Bitcoin
Jack Dorsey predicts Bitcoin will rise to $1 million by 2030
Last updated: May 10, 2024 02:06 EDT | 1 minute reading
Tech leader Jack Dorsey is betting big on Bitcoin, predicting a price explosion to more than $1 million by 2030.
As Pirates’ Threads Mike Solana asked his opinion on the future value of Bitcoin, Dorsey said: “I don’t know. More than… at least a million. I think it reaches that number and goes beyond.”
Still, the price of the crypto asset itself takes a backseat to Dorsey, who reiterated that his main fascination with Bitcoin lies in other aspects.
“The most amazing thing about Bitcoin, besides the founding story, is that anyone who works on it, or gets paid for it, or buys it for themselves – everyone who strives to make it better – is making the entire ecosystem better. , which makes the price go up,” he said in the interview published Thursday. “It’s a fascinating ecosystem and movement more than anything else. It taught me a lot.”
Dorsey is not alone in predicting that Bitcoin will reach remarkable heights. CEO of Ark Invest Cathie Wood Also Sees a $1 Million Valuation for Bitcoin by 2030. Additionally, Jurrien Timmer, director of global macro at Fidelity Investments, projected a seven-figure range for Bitcoin estimating that it will fall between US$1 million and US$10 million in 2030.
Dorsey abandons Bluesky for repeating Twitter ‘mistakes’
This week, former Twitter CEO Dorsey revealed that got down from the Bluesky board. The platform, designed for 2019, aims to be a decentralized social media alternative.
“Everything we wanted around decentralization, everything we wanted in terms of an open source protocol, suddenly became a company with VCs and a board,” he told Pirates Wire. “That’s not what I wanted, that’s not what I intended to help create.”
He attributed his departure to Bluesky’s path, saying he was “literally repeating all the mistakes [Twitter] done as a company.”
Dorsey further revealed that his real focus is on Nostr, another decentralized platform that challenges Twitter. He said he wanted to support the development of Nostr as a genuine open source protocol.
Jack Dorsey’s Block Announces Strategic Monthly Bitcoin Purchases
Dorsey is currently head of payments company Block, which is doubling down on Bitcoin. Last week, the company announced a new strategy to invest 10% of profits from your Bitcoin products in buying more Bitcoin every month.
Block was one of the first public companies to invest in Bitcoin, with an investment of US$220 million in 2020. The company’s Bitcoin holdings increased by 160%, reaching US$573 million at the end of the first quarter of 2024.