Twitter Founder Eyes Bitcoin to Replace US Dollar

Liputan6.com, Jakarta – Jack Dorsey, co-founder of Twitter (now X) and CEO of Block (formerly Square), has expressed his views on the chances of Bitcoin (BTC) replacing the United States (US) dollar.

Quoting News.bitcoin.comMonday (8/7/2024) at a recent event in Italy, Dorsey said that over time, people will realize the value and power of Bitcoin, which he sees as a possible alternative to the US dollar.

“It's going to take time, but little by little people are going to see the value of this system and why it's so powerful and why it has the potential to complement or replace the U.S. dollar that rules everything and is being challenged by the Chinese yuan,” Dorsey said.

He explained that the US dollar and the Chinese yuan are two entities that already control the value of money and cannot be avoided.

“Whereas (with) Bitcoin, you have a lot more control and you have a lot more free agency around it,” Dorset explained.

Previously in May 2024, Block's chief executive predicted that the price of Bitcoin could soar to USD 1 million or around IDR 16.2 billion by 2030.

This prediction is driven in part by the progress and investment his company, Block, has made in Bitcoin technology.

He stressed that bitcoin's decentralized nature provides a level of freedom of choice that traditional fiat currencies cannot offer.

His optimistic outlook reflects the belief that as more people understand and adopt Bitcoin, its role in the global financial system will become increasingly significant.

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