Twitter chief, Jack Dorsey, when asked about the future of the fintech industry, ventured a thesis concerning Bitcoin as a global currency.
Is Bitcoin a dominant currency?
Dorsey gave an interview to The Times, in which questions about the future of Bitcoin
were discussed. The chief of Twitter is not only a well-known advocate of cryptocurrency
, but also an investor himself. He put forward a thesis saying that Bitcoin
has a chance to become a global currency both on the Internet and outside it. According to Dorsey, it has the potential to outdo the dollar as a dominant player in global finance over the next 10 years.
The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin .
Dorsey underlined that it is difficult for Bitcoin to deal with all legal issues and doubts of politicians. Nevertheless, BTC, in his opinion, will cope with all difficulties.
As more and more people have it, those things go away. There are newer technologies that build off of blockchain and make it more approachable .
Bitcoin as a protection tool for hard times?
For many months we have been observing various geopolitical clashes contributing to global currency crises. The United States competes with China
, imposing sanctions on Iran
, and Great Britain
is getting ready to leave the European Union.
All this raises discussions about what currencies are best to invest in.
Apart from gold investments, there is an increasing opinion that cryptocurrencies can be a guarantee of safe investments. Their advantage is certainly the fact that no government or world institution is able to control them. It is a common believe that many investors will direct their savings to Bitcoin and other altcoins in the event of a global crisis.