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 Twitter co-founder Jack Dorsey has made a bold prediction about Bitcoin, suggesting that the cryptocurrency could reach a price of at least $1 million by 2030.
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In an <a style="color: #0000ff;" href="https://www.piratewires.com/p/interview-with-jack-dorsey-mike-solana" rel="noopener noreferrer nofollow">interview</a> with journalist Mike Solana on Pirate Wires, Dorsey expressed his bullish outlook for Bitcoin’s long-term price trajectory, stating, “I believe Bitcoin’s price could reach at least a million by 2030… hits that number and goes beyond.”&nbsp;
Dorsey, now the head of financial services firm Block, emphasized that Bitcoin’s price is not the most significant aspect of the cryptocurrency, highlighting its collaborative ecosystem instead.
Dorsey praised the collaborative nature of the Bitcoin ecosystem, noting that everyone who works on, gets paid in, or buys Bitcoin contributes to improving the entire ecosystem, ultimately driving the price up.&nbsp;
He described Bitcoin as a fascinating ecosystem and movement, which has taught him a lot.&nbsp;
Dorsey’s <a style="color: #0000ff;" href="https://defi-planet.com/2024/05/jack-dorsey-exits-blueskys-board-of-directors/" rel="noopener noreferrer nofollow">comments</a> come shortly after his exit from the board of Bluesky, a decentralized social network he helped start as an alternative to Twitter.
Bluesky was originally envisioned 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.&nbsp;
However, Dorsey expressed disappointment with Bluesky’s direction, stating that it began behaving more like a traditional company, pushing for moderation tools.&nbsp;
“Everything we wanted around decentralization, everything we wanted in terms of an open-source protocol, suddenly became a company with VCs and a board. That’s not what I wanted; that’s not what I intended to help create.” he noted in the interview.
In a <a style="color: #0000ff;" href="https://s29.q4cdn.com/628966176/files/doc_financials/2024/q1/Shareholder-Letter_1Q24_Block.pdf" rel="noopener noreferrer nofollow">note to shareholders</a>, Dorsey announced that Block would flip 10% of its gross profit from Bitcoin-related products back into buying more BTC monthly. Despite Dorsey’s optimism, Block has recently come under scrutiny, with US federal prosecutors probing the firm for <a style="color: #0000ff;" href="https://www.nbcnews.com/business/personal-finance/prosecutors-examining-transactions-block-owner-cash-app-squarc-rcna147181" rel="noopener noreferrer nofollow">alleged compliance</a> violations at its payment divisions, Square and Cash App.
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Disclaimer: This piece is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.
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The post <a href="https://defi-planet.com/2024/05/jack-dorsey-predicts-bitcoin-will-be-valued-at-one-million-by-2030/" rel="noopener noreferrer nofollow">Jack Dorsey Predicts Bitcoin will be Valued at “One Million” by 2030</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Jack Dorsey Predicts Bitcoin will be Valued at “One Million” by 2030

DeFi Planet

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