BTC is the key to the future of social media2 min read
Twitter CEO Jack Dorsey sees the future of cryptocurrencies, led by BTC, in integration into services such as Twitter Tip Jar or Super Follows.
“BTC is the world’s largest cryptocurrency, which will have a major impact on the future of Twitter,” said Jack Dorsey.
The founder of Twitter is known to be a big fan of cryptocurrencies and especially BTC. That is also why his statements are not surprising. Bitcoin will be part of the future, which can use its potential to transform products and services like Twitter.
BTC as the basis of social media
In an interview with investors, Jack Dorsey emphasized that most BTC-supported innovations go beyond the digital currency itself. Twitter is committed to decentralizing social media and providing more economic incentives.
“I think it’s extremely important for Twitter and its shareholders that we continue to look at this possibility, and most importantly, we need to invest a lot of money in it.”
Twitter is not the only one, Facebook is preparing its own digital currency
Dorsey further noted that Twitter is not the only social media company to address this issue. He highlighted Facebook in particular, which is working hard to develop their own digital currency, while the mere introduction of a cryptocurrency called Diem should be later this year. The difference, however, is that Twitter focuses only on BTC and not on the development of other coins.
“BTC must be recognized. And I think that’s the right way to go. So, in the end, our focus will only be on BTC. “
The announcement from Dorsey came just after he had interviews at the virtual event “The ₿ Word”, where he and Elon Musk discussed the possible integration of BTC into Twitter. Among other things, he said that if BTC were created first, it would have a major impact on today’s social media.
Jack Dorsey is one of the main proponents of BTC, who has repeatedly stated in the past that BTC will be the single currency of the Internet from 2018. He owns Square, which invests heavily in cryptocurrencies. The last major investment in BTC came in 2020, $ 50 million, followed by another $ 170 million in 2021.
Disclaimer: This article is for information purposes only and should not be construed as investment advice.