Jack Dorsey's Ultimate Bet, 'We Are Bitcoin Only'
Jack Dorsey, former Twitter CEO and founder of Block, Inc., has placed all his bets on Bitcoin. Block is the company behind Cash App, a digital wallet offering Bitcoin and stock trading, among other financial services, to U.S. customers.
Recently, a user praised Cash App's Direct Deposit to Bitcoin service for zero-fee conversion, prompting Dorsey to write on X, "we are bitcoin only. and improving rapidly."
Dorsey is widely recognized as a Bitcoin advocate, emphasizing the need for the cryptocurrency to provide real use cases beyond being merely a store of value. He appears committed to this vision, as Cash App has integrated Bitcoin into its platform for several years now.
The billionaire is a fan of Bitcoin's permissionless model and believes its total market value could surpass $20 trillion by 2030, potentially driving the price to at least $1 million. As per Kraken's data, Bitcoin was trading at $106,109.28 at the time of writing, having recently hit an all-time high of $111,970.17. To reach Dorsey's target, Bitcoin would need an average annual growth rate of approximately 56.9% until 2030.
This article has been published in thestreet.com via Yahoo News.
