United States, July 24, 2021 /AlexaBlockchain/ – Bitcoin is going to be a “big part” of Twitter’s future. Twitter will integrate Bitcoin into its existing and new products and services.
Twitter CEO Jack Dorsey confirmed to investors during Twitter’s second quarter earnings call that bitcoin will be a “big part” of the company’s future.
Dorcey said he sees opportunities to integrate the cryptocurrency into existing Twitter offerings, including commerce, subscriptions and other new additions like the Twitter Tip Jar and Super Follows.
Dorsey has been one of the biggest Bitcoin advocate for years, but how it would be put into action on Twitter’s platform had not yet been revealed. This is the first time he has spoken publicly about how Twitter could integrate bitcoin into its product lineup.
“Bitcoin changes absolutely everything,” Dorsey said last month at the Bitcoin 2021 Conference. “I don’t think there is anything more important in my lifetime to work on.”
Dorsey did not stop here. He added: “if I were not at Square or Twitter, I would be working on bitcoin. If [bitcoin] needed more help than Square or Twitter, I would leave them for bitcoin,” he said. “But, I believe both companies have a role to play.”
Dorsey and rapper Jay Z launched a $23.6 million endowment called ₿trust to fund bitcoin development initially in Africa and India and announced plans to lead his other company Square into the decentralized financial services market by way of bitcoin.
Dorsey touted bitcoin to investors, saying it could help the company move faster in terms of its product expansions, while explaining that it was the “best candidate” to become the “native currency” of the internet.
“If the internet has a native currency, a global currency, we are able to able to move so much faster with products such as Super Follows, Commerce, Subscriptions, Tip Jar, and we can reach every single person on the planet because of that instead of going down a market-by-market-by-market approach,” Dorsey explained.
“I think this is a big part of our future. I think there is a lot of innovation above just currency to be had, especially as we think about decentralizing social media more and providing more economic incentive. So I think it’s hugely important to Twitter and to Twitter shareholders that we continue to look at the space and invest aggressively in it,” he added.
