Twitter's Jack Dorsey Claims Investing $10,000 Every Week In Support of Bitcoin Mass Adoption

Bhushan Akolkar
By Bhushan Akolkar
Posted on March 7, 2019
Twitter's Jack Dorsey Claims Investing $10,000 Every Week In Support of Bitcoin Mass Adoption

During a recent podcast interview with Tales from the Crypto, long-time Bitcoin proponent and Twitter CEO Jack Dorsey claimed that he invests $10000 every week on Bitcoin. 

On the podcast, Dorsey spoke of his journey of Bitcoin adoption since the beginning and how he finds some connecting dots with his Twitter platform. Dorsey says that he has joined the popular trend “Stacking Sat Sun” wherein the Bitcoin supporters buy $25 worth of BTC every week to highlight its growing adoption. 

Dorsey said that “[he] saw that [Stacking Sat Saturday] on Twitter […] I would have participated but I have already exceeded my limit on CashApp. I can’t purchase anymore.”

Integrating Bitcoin Payments In Square

Besides Twitter, Jack Dorsey also heads the financial services and mobile payments platform Square Inc. He notes that the maximum permissible weekly limit for Bitcoin purchase through Square’s CashApp is $10,000. 

Dorsey also explained the reason behind integrating Bitcoin in Square’s Cash App. He said that the single biggest reason was to stay at the forefront of the crypto-payments movement instead of sitting idle. He said:

“I don’t want to wait around for that to happen to me or to us as a company. I want to help make it happen. That’s why getting more into bitcoin and cryptocurrency was so interesting for us.”

He added: “Apart from artificial intelligence, there’s no other technology that impacts Square more than [crypto]. So we should definitely have a well-formed opinion on what it does, and also how to contribute, how to make sure that we’re going to contribute to the goodness of it.”

Bitcoin Will Be Native Currency of the Internet

Jack Dorsey believes that Bitcoin has successfully managed to sail through all tough scenarios in the crypto market. Thus he thinks that if the internet were to have a native currency, it will be Bitcoin. 

“What does the internet ultimately want? It will want to have a native currency, or a currency that is effectively global and exists on its territory instead of through the territories of the various nation-states that we have today. I can’t think of anything more exciting than that. It speaks to where the world is inherently going.”

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