Twitter CEO Jack Dorsey reveals surprise Bitcoin plan after Elon Musk sparked crypto price chaos with Ethereum and Dogecoin backing – –

Twitter CEO Jack Dorsey reveals surprise Bitcoin plan after Elon Musk sparked crypto price chaos with Ethereum and Dogecoin backing – –

The bitcoin community applauded Tesla

Billionaire Elon Musk’s dive into crypto this year.
Musk sharply increased the price of bitcoin when Tesla’s surprise bitcoin bet was announced in February, but his bizarre Twitter

persona and the growing support for Ethereum and memes-based dogecoin have since annoyed bitcoiners.

Now Twitter CEO Jack Dorsey, a longtime funder, has revealed that it was “only a matter of time” before Twitter or its fledgling decentralized social network project Bluesky incorporated the payments in bitcoin and not replacing Elon Musk as the new Bitcoin billionaire. champion.

Register now for Billy Bambrough’s CryptoCodexa new free daily newsletter that keeps you up to date and gives you a head start in the market. Arrives in your inbox at 7 a.m. ET every day of the week

MORE FORBESCrypto Price Alert: JPMorgan Issues Stark Bitcoin Warning Like Ethereum, Binance BNB, Cardano and Dogecoin Slide

“It’s only a matter of time,” Dorsey, who also runs the payments company Square, replied to a bitcoin fan account on Twitter who asked him to “build [the bitcoin lightning network] in BlueSky or Twitter. “

The Lightning Network allows bitcoin to be sent through a payment protocol built on top of the bitcoin blockchain and is designed to help the network scale, reduce fees, and speed up transactions. Interest in the Lightning Network was boosted this month by news that El Salvador will use it to facilitate bitcoin spending online and in person now, bitcoin is its official currency along with the US dollar.

Dorsey, who told a large crowd at the Bitcoin 2021 conference in Miami last week that if he “wasn’t in Square

or Twitter, [he] would work on bitcoin, ”has since been on the offensive for bitcoin.

“If you think bitcoin doesn’t ultimately transfer power from banks and corporations (the ones you fight!) To the world’s people, you’re right, [it’s] inutile », Dorsey replied via Twitter to influential US Senator Elizabeth Warren who called for a “crackdown on environmentally damaging cryptocurrencies” that use energy to solve “unnecessary and complicated math problems.”

Dorsey, who avoided so-called altcoins like Ethereum and Musk’s pet project dogecoin in favor of bitcoin, last year added some 8,000 bitcoins, worth $ 170 million to the era, at the Square treasury.

CryptoCodex-Help you understand the world of bitcoin in a nutshell

MORE FORBESTop Trump fundraiser calls for radical overhaul of US voting system using blockchain

Dorsey has repeatedly endorsed bitcoin over the past few years, going so far as to claim that bitcoin has the potential to become the only currency in the world by 2030 in a 2018 interview with the London Times newspaper, and took on the role of chief Bitcoin booster that Tesla’s Elon Musk has apparently abandoned.

Last week, Musk appeared to distance himself further from bitcoin after he canceled support for Tesla’s bitcoin over environmental concerns in May and posted a series of somewhat satirical dogecoin memes.

“I pretty much agree with Vitalik,” Musk wrote on Twitter, responding to a broad YouTube interview with Ethereum co-founder Vitalik Buterin by AI researcher and podcaster Lex Fridman.

In the interview with the de facto leader of Ethereum, Fridman asked if it would be possible to upgrade dogecoin to “beat bitcoin hands down”, as Musk once suggested – with Buterin saying, ” If doge somehow wants to bridge Ethereum and then people trade doges thousands of times a second … that would be amazing. “


Please enter your comment!
Please enter your name here