Twitter and Square CEO Jack Dorsey stated that there are no plans for a platform-specific “Twitcoin” cryptocurrency, noting that he will instead focus on promoting Bitcoin (BTC).
Open standards are better
According to Australian news outlet The Sydney Morning Herald’s article published on Sept. 5, Dorsey is confident that Bitcoin is still the most likely candidate to beсome the internet’s native currency. Twitter CEO noted:
Nobody understands the global economy
Dorsey visited Melbourne to take part in the launch of Square Terminal, a new point-of-sale hardware device meant to offer an alternative to the ones provided by banks. He also expressed his ideas about banks and the economy in general:
Dorsey also noted that he does not consider the idea of following the example of Facebook’s Libra and releasing a crypto dedicated to Twitter, and that he prefers using existing open standards such as Bitcoin.
Bitcoin is the best bet
Square’s mobile payments application CashApp rolled out BTC deposits in June. According to the data released in August, the company has generated $125 million in Bitcoin revenue in Q2 2019. Dorsey praised the first cryptocurrency: