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21 Dec, 2021 11:21

Jack Dorsey names US dollar replacement

Jack Dorsey names US dollar replacement

The co-founder and former CEO of Twitter Jack Dorsey has once again expressed his unwavering support for Bitcoin, saying that the world’s most valuable cryptocurrency would replace the US dollar.

Dorsey shared his views on the future of the virtual currency via an exchange on Twitter with Grammy Award-winning rapper Cardi B. After she asked whether crypto would replace the greenback, Dorsey replied: “Yes, Bitcoin will.”

The tweet prompted a massive reaction on the social media platform, with Dogecoin co-founder Billy Markus posting a joke in an effort to prove that the meme-based crypto is much more stable than the US dollar. Meanwhile, Bitcoin investor Dennis Porter said that “such a conversation was actually inevitable.”

Dorsey has been expressing his support for Bitcoin since at least 2018. In August, he tweeted that “Bitcoin will unite a deeply divided country. (and eventually: world).”

After leaving Twitter in November the tech billionaire focused on his fintech firm Block, formerly known as Square. In October, he said that Block was looking to build a Bitcoin-mining system based on custom silicon and open source for individuals and businesses. Square’s existing Bitcoin-oriented projects are represented by a business to build an open developer platform and a hardware wallet for the cryptocurrency.

READ MORE: Jack Dorsey steps down as Twitter CEO

Dorsey is also investing in Bitcoin. He called it the future world currency even after the crypto market crashed in 2018. In March 2019, Dorsey said that he’d spent several thousand dollars each week to buy the digital currency.

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