Twitter CEO Jack Dorsey Predicts Bitcoin Will Become the World’s ‘Single Currency’
Jack Dorsey commented in a recent interview with The Times of London about his high expectations for cryptocurrencies. He predicted, “The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin.”
Dorsey is the CEO of both Twitter and Square, companies that have recently had very different levels of support for cryptocurrencies. Last week Twitter announced that it plans to ban cryptocurrency advertisements on the platform, following the footsteps of Google and Facebook. Alternatively, Square is now offering bitcoin trading in their square cash app.
Dorsey claims the transition to new world currency will occur “probably over ten years, but it could go faster,” a statement that The Verge calls “an extremely unrealistic projection.”
He did concede, “It’s slow and it’s costly, but as more and more people have it, those things go away. There are newer technologies that build off of blockchain and make it more approachable.” By newer technologies, he is, of course, referring to apps like his own Square Cash.