Jack Dorsey is the CEO of both Twitter and a payment service Square. As The Times reported today, Dorsey has said that he sees Bitcoin (BTC) as the world’s single future currency.
“The world ultimately will have a single currency, the Internet will have a single currency. I personally believe that it will be Bitcoin.”
According to Dorsey, the process may take “probably over ten years, but it could go faster”.
Not quite there yet
He doesn’t consider Bitcoin capable of it yet, as:
“It’s slow and it’s costly, but as more and more people have it, those things go away. There are newer technologies that build off of blockchain and make it more approachable.”
Dorsey had previously said that Square will be focusing on a development of more options to interact with Bitcoin. It will be accomplished via their Cash App.
“customers can now buy and sell Bitcoin in Cash App. We observed that this was a feature our customers wanted, and we support Bitcoin because we see it as a step in the long-term path toward greater financial access for all.”
Cash App allows users to process instant fiat transactions and free cash-outs. The instant Bitcoin buy/sell option was only available to some users at first, but since 31st January its open to all.