The CEO of Square and Twitter – Jack Dorsey – recently made an appearance on the Joe Rogan Experience podcast. During the podcast, Jack Dorsey said that the internet will definitely have a currency in the near future, and he thinks the currency that will be in charge of the internet will be Bitcoin (BTC).
“I Think Bitcoin (BTC) Will Be the Currency of the Internet”
The Joe Rogan Experience podcast boasts of more than four million subscribers. Making a debut on the podcast, the CEO of Twitter said that he is very convinced that the internet was moving towards having a native currency. For Dorsey, Bitcoin (BTC) – which is the largest digital currency in the world by market cap – seems best suited for that position.
Speaking on the possibility of Bitcoin (BTC) becoming the currency of the internet, the CEO said:
“I believe the internet will have a native currency one day and I don’t know if that currency will be Bitcoin. I think the currency will be Bitcoin (BTC) because of all the tests it has been through and the principles behind it, and how it was created. Bitcoin (BTC) was something that was born on the internet, it was developed on the internet, it was tested on the internet, and it is of the internet.”
This is not the first time Dorsey is making such a remark, he has done a similar thing in the past. Back in May last year, Dorsey commented that Bitcoin (BTC) should be the native currency of the internet. Hence, the CEO said that the focus of Square is only on Bitcoin (BTC) with no current plans to offer support for other digital currencies on the Square Cash Application.
Bitcoin (BTC) Aids Financial Inclusion
During the podcast, Dorsey explained that Bitcoin (BTC) introduces a unique dimension to the goal of creating easier access to financial services. Expatiating on the decision of Square to offer support for the famous digital currency, Dorsey said it gave the firm the ability to serve more people all over the world much better than using mainstream channels.
The CEO likened the internet to a single country that exists digitally. Hence, it only makes sense that the country would have its own currency that is accepted across the globe. Today, fiat currencies are often subject to nationalistic policies that might not be favorable to other countries all over the world.
However, Bitcoin (BTC) is solely based on mathematical algorithms providing a sense of neutrality and universality devoid of any political or geographical bias.
Bitcoin (BTC) Price Today – BTC / USD
Banks and other stakeholders do not like the mainstream finance towards Bitcoin (BTC), Dorsey further added. Banks and a lot of financial institutions don’t like the disruptive tendencies of Bitcoin (BTC), says the CEO of Twitter.
Earlier this year, JP Morgan analysts published a report that states that the value of Bitcoin (BTC) could only exist in a dystopian economy. Last year, Warren Buffet – a nocoiner – infamously referred to Bitcoin as “rat poison squared.” This means that the banks are the rodents.
Nevertheless, he also talked about the philosophical aspect of Bitcoin (BTC) changing the perception of people of what makes up value. For the CEO, it is crucial that people pay close attention to the emerging trends or risk being left behind.