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Twitter founder Jack Dorsey has been a longtime champion Bitcoindonating Satoshi shirts, donating to Bitcoin Core developers and promoting the virtues of the cryptocurrency.
Now, in an interview with Pirate Wires, he has doubled down on Bitcoin bullying, predicting that the cryptocurrency will hit $1 million by 2030.
He asked what it was The price of Bitcoin In the year It will be by 2030, Dorsey laughed, “I don't know. Over … at least a million,” adding, “I think it's going to hit that number and go beyond.”
Dorsey called bitcoin an “amazing ecosystem and movement,” saying that anyone who works on it or gets paid for it or buys it for themselves — any effort to make it better — makes the entire ecosystem better. This makes the price go up.
Dorsey hasn't shied away from working on the Bitcoin ecosystem, investing in cryptocurrency with the payments firm and developing products including Bitcoin wallets and ASIC mining chips. Last month, Dorsey's retail payment product, Square, announced that it would allow stores to convert a portion of their daily sales into bitcoin.
But the block has also attracted the attention of US prosecutors with a report, NBC News reported, citing sources that federal prosecutors are investigating “widespread and years-long compliance deficiencies” at the firm, including the handling of crypto transactions from terrorist groups.
Jack Dorsey and Social Media
Much of Dorsey's discussion with Pirate Wires focused on his work on decentralized social media, his recent departure from the board of Twitter rival Bluesky, and his support for the open source social media protocol Nostr.
“It's literally repeating all the mistakes we've made,” Bluesky tweeted, adding that it's “not a truly decentralized protocol” and instead “a company with VCs and a board.”
The influx of Bluesky users from Twitter has pushed “moderate tools and people off the platform,” Dorsey argued.
“It's a really open protocol,” Dorsey said, “that came out of something that wasn't Twitter-specific, it was a response to Twitter's failures.” He said this prompted him to cancel his Bluesky label to focus on Nostre. “I also asked to step down from the board because I don't think protocol needs or wants a board.”
Bluesky CEO Jay Graber posted a riposte to Dorsey's comments on the social media platform, saying, “With respect for Jack's vision to invest in decentralized protocols, we've done the job in a way that I haven't.” You think he fully understands.”
She says Bluesky operates an “algorithmic marketplace,” and the moderation on the platform is adaptive. “We've built a protocol that can make Twitter work without major changes,” she said, “and it looks like Twitter can.”
Bluesky dev Paul Frazee also argued against Dorsey's “pure protocol” approach, arguing that “you need the right product and the right product mindset to drive development.” While Twitter was originally slated to be Bluesky's first client of the AT protocol, Frazee said Elon Musk's takeover of the social media platform “killed that to death.”
Dorsey, for his part, emphasized that he “really respects Jane,” but “in terms of direction, I just don't agree” with Bluesky's approach. “I would love to see more effort put into open protocols similar to ours, which touch every feature I wanted when we first started this idea,” he added.
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