The CEO of Square and Twitter, Jack Dorsey has taken to his social media page to reveal that he has interest in the crypto space. The techpreneur announced that he purchased a hardware storage device from the leading crypto wallet provider, Trezor. He used Cash App for this process.
Bitcoin (BTC) Price Today – BTC / USD
Dorsey revealed in his tweet that he spent about 0.06639 BTC on the wallet. Reports also claim that he bought the model S Trezor device.
Speculations about his actions
It is safe to assume that Dorsey bought the device for storing his BTC in preparation for the upcoming bout of mass adoption. He gave some hints about why Trezor was a better option than a ledger device.
The recent tweet with regards to the crypto space comes after he trumped up support for the digital currencies. Despite the harsh market winter, the CEO stays bullish.
Dorsey rose from a layman when it comes to the crypto space to an important member of the community. It all started when he appeared on a show to talk on several subjects that eventually led to Bitcoin. On the Joe Rogan Experience, the host brought up the crypto integration program of Square. This prompted Dorsey to speak up about it.
“The Internet will have a single native currency, which will likely be Bitcoin. It is something that was born on the internet, that was developed on the internet, that was tested on the internet. It is on the internet.”
After the podcast, the CEO started to tout BTC as well as the facets of the nascent ecosystem on his social media platform. Dorsey applauded the Lightning Network and bashed altcoins such as Ethereum and Tron. He also spoke about the merits of the projects that use the scaling solution. He has been on so many bitcoin centric podcasts and has also revealed that he has gathered more than $10,000 worth of BTC over seven days. Dorsey also spoke about how he maxed out his BTC purchasing option on Cash App.
The CEO’s involvement in the crypto industry is an ongoing story. And it is surely a good step for the digital currency industry. Many enthusiasts are hoping that the steps will lead to the acceptance of the Lightning Network by Square.
The questions on everyone’s mind now is “will bitcoin recover” and “is bitcoin dead.” Things are looking up at this time and will surely get better. What are your thoughts about this? Please comment below.