Associated Press
- Jack Dorsey has tweet stormed about his love of bitcoin.
- "I don’t see it as an investment," he wrote. It’s a "currency."
- It’s a strong endorsement for the cryptocurrency that’s had a rough 12 months.
- He added: Bitcoin will "probably be the native currency."
Twitter CEO Jack Dorsey has restated his love of bitcoin.
In a strong endorsement of a cryptocurrency that’s had a rough 12 months, Dorsey said he holds bitcoin and he thinks it’s the future of money.
"I don’t see it as an investment," he wrote in a flurry of tweets on Tuesday. It’s a "currency," he added.
In messages and responses to crypto fans, Dorsey outlined his reasoning: "Bitcoin is resilient. Bitcoin is principled. Bitcoin is native to internet ideals. And it’s a great brand."
He added: Bitcoin will "probably be the native currency."
It’s not the first time Dorsey has noted his admiration for bitcoin. His fintech company Square has supported bitcoin for nearly five years, adding the currency to its Cash App in early 2018, letting users send bitcoin to one another. "Would love to see a digital currency thrive," Dorsey tweeted in 2016.
Investors in the digital currency saw its price explode in 2017 as cryptomania swept over the world. Bitcoin began 2017 worth less than $1,000 a coin, before soaring more than 2,000% to a high of $19,511. However, the year of 2018 was a different story. See the chart below:
Markets Insider
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Source: Business Insider