Jack Dorsey Calls Bitcoin a ‘Big Part’ of Twitter’s Future as a Global Currency
Twitter CEO Jack Dorsey says that bitcoin will be a big part of the company’s future. “If the Internet has a native currency, a global currency, we can move much faster with products like Super Follows, Commerce, Subscriptions, Tip Jar, and we can reach everyone on the planet,” he said.
Bitcoin will become a big part of Twitter
Twitter announced on Thursday its quarterly earnings that beat analysts’ forecasts. During the company’s second-quarter earnings call, CEO Jack Dorsey said that bitcoin will be a “big part” of the company’s future.
Dorsey said during the call: “There are three relevant trends for Twitter and you, our shareholders: artificial intelligence, decentralization and the Internet finally having access to a global native currency in bitcoin. All of this will help us to do our job better and we intend to lead the way in each one ”.
During the Q&A portion of the call, Douglass Anmuth, an analyst at JPMorgan Chase & Co., asked Dorsey how he sees bitcoin becoming more integrated on Twitter, particularly around some of the newer products like Super Follows. and Spaces, and how they can do it, driving both Twitter engagement and monetization over time.
“I’ve been tweeting and talking about Bitcoin a lot,” Dorsey replied. “Focusing on the internet use case that you have a native currency and that Bitcoin is probably the best, it is actually known to be the best candidate for that position, that’s what I think we should really focus on.”
The CEO added: “If the Internet has a native currency, a global currency, we can move much faster with products like Super Follows, Commerce, Subscription, Tip Jar, and we can reach everyone on the planet because of that instead of adopting a market-by-market approach. “In addition, he opined:
I think this is a big part of our future. I think there is a lot of innovation above currency, especially if we think about decentralizing social networks more and offering more economic incentives. So I think it’s very important to Twitter and to Twitter shareholders that we continue to analyze the space and aggressively invest in it.
“There is an obvious need for this and I appreciate it. And I think that an open standard that is native to one of them is the right way to go, which is where, why from my focus, our focus, should be on Bitcoin. So I think it allows speed. It enables a lot more innovation and really opens up completely new use cases for everyone on Twitter, ”he opined.
Last week, Dorsey said his other company, Square Inc., is building a new business focused on “decentralized financial services” using bitcoin.
Dorsey was also recently featured speaker at the “B Word” bitcoin event alongside Tesla and Spacex CEO Elon Musk and Ark Investment Management (Ark Invest) CEO Cathie Wood.
Companies that know and know the potential of bitcoin are gradually creating new opportunities for users, it is a matter of time for cryptocurrencies to occupy a preponderant place in the investment portfolio of many connoisseurs of this technology. expected for new announcements.
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