The CEO of Twitter had some very positive things to say about Bitcoin this morning.
He said he thinks Bitcoin will eventually become the de facto currency of the internet as well as the world's global currency.
His exact words:
"The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin."
Those are some pretty strong words and that is some pretty strong conviction!
When could this possibly happen?
Dorsey was even so kind as to give us a timeline of his expected outcomes.
According to Dorsey, Bitcoin will become the world's currency as well as the internet currency within the next 10 years, but it could be even faster.
His words:
"It would happen probably over ten years, but it could go faster."
He was quick to admit that the technology is not there currently, but it is likely coming.
Saying this:
"Bitcoin does not have the capabilities right now to become an effective currency. It's slow and it's costly, but as more and more have it, those things go away. There are newer technologies that build off of blockchain and it make more approachable."
Reading his quotes, I can't help but think he is referring to things like the Lightning Network making bitcoin much more plausible as a currency.
(Source: https://bittrex.com/Market/Index?MarketName=USDT-BTC)
Either way, reading these statements by Dorsey was a huge breath of confidence for the space and got me checking my bitcoin wallets, seeing if I should be searching for some spare change to add to them. ;)
Stay informed my friends.
Image Source:
https://qz.com/1228958/jack-dorsey-is-betting-that-bitcoin-still-has-a-future-as-digital-cash/
Follow me: @jrcornel