In a surprising revelation, Twitter’s CEO has revealed that the firm could have a big use for the leading digital asset in the near future. Jack Dorsey made this revelation during the social media site’s second-quarter 2021 earnings conference call.
According to Dorsey, Bitcoin could become the native token of the internet while labeling the digital asset as the “best candidate” for the role. If this was to happen, it would mean that “people and companies can freely trade goods and services anywhere on the planet.”
The Square CEO went on to buttress his point by saying that “if the internet has a native currency, a global currency, we are able to move so much faster with products such as Super Follows, Commerce, Subscriptions, Tip Jar, and we can reach every single person on the planet because of that instead of going down a market-by-market-by-market approach.”
Dorsey went on to mention that Twitter’s social media rival, Facebook, was already looking into the digital asset space with its Diem project. This he believes means “it’s hugely important to Twitter and to Twitter shareholders that we continue to look at the space and invest aggressively in it.”
His statements during the call continues his long public support for the digital gold. His other company, Square, has made enormous investments into the coin recently with different innovations planned for its future.
While Twitter is yet to announce any public acquisition of BTC, Square holds it on its balance sheet and also allows users to buy and sell the coin via Cash App.