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Jack Dorsey Wants Bitcoin to Be the Currency of the Internet

Jack Dorsey has long been a backer of cryptocurrencies, frequently stating that he has high hopes that at least one currency will thrive in the mainstream. Now, he has clarified that he would like to be that currency to be Bitcoin.

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Jack Dorsey has long been a backer of cryptocurrencies, frequently stating that he has high hopes that at least one currency will thrive in the mainstream. Now, he has clarified that he would like to be that currency to be Bitcoin.

A Huge Fan of Bitcoin

At the Coindesk 2018 Consensus conference in New York, Dorsey admitted that his payments company, Square, have approached their plans for the future int he belief that Bitcoin will eventually be the go-to currency for the net.

I’m just approaching with the principle that the Internet deserves a native currency. It will have a native currency. I don’t know if it will be Bitcoin…

It hasn’t all been 100% backing though. Dorsey was also quick to clarify that the entire subject has been a bone of contention at Square. Indeed, while Square’s revenue from BTC was just over $34 million in Q1 2018, its purchasing costs were only $200,000 lower.

However, Dorsey remains insistent that the long-term goal for Square is still to make crypto payments both seamless and universal.

We want to go back to that original idea of being able to purchase a coffee with it. And that’s why we’re working with Lightning Labs… This technology is a fundamental shift to our world and can have so many positive outcomes.

Do you see Bitcoin becoming the currency of the Internet? Is Jack Dorsey right? Let us know your thoughts.

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