Twitter co-founder Jack Dorsey is ambitious Bitcoin came to the fore with his prediction. Dorsey claimed that BTC will reach a value of $1 million by 2030.
Shortly before Dorsey expressed these views in a recent interview, he attracted attention by leaving the board of directors of Bluesky, a Twitter alternative.
Jack DorseyWhile emphasizing Bitcoin’s potential for exponential value growth, he also drew attention to the importance of its collaborative ecosystem. In fact, he emphasized that beyond just price speculation, the collaborative work individuals do to develop the network also increases its value. Dorsey’s views on Bitcoin’s ecosystem come as he leaves BlueSky, expressing frustration with its descent into a more centralized structure that contradicts his original vision of an open-source protocol.
Bitcoin Investment and Regulatory Review
Amid Dorsey’s bullish predictions for Bitcoin, Block’s commitment to buy BTC for 10% of the gross profits from BTC-related products attracted attention. But the optimistic news comes amid news that US federal prosecutors are investigating Block for alleged compliance violations at its payments divisions Square and Cash App.
Regulatory scrutiny is therefore clouding Dorsey’s fintech firm, which continues to predict Bitcoin’s potential rise by 2030. This sheds light on the complexity of venturing into the crypto market amidst both opportunities and challenges.
Bitcoin’s price has remained resilient over the past 24 hours, holding steady at $62,745 despite ongoing regulatory concerns in the crypto market. However, a weaker dollar and soft US labor data provided some support.
