Twitter co-founder Jack Dorsey has expressed a bullish outlook on the long-term price trajectory of Bitcoin, suggesting that its value could soar to at least $1 million by the year 2030. He shared his views during an interview with journalist Mike Solana on Pirate Wires.
Dorsey believes that Bitcoin’s price has the potential to surpass the $1 million mark by 2030 and continue to rise beyond that point. He emphasized the collaborative nature of the Bitcoin ecosystem, highlighting how contributions from individuals and collective efforts to enhance the network drive its value upward.
According to Dorsey, the most remarkable aspect of Bitcoin lies not just in its price but in the ecosystem it fosters. He emphasized the collaborative efforts of those involved in improving Bitcoin, stating that every individual contributing to its development enhances the entire ecosystem, consequently driving up its price.
Dorsey recently departed from the board of Bluesky, a decentralized social network project he helped initiate. He expressed dissatisfaction with Bluesky’s direction, stating that it failed to achieve true decentralization and instead adopted a more centralized approach resembling traditional companies.
Dorsey highlighted his preference for Nostr, an anonymous, open protocol with no centralized control, over Bluesky. He sees Nostr as more aligned with his vision of censorship resistance and true decentralization.
Dorsey’s fintech firm, Block, has announced a strategy to allocate 10% of its gross profit from Bitcoin-related products to purchasing more BTC each month. However, Block has come under scrutiny from US federal prosecutors regarding compliance violations at its payment divisions, Square and Cash App.
Dorsey’s optimistic outlook on Bitcoin’s price trajectory reflects his confidence in its long-term potential. However, his departure from Bluesky and the regulatory scrutiny faced by Block underscore the challenges and complexities associated with navigating the cryptocurrency landscape.
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