Jack Dorsey Advocates for Bitcoin Use as Everyday Currency 'As It Was Designed to Be'

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

Block CEO Jack Dorsey has once again emphasized his stance on Bitcoin (CRYPTO: BTC), advocating for its use as everyday money, a vision originally proposed by Bitcoin’s creator, Satoshi Nakamoto.

What Happened: Dorsey stressed that Bitcoin’s ultimate purpose should be for daily transactions, not merely speculative trading.

“We want Bitcoin to become p2p electronic cash and everyday money, as it was designed to be,” Dorsey stated in a post on X.

Trending: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — and you can too at just $2.90/share.

Dorsey’s comments were in response to a post by Entropy Capital regarding how Block has developed a comprehensive Bitcoin ecosystem. This system comprises Square, a platform that allows merchants to accept Bitcoin payments, and Cash App, a wallet designed for quick and inexpensive transactions.

Other elements include Bitkey, a self-custody hardware wallet for offline Bitcoin storage, and Proto, a Bitcoin mining infrastructure.

Dorsey’s message is unequivocal: Bitcoin is destined to become a part of everyday transactions, and Block is strategically positioning itself to facilitate this transition.

Simultaneously, Treasury Secretary Scott Bessent has indicated that the U.S. is dedicated to exploring ways to accumulate more Bitcoin. At the time of writing, Bitcoin was trading at $118,473.47, a slight dip from its intraday peak of $119,399.29.

See Also: 2,000 High Earners Manage $6B With This AI Platform — Book Your Private Demo

Why It Matters: Dorsey’s renewed emphasis on Bitcoin’s intended use as everyday money underscores the growing acceptance of cryptocurrencies in the mainstream financial landscape.

With Block’s comprehensive Bitcoin ecosystem, the company is well-positioned to lead the charge in this transition, potentially influencing other companies to follow suit.

Furthermore, the U.S. Treasury’s interest in accumulating Bitcoin signals a shift in governmental attitudes towards cryptocurrencies, potentially paving the way for more widespread adoption and regulatory clarity.

Story Continues

Read Next:

‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30/share. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it?

Image: Shutterstock

This article Jack Dorsey Advocates for Bitcoin Use as Everyday Currency 'As It Was Designed to Be' originally appeared on Benzinga.com

View Comments