I Would Leave Square and Twitter for Bitcoin if it Needed Me More

If Dorsey didn’t work on Square and Twitter, he would be doing something on the Bitcoin network, he said during the ongoing BTC conference. Additionally, he said that the primary cryptocurrency is the most important work in his lifetime.

• Speaking at the 2021 Bitcoin Conference, the CEO of Square and Twitter asserted that BTC “changes everything” for him as the freedom it represents draws him in the most.
• Moreover, he noted that “I don’t think there’s anything more important in my lifetime to work on, and I don’t think there’s anything more enabling for people around the world.”
• As previously reported, one of the companies Dorsey runs – Square – purchased $50 million dollars worth of BTC last year. He noted that as a payment service firm, Square aims to work only with bitcoin to enhance the asset’s accessibility and capabilities.

• “If I were not at Square on Twitter, I would be working on Bitcoin. If it needed more help than Square or Twitter, I would leave them for Bitcoin. But, I believe that both companies have a role to play.” – he added.

• Dorsey also touched upon BTC’s role in other people’s lives and asserted, “we don’t need banks anymore.” He believes the cryptocurrency is highly utilized in countries like Ethiopia, Nigeria, Ghana, India, and more, due to the lack of proper financial services.
• Twitter’s CEO breached the recent initiative that he and Jay-Z started, in which they started a trust with 500 BTC to fund BTC developers in Africa and India. Dorsey indicated that numerous entrepreneurs in Africa are working on payments, especially such related to bitcoin.
• Consequently, he and the legendary rapper, who “loves bitcoin,” decided to fund people worldwide.
• Dorsey noted that Square continues to support BTC development as well and breached one of the latest initiatives coming from the payment service firm. He said, “the Internet needs a native currency,” which is where bitcoin will step up.

• “The only reason why Square got into bitcoin is to that end. That’s why we don’t deal with other ‘currencies or coins’ because we are so focused on making bitcoin the native currency of the internet.”

• Shortly before going to the stage, Dorsey revealed plans that Square is “considering making a hardware wallet for bitcoin.” He noted that it would be non-custodial with the hope of serving hundreds of millions and even billions of people.

2/“No keys, no cheese.” The exchange you used to buy your bitcoin probably attends to your security with good intent, but circumstances may reveal “custody” actually means “IOU.” Deciding to take custody, and security, of your bitcoin is complicated. What’s the #1 problem here?

— jack (@jack) June 4, 2021