Twitter and payment giant Block (formerly Square) founder Jack Dorsey recently stated at an event in Italy that he believes Bitcoin could become a substitute for the US dollar. In addition, in an interview in May, he predicted that Bitcoin could reach $1 million by 2030.
Jack Dorsey, the founder of social media platform Twitter (now known as X) and payment giant Block (formerly Square), has been focusing on the development of Block and the Bitcoin ecosystem since stepping down as CEO of Twitter in 2021.
As a staunch believer in Bitcoin, Jack Dorsey recently stated at an event in Italy that he believes Bitcoin has the potential to become a substitute for the US dollar. He further added:
“In my opinion, the Internet will have a native currency. I think Bitcoin is the best manifestation of that thus far. I can’t see that changing given all the people who want the same thing and build it for that potential.”
Furthermore, in an interview with Pirate Wires in May, Jack Dorsey stated that by 2030, Bitcoin will surpass $1 million. Although $1 million is far from the current price of Bitcoin at $55,000, other prominent figures in the industry have expressed similar prospects. Cathie Wood, CEO of Ark Invest, predicts that Bitcoin will reach an astonishing $3.8 million by 2030, while Robert Kiyosaki, author of “Rich Dad Poor Dad,” stated in a recent post that Bitcoin will reach $10 million during the bull market that will start in 2025.
On the other hand, Bruce Fenton, CEO of Chainstone Labs and host of the Satoshi Roundtable conference, criticized Jack Dorsey for allowing censorship during his tenure as CEO of Twitter. Bruce Fenton further stated that he does not want Jack Dorsey and his company, Block, to be involved in the development of the Bitcoin ecosystem because their values contradict the freedom and decentralization of Bitcoin.