Bitcoin
Jack Dorsey Says Bitcoin Will Be Worth ‘At Least a Million’ by 2030 – TradingView News
Twitter co-founder Jack Dorsey says Bitcoin’s price could reach at least $1 million by 2030, adding that its value could grow further from that point.
Speaking in a May 9 interview with journalist Mike Solana on Pirate Wires, Dorsey offered a bullish outlook for Bitcoin’s price action over the long term. BitcoinUSDas well as providing more context behind his abrupt departure from the board of BlueSky – a decentralized alternative to Twitter that he helped launch in 2019.
Dorsey told Solana that he believes the price of Bitcoin could reach “at least a million” by 2030, adding that it will most likely “reach that number and beyond.”
Dorsey – now head of financial services firm Block – noted that Bitcoin’s price isn’t actually the most interesting aspect of Bitcoin and instead pointed to the collaborative nature of the ecosystem and the way it encourages collective efforts to improve the network.
“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.”
“It’s a fascinating ecosystem and movement more than anything else,” he said before adding, “It taught me a lot.”
Dorsey raised eyebrows on May 6 when it was confirmed that he would be stepping down from the board of Bluesky, a decentralized social network he helped create as an alternative to Twitter.
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He said Bluesky was “literally repeating all the mistakes [Twitter] done”, adding that it is not a protocol that can be considered truly decentralized. “It’s another app,” he said.
Dorsey originally envisioned Bluesky as an open-source protocol that Twitter and other social media platforms could build on, separating the protocol layer from the application layer to reduce censorship risks.
However, he said the company started behaving more like a traditional company that started pushing for moderation tools.
“Everything we wanted around decentralization, everything we wanted in terms of an open source protocol, suddenly became a company with VCs and a board. This wasn’t what I wanted; That’s not what I intended to help create.”
Dorsey, who has since deleted his Bluesky account, said the Nostr platform — an anonymous, open protocol with no company or centralized control — is more in line with his censorship-resistance goals.
In a note to shareholders on May 2, Dorsey said his fintech company Block will invest 10% of its gross profit from Bitcoin-related products into purchasing more BTC every month.
On May 1, it was reported that US federal prosecutors were investigating Block after documents alleged compliance violations at the company’s payments divisions, Square and Cash App.