On Tuesday, Dorsey once again threw his weight behind
Bitcoin, the world's oldest and largest cryptocurrency that has been showing
some signs of recovery after lurking around $31,000 throughout July. The
Twitter CEO, who has ‘#Bitcoin' in his bio on the micro-blogging site, wrote,
“#Bitcoin will unite a deeply divided country".
Dorsey added, “and eventually: world”, although putting the
next sentence in brackets. This is the second time within a month when Dorsey
has lent support to Bitcoin.
In July, speaking at the “The B-Word” conference, organised
by the Crypto Council for Innovation, Dorsey said that what inspired him the
most about Bitcoin was the community driving it. It reminds him of the
internet, he said.
“What really drove my thinking and drives my passion behind
it is, if the internet has a chance to get a native currency, what would that
be? To me, it's Bitcoin because of those principles, because of its
resilience,” Dorsey said at the conference where Tesla CEO Elon Musk and ARK
Invest CEO Cathie Wood also took part.
When asked what influences or shapes his opinion of Bitcoin,
the Twitter CEO repeated that it was the network and the community that drove
his support.
In June, at the Bitcoin 2021 Conference, Dorsey's words were
no different. He said that digital currency had changed absolutely everything,
adding there was nothing more important than working on it.
It might surprise many, but he even went on to say that if
he weren't at Square or Twitter he would be working on Bitcoin. “If [Bitcoin]
needed more help than Square or Twitter, I would leave them for Bitcoin,” CNBC
reported him as saying.
Dorsey's comments and support for Bitcoin come despite the
volatility that accompanies digital currencies and other concerns raised by
many experts in and out of the industry.
On June 4, AFP reported Dorsey as saying that his financial
payments start-up Square was mulling over creating a hardware wallet for
Bitcoin, and added that if the company decided to do it, they would do it in
the open and in collaboration with the community.
Among his guiding principles for the wallet, he said that
Bitcoin was for everyone, adding that it was important to build an inclusive
product that brings a non-custodial solution to the global cryptocurrency
market. Much respect to everyone who has gotten us this far, he said.