“I would be working on Bitcoin if I wasn’t on Square or Twitter.”
Jack Dorsey voiced the aforementioned statement at a conference, expressing his willingness to work on Bitcoin. As expected, crypto enthusiasts around the world were excited when Twitter announced his decision to step down as CEO. However, what’s next for the ex-manager? Even Changpeng Zhao from Binance is asking the same question.
well done @jack. Welcome to full time crypto? 😃
— CZ 🔶 Binance (@cz_binance) November 29, 2021
It’s worth noting that at the moment, Dorsey is still the CEO of financial services and digital payments company Square Inc. This essentially means that the Twitter Co-Founder has chosen to focus on the payments arm through the social media platform.
It’s worth noting that Twitter CFO Ned Segal hasn’t pushed for Dorsey’s crypto endorsement on the platform. Segal has previously commented that cryptocurrency investments “do not make sense right now.” The CFO said the company prefers to keep investments that are less volatile as it would otherwise have to change its policy.
On the contrary, Square is reportedly the third-largest public company holding Bitcoin. It holds about 0.5% of its assets in BTC, which is roughly 0.038% of the asset’s total supply. And as such, Dorsey’s bet on the future of Bitcoin might be Square, not Twitter.
Analyst and crypto-influencer CryptosRUs believes Dorsey can follow in the footsteps of Square and Michael Saylor.
Square had made Bitcoin-focused DeFi under TBD as part of its agenda in early July. Shortly after, Dorsey also set his sights on Bitcoin mining. Earlier this month, Square’s TBD published a roadmap for the tbDEX decentralized exchange with a whitepaper.
So why was Dorsey so affected by Bitcoin? In the past, the former Twitter CEO said:
“The reason I am so passionate about Bitcoin is largely because of the model it demonstrates: a core internet technology that is not controlled or influenced by any single person or entity.”
With these in mind, Dorsey’s resignation could have a positive impact for Bitcoin. CryptosRUs also thinks about this:
“Twitter is for him now [Dorsey] it means nothing. He wants to make Bitcoin the global currency. And now that he has so much more time, he is freer to do it.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.