Jack Dorsey, founder of the payment giant Block (formerly Square), stated at a recent event in Italy that he believes Bitcoin could potentially become an alternative to the US dollar. Additionally, in an interview in May, he predicted that Bitcoin could reach one million dollars by 2030.
**Summary:**
Bitcoin plummets below $54,500, Ethereum drops below $2,850, resulting in 80,000 people liquidating two billion dollars.
**Background:**
Rich Dad: Bitcoin, gold, and the stock market are on the verge of the biggest crash in history, with a new bull market not expected until 2025.
**Table of Contents:**
– Bitcoin Will Replace the US Dollar
– Predicting Bitcoin Will Reach One Million Dollars by 2030
– Bitcoin OG Criticizes Jack Dorsey’s Censorship Policies Contradicting Bitcoin’s Values
After resigning as the CEO of Twitter in 2021, Jack Dorsey, the social media giant X (formerly Twitter) and founder of the payment giant Block (formerly Square), has been focusing on the development of Block and the Bitcoin ecosystem. As one of Bitcoin’s most loyal believers, Dorsey expressed at a recent event in Italy his belief that Bitcoin could potentially replace the US dollar. He added that in an interview with Pirate Wires in May, he stated that by 2030, Bitcoin would surpass one million dollars.
While one million dollars is a far cry from Bitcoin’s current price of 55,000 dollars, other industry notables have expressed similar prospects. Cathie Wood, CEO of Ark Invest, predicts that Bitcoin will reach an astonishing 3.8 million dollars by 2030, and Robert Kiyosaki, author of “Rich Dad Poor Dad,” even stated in a post on the 4th that Bitcoin will reach 10 million dollars in the bull market starting in 2025.
On the other hand, Bruce Fenton, CEO of Chainstone Labs and host of the Satoshi Roundtable, criticized Jack Dorsey on the 6th on social media platform X for allowing censorship policies during his tenure as CEO of Twitter. Fenton further stated that he does not wish for Dorsey and his company (Block) to participate in the development of the Bitcoin ecosystem, as the company’s values contradict Bitcoin’s principles of freedom and decentralization.
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