Jack Dorsey: Bitcoin will cost $1 million

Well-known entrepreneur and co-founder of X (formerly Twitter) Jack Dorsey gave an optimistic forecast regarding Bitcoin. He believes that by 2030 the first cryptocurrency could grow to $1 million and even surpass this price mark.

In an interview with Pirate Wires journalist Mike Solana, the entrepreneur noted that in fact the most interesting aspect of Bitcoin is not its price, but the nature of the ecosystem. Dorsey said it stimulates collective efforts to improve the network.

“The most amazing thing about Bitcoin is that everyone who works on it and puts in the effort also improves the ecosystem. In turn, this leads to higher prices,” Dorsey said.

In early May 2024, Jack Dorsey left the board of directors of Bluesky, a decentralized social network he founded in 2021. He explained his departure by saying that the service was repeating all the mistakes that were made when creating Twitter. As an alternative, Dorsey prefers Nostr, although he called it “weird and difficult to use.”

The entrepreneur said that Bluesky was initially created as an open-source protocol on which Twitter and other social networking platforms could be built. However, over time, the project acquired moderators who began to block users.

“Everything we expected to get from decentralization suddenly turned into a company with a board of directors and venture capital funds. However, this is not at all what I wanted,” Dorsey explained.

The expert said that since leaving, he has deleted his Bluesky account. Dorsey also announced his intention to use 10% of Block's bitcoin-related gross profits to purchase new coins. They plan to continue this initiative until the end of 2024.

In early May, it became known that the US Attorney's Office had opened an investigation into Block. The department is studying the financial transactions of the company’s cryptocurrency divisions for compliance with the requirements.


Source: Cryptocurrency

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