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Sunday, March 25, 2018

Twitter CEO Praises Bitcoin After Banning Other Cyrptocurrencies


Twitter had recently banned cryptocurrency ICO's from their advertisement platform (Google banned cryptocurrencies and Facebook did as well), but now CEO of Twitter, Jack Dorsey has publicly praised Bitcoin and the blockchain.


Twitter CEO publicly stated that, "The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin. While the shift may take place over a period of ten years, it definitely is a big possibility."

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Dorsey and Twitter have a very negative view about ICO's as there has been more hysteria about scams and thieves within the market (which can happen). Initial coin offerings (ICOs) are very risky but can be very lucrative or very beneficial for businesses and investors, but some ICO project may never actually succeed in their goals, or some are out right terrible schemes. It's truly a gamble but many businesses have made their decisions about investing in ICO's.

I think Jack Dorsey supports bitcoin and using his role as CEO of Twitter to pave the way for Bitcoin, his public support for Bitcoin may change things.