Jack Dorsey says Bitcoin will replace the dollar

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Former Twitter CEO and Block (ex-Square) CEO Jack Dorsey has said Bitcoin will replace the US dollar, once again professing his “passion” for crypto.

See: Twitter Stock soars after CEO Jack Dorsey announces he will step down Find: Twitter launches dedicated crypto team – initiative that could make digital assets the currency of the internet

Responding to a tweet from Cardi B asking, “Do you think crypto is going to replace the dollar? Dorsey said “Yes, Bitcoin will.”

This comes as no surprise as Dorsey has been a long-time Bitcoin bull, stating in January that the reason he has so much passion for Bitcoin is in large part because of the model he demonstrates: a foundational internet technology that is neither controlled nor influenced by any individual or entity, according to one tweet.

“This is what the Internet wants to be, and over time it will be more so,” he added.

In August, he tweeted that “Bitcoin will unite a deeply divided country (and eventually: the world).”

And in July, speaking at the B Word conference, a Bitcoin-focused initiative that aims to demystify and de-stigmatize mainstream Bitcoin narratives, Twitter CEO Jack Dorsey said his hope for Bitcoin, ” is that it creates world peace or helps to create world peace. “

“We all have these balance monopolies and the individual has no power and the amount of cost and distraction that comes from our monetary system today is real and it distracts attention from bigger issues. […] You correct this fundamental level and anything above it improves dramatically. It’s going to be long term, but my hope is definitely peace, ”he said at the time.

Following its most recent tweet, Bitcoin – which recently experienced a downtrend – briefly rose. This morning, Bitcoin is hovering at just under $ 50,000.

See: Bitcoin Bulls advocates for crypto as a hedge against surging inflation Find: Jack Dorsey, Elon Musk and 21 other CEOs who changed the way we live

The story continues

“Bitcoin and Ethereum have both entered vacation mode and continue to consolidate around key technical levels,” wrote Edward Moya, senior market analyst at OANDA, in a note sent to GOBankingRates. “Bitcoin continues to face a wall at the $ 50,000 level and until that level is crossed, speculators can sit on the sidelines.”

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This article originally appeared on GOBankingRates.com: Jack Dorsey Says Bitcoin Will Replace The Dollar

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