Jack Dorsey, the founder of Twitter, recently expressed his bullish outlook on Bitcoin in an interview. He believes that Bitcoin will surpass $1 million by 2030 and continue to rise even further. According to Dorsey, the decentralized nature of Bitcoin is its most important aspect, as it ensures that every participant in the network is a part owner and contributes to its success.
Although Dorsey may not be in the spotlight as much as he used to be, his enthusiasm for Bitcoin remains strong. In a recent conversation with Pirates Wire, he discussed his departure from Twitter, his work on the decentralized Twitter alternative BlueSky, censorship and regulatory challenges, and his relationship with Elon Musk. Towards the end of the interview, Dorsey shared his thoughts on Bitcoin and its future prospects.
When asked about his price prediction for Bitcoin by 2030, Dorsey confidently stated, “Over… at least a million. I do think it hits that number and goes beyond.” Currently, Bitcoin is trading at $62,980 with a daily gain of 2.76%. Its trading volume has also recovered by 8% to reach $26 billion.
Earlier this month, Bitcoin broke through a descending price trendline that had been in place since it reached over $73,000 in April. However, it faced resistance at $65,000 and temporarily dropped below $61,000. Nevertheless, it found support and bounced back, turning the previous resistance trendline into support.
Dorsey is not the only one who is optimistic about Bitcoin’s future. Pantera Capital, a crypto investment firm, projected that Bitcoin would reach $114,000 by August next year in a recent letter. Other bullish predictions include $170,000 by Anthony Scaramucci and $150,000 by mid-next year by Bernstein.
In the interview, Dorsey emphasized that Bitcoin is much more than its price. While the price may be what attracts many people to Bitcoin, its true value lies in its ecosystem and the contributions of its participants. According to Dorsey, anyone who works on Bitcoin, gets paid in Bitcoin, or buys Bitcoin is making the entire ecosystem better, which ultimately drives the price up.
Since leaving Twitter, Dorsey has been focusing on his other company, Block, a financial services firm that has heavily invested in Bitcoin. He continues to be a global advocate for Bitcoin, promoting its adoption and supporting applications and educational initiatives.
In conclusion, Dorsey sees Bitcoin as a fascinating ecosystem and movement that has taught him a lot. He remains confident in its future success and believes that its decentralized nature sets it apart from other assets.