The CEO of one of the world’s largest social media outlets sees Bitcoin as the future. He plans to integrate it into the platform.
The quarterly report and its message
On July 22, Jack Dorsey delivered Twitter’s Q2 2021 earnings report to shareholders. On this occasion, the CEO of the popular social media platform also touched on a number of issues that indicate the direction in which it is headed. As it turns out, the main topic of conversation was Bitcoin and its upcoming integration. Dorsey sees a lot of possibilities in the leading cryptocurrency, which is best illustrated by his own words:
“I think Bitcoin has a big part of our future. I think there’s a lot of innovation beyond just the currency, especially when we think about decentralizing social media and providing more economic incentives. It’s hugely important for Twitter and Twitter shareholders to continue to look at the space and invest in it aggressively.”
According to Jack Dorsey, the full acceptance of Bitcoin as the currency of the Internet is a potential significant benefit to Twitter. This would result in an instant expansion of the platform’s products, such as subscriptions, trading, and even the Super Follow option.
Jack Dorsey and his involvement in cryptocurrencies
It has not been known for a long time that for the CEO of Twitter Bitcoin is of great importance. Dorsey has been famous for his support of the cryptocurrency market for years. It is worth noting that he is also the CEO of Square, which is one of the companies that keeps part of its financial reserves in BTC. Thanks to this, Square is among the largest publicly listed investors in cryptocurrencies.
Dorsey is also initiator of the market development. Through the aforementioned company, he plans to build a new cryptographic hardware wallet. It is supposed to be easy to use and consequently help the global adoption of cryptocurrencies. It is also creating a dedicated platform for developers. Its premise is to launch decentralized financial projects based on BTC. All this based on open-source solutions.
What does Twitter CEO’s announcement mean for Bitcoin and platform users
It’s safe to say that Jack Dorsey’s words are something we could all expect sooner or later. His involvement in the world of cryptocurrencies is so strong and obvious that the connection between Twitter and Bitcoin was only a matter of time. In fact, it still remains one, as what Dorsey presented is only a plan. However, given the fluidity with which he is moving into action, we can expect it to be implemented soon. Twitter is a platform hosting 330 million monthly active users. Introducing Bitcoin to them as a possible form of payment for services would fulfill a mission Dorsey has long championed – it would serve to advance adoption.