The CEO of Twitter is a great driving force behind Bitcoin, and at the Bitcoin Miami 2021 conference, he contributed his vision regarding the positive and disruptive change it brings to the global social financial system, its impact on the ecosystem, renewable energy, and more.
“Bitcoin changes absolutely everything,” said the CEO of Twitter and Square at the 2021 Bitcoin Conference.
Billionaire Jack Dorsey, co-founder of Twitter and Square, is extremely optimistic about the future of bitcoin, the largest cryptocurrency by market value.
The Bitcoin enthusiast spread more positivity about the cryptocurrency on Friday, CNBC reported.
Dorsey has argued that Bitcoin fosters global movements toward sustainability and renewable energy, and the project is part of the digital payments company’s Bitcoin Clean Energy Initiative.
Far-right political activist Laura Loomer interrupted Twitter CEO Jack Dorsey on the first day of the Bitcoin 2021 conference and accused him of meddling in the 2020 presidential election.
It happened during a discussion with Alex Gladstein of the Human Rights Foundation, when Dorsey was interrupted and booed by the far-right political activist.
For those who live in different countries around the world, Dorsey also sees bitcoin as a way to guard against currency devaluation and speed up fund transfers across borders, he explained.
In April, Square published a report with Cathie Wood’s Ark Invest saying that the bitcoin network could function as a ‘single buyer energy’ paving the way for sustainable, renewable energy-based approaches to crypto mining.
He recently tweeted that the company is considering developing a crypto hardware wallet that would give users greater control over how they store and spend their bitcoins.
Led by Jack Dorsey, Square is investing $ 5 million in building a solar-powered bitcoin mine, partnering with bitcoin technology company Blockstream on the project as debate over the environmental impact of cryptocurrencies intensifies. .
While digital payments company Square is supporting the project financially, Blockstream is providing infrastructure and expertise for the renewable energy bitcoin mining facility.
According to Dorsey, bitcoin is capable of creating a new financial system that is more inclusive and comprehensive for underserved communities, according to CNBC.
Globally, El Salvador’s President Nayib Bukele recently announced plans to adopt Bitcoin as legal tender, which would make El Salvador the first country to do so.
He also sees cryptocurrency as a way to hedge against currency depreciation and speed up international transactions for people around the world.