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Bitcoin will replace the US Dollar: Jack Dorsey

In the world of crypto, there’s no dearth of opinions, both in support and against the technology. This time, it’s from the ex-CEO of Twitter, Jack Dorsey saying that Bitcoin will soon replace the U.S. Dollar.

In an interaction between the former Twitter CEO and Grammy award-winning rapper Cardi B, Jack gave away his views about Bitcoin replacing U.S Dollar. Cardi B asked Jack whether crypto would replace the dollar.

Last month, Jack Dorsey had left Twitter to focus on its fintech platform, Block. Initially known as Square, Block is a financial and payment services platform based in San Fransisco.

The current CEO of Twitter, Parag Agarwal, heavily focuses on decentralized projects in the company. Previously, Jack had stated that his fintech firm is focusing on a Bitcoin mining system based on a custom silicon. Moreover, the following system would be open-source so that individuals and businesses can develop their iterations.

Also, this will see the addition of Square’s bitcoin-focused projects, which includes a business for an open developer platform. Besides this, the projects also include a hardware wallet for cryptocurrencies.

Jack had tweeted at that time about the hardware-based crypto wallet model:

“If we do this, we’d follow our hardware wallet model: build in the open in collaboration with the community.”

Square’s hardware lead, Jesse Dorogusker, will investigate and determine the platform’s prerequisites to build a bitcoin mining system.

Jack Dorsey has been a big advocator of Bitcoin, and his interest in it started back in 2017. At that time, he advocated Bitcoin as the king coin. After the 2018 crash, Dorsey called Bitcoin the “future world currency”.

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