies, the speculative asset has still been heavily criticized in recent times.
The government of various countries have strongly opposed the flagship currency, and several influential individuals have talked down on the asset.
The volatility of cryptocurrencies has been one of the main reasons for the criticisms. Despite these negatives, crypto fans like Dorsey still regard Bitcoin as the future of money and finance. It is yet to be known if these projections made by crypto fans will actually play out in the coming years.