'Unite a deeply divided country': Twitter CEO Jack Dorsey on future of Bitcoin

While most of the countries are trying to decrypt the language of cryptocurrency, Twitter co-founder and CEO Jack Dorsey has affirmed that bitcoin will “unite a deeply divided country”. He often takes part in conferences on cryptocurrencies as he strongly believes that digital currency is the future. 

The Twitter CEO's active participation in Bitcoin discussion referring to uniting countries is pointed at the US regarding the controversial crypto amendment on a $1.2 trillion infrastructure bill. 

As of August 10, the Bitcoin price in India was around Rs. 34.45 lakhs, up 4.13 percent from its last close at Rs. 33.02 lakhs.

Jack Dorsey's take on Bitcoin

Addressing the 'The B-Word' conference organized by the Crypto Council for Innovation in July, Twitter CEO had said, “What really drove my thinking and drives my passion behind it is, if the internet has a chance to get a native currency, what would that be? To me, it's Bitcoin because of those principles, because of its resilience.”.

While at the Bitcoin 2021 conference in June, Dorsey had said, “If (Bitcoin) needed more help than Square or Twitter, I would leave them for Bitcoin". 

In early June, he had said that Bitcoin was for everyone as the product brings a non-custodial solution to the global cryptocurrency market. Referring to his financial payments start-up, Square, he informed that the company is looking forward to creating a hardware wallet for Bitcoin. 

US Senate passes $1.2 trillion infrastructure bill

On August 10, the U.S. Senate voted 69-30 to pass the $1.2 trillion infrastructure bill with a crypto reporting requirement provision. With many people raising concerns over the bills, Senator Pat Toomey from Pennsylvania has referred to it as “unworkable".

While Senator Mike Lee from Utah had warned earlier stating, “It’s going to have a chilling effect on innovation within this sector … Places outside the United States may well be the ones to reap the benefit associated with the laws here in the United States if we adopt an unproven, untested, unknown strategy. What you’ll see is the flight of innovation, and investments related to innovation, to offshore locations around the globe".

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