Jack Dorsey, co-founder and former CEO of Twitter is a huge supporter of Bitcoin. He is known to be a Bitcoin evangelist and is one of the prime socially influential whales in the community.
Jack stepped down from Twitter to dedicate his time and effort into growing his other company Square. Square is a digital payments company based in Silicon Valley. Jack has major plans to adopt Bitcoin into Square by enabling crypto transactions and other blockchain functionalities. Jack’s clear signalling on his fascination for blockchain and cryptocurrency as he changed the company’s name to “Block”.
Jack has left Twitter in good hands with the current CEO Parag Agarwal who was previously the CTO since 2017. They have hired a skilled dedicated team for adopting cryptocurrency onto the popular social media platform. They will tap into the potential of Web 3.0. Twitter plans to construct Dapps (decentralised apps) for creators to manage their virtual goods, currencies and so on. They are also developing a method to verify and display NFTs as a profile picture to stand out from others.
Today, Jack replied to a tweet by popular rapper, Cardi B, that Bitcoin would replace the US dollar.
This aggressive prediction led to the price of Bitcoin shooting up immediately. As a domino effect, this further boosted the price of Ethereum and other major cryptocurrencies.