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Jack Dorsey: Bitcoin price will reach $1 million in 2030
Twitter co-founder Jack Dorsey has long been an advocate of Bitcoin, wearing Satoshi T-shirts, donate to Bitcoin Core developers AND extolling the virtues of cryptocurrency.
He has now doubled down on his bullish attitude towards Bitcoin in an interview with Pirate threadspredicting that the cryptocurrency will reach $1 million in 2030.
When asked what price of Bitcoin it would be in 2030, Dorsey laughed: “I don’t know. Over…at least a million.” She added that, “I think it hits that number and goes beyond.”
Calling Bitcoin “a fascinating ecosystem and movement,” Dorsey said that “anyone who works with it, or gets paid to use it, or buys it for themselves, anyone who makes any effort to improve it, is improving the entire ecosystem. , which raises the price.”
Dorsey has certainly not skimped on work on the Bitcoin ecosystem, with his payments company Block invest in cryptocurrency and product development including Bitcoin wallets AND ASIC mining chips. Last month, Square, Dorsey’s retail payments product, announced it would allow stores to do this convert a portion of their daily sales in Bitcoin.
But Block did it too reportedly attracted attention by US prosecutors, with a NBC News report citing sources saying federal prosecutors are investigating “alleged widespread and years-long lapses in compliance” at the company, including the handling of crypto transactions by terrorist groups.
Jack Dorsey and social media
Most of Dorsey’s discussion with Pirate Wires focused on his ventures in decentralized social media, including his recent departure from the board of rival Twitter Blue sky and its support of the open source social media protocol Nostr.
He claimed that Bluesky was “literally repeating all the mistakes we made” on Twitter, and that it was not “a truly decentralized protocol” but was instead “a company with VCs and a board of directors.”
An influx of Bluesky users from Twitter has pushed for “moderation tools and to kick people” off the platform, Dorsey argued.
Nostr, Dorsey said, is a “truly open protocol,” adding that it “emerged from something that wasn’t driven by Twitter, it was a reaction to Twitter’s failures.” That, she said, prompted him to delete his Bluesky account so he could focus on Nostr. “I asked to leave the board too, because I just don’t think a protocol needs or wants board.”
Jay Graber, CEO of Bluesky published a response to Dorsey’s comments on the social media platform, arguing that: “With all due respect to Jack for having the vision to invest in decentralized protocols, we’ve done the work in a way that I don’t think he fully understands.”
She She said that Bluesky ran an “algorithm marketplace” and that moderation on the platform is composable. “It seems like it could be Twitter because we created a protocol on which Twitter could work without drastic changes,” she said, adding that Bluesky had put decentralization “under the hood.”
Bluesky developer Paul Frazee also took issue with Dorsey’s “pure protocol” approach, discuss that “you need a real product and a real product mindset to drive development.” Frazee claimed that while Twitter was originally planned to be the first client of Bluesky’s AT protocol, Elon Musk’s detect of the social media platform “killed everything.”
For his part, Dorsey stressed that he “really respects Jay,” but that “directionally, I just don’t align” with Bluesky’s approach. “I would like to see more efforts on open protocols similar to Nostr, which hit every single attribute that I was looking for when we launched this idea,” she added.