And the billionaire founder and CEO of Twitter says that he wants to disrupt ‘Big Tech’ — which apparently doesn’t include his company.
Bitcoin maximalist and Twitter CEO Jack Dorsey wants you to know that he doesn’t hate Ethereum or other altcoins.
Asked “Why the ETH hate,” in a reply to an earlier comment, Dorsey said
“Focus on one thing isn’t hate of the others. I’ve made my concerns known about others in comparison to Bitcoin. Key ones are founding principles, security, and centralization.”
Dorsey has long said that he believes Bitcoin will become the “native currency for the Internet” and that it is “hugely important to Twitter
He has put his money where his mouth is. Dorsey’s other company, payments app Square, has about 5% of its assets invested in Bitcoin after several big buys. It has acquired at least 8,027 BTC as of February
— nearly $375 million as of publication — and Square’s Cash App makes the majority of its profits
from customers’ Bitcoin transactions.
That “ETH hate” comment led to another one in which Dorsey actually agreed that Ethereum “has value to lots of people. Just not what I’m focused on.”
Nor, Dorsey said in another August 12 tweet
, is he out to make money on Bitcoin, noting “I intend to give all of mine away.” [He’s made a good start
on that front, giving one quarter of his then-$4 billion fortune to fight coronavirus and support girls’ health and education in April.]
Instead, Dorsey said in that tweet, “I’m in it to help fix money.”
And to him, that means championing Bitcoin.
Bitcoin To The Rescue
Dorsey’s denial of the widespread belief
that he hates Ether came as part of a thread in which he agreed with a comment that letting all Twitter accounts have a cryptocurrency wallet capable of storing NFT token collectables would benefit Ethereum
“way more” than Twitter.
But, he added, “Every account on Twitter being able to link to a Lightning wallet however…” — which suggests that some link to the Bitcoin Layer 2 network could be in the works.
His next Twitter comment, later on August 12, was, “Disrupting ‘Big Tech’ is exactly what’s needed and what I want. No one technology alone will do that though.”
Of course, suggesting that Twitter isn’t part of “Big Tech” is a somewhat head-scratching idea, though Dorsey likely means GAFA — the tech “big four” that includes Google, Amazon, Facebook, and Apple.