Jack Dorsey, the founder of Twitter, recently expressed his belief that Bitcoin will surpass one million dollars and continue to rise in value beyond that by the year 2030. Dorsey emphasized that Bitcoin’s decentralized nature is its most significant 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 once was, his optimism about Bitcoin remains strong. In a recent interview, he discussed his departure from Twitter, his involvement with the decentralized Twitter alternative BlueSky, his thoughts on censorship and regulation, and his relationship with Elon Musk. Towards the end of the interview, Dorsey shared his thoughts on Bitcoin and his expectations for its future.
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, experiencing a 2.76% increase for the day. Its trading volume has also recovered by 8% and reached $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. Fortunately, it found support and bounced back, transforming the previous resistance trendline into support.
Dorsey is not the only one who holds a positive outlook on Bitcoin’s future. Pantera Capital, a crypto investment firm, predicted that Bitcoin would reach $114,000 by August of next year. Other bullish predictions include $170,000 by Anthony Scaramucci and $150,000 by mid-next year by Bernstein.
During the interview, Dorsey emphasized that Bitcoin is more than just its price. While the price may attract many people, he believes that the true value of Bitcoin lies in the contributions made by individuals who work on it, get paid in it, or buy it for themselves. According to Dorsey, every effort to improve the Bitcoin ecosystem enhances its overall value and leads to price appreciation.
Since leaving Twitter, Dorsey has focused on his other company, Block, a financial services firm that has made substantial investments in Bitcoin. He continues to advocate for the adoption and support of Bitcoin applications and educational initiatives globally.
In conclusion, Dorsey finds the Bitcoin ecosystem and movement fascinating and believes that it has taught him a great deal.
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