Jack Dorsey Supports Bitcoin: It’s A “Global Standard For Money Transmission”

It’s been just revealed that Jack Dorsey is strongly supporting Bitcoin following the crypto market’s latest crash. Check out what he has to say about the king coin below.

Regarding the price of the most important digital asset, at the moment of writing this article, BTC is trading in the red and the king coin is priced at $29,217.

The latest reports note that the former Twitter CEO Jack Dorsey is standing firm on his belief in Bitcoin (BTC).

He is saying that it will eventually be the global standard for money transmission and the native currency of the internet.

According to a new report by CNBC, which is also revealed by the online publication the Daily Hodl, the CEO of payments platform Block outlined how the future of the company will reflect his confidence in Bitcoin.

He also made sure to explain the fact that Block will no longer be known only as a payments platform. It seems that it has plans to incorporate Bitcoin more heavily going forward.

Dorsey described Bitcoin as the “open standard for the global transmission of money.”

He also explained that it would allow Block’s operations to move much faster, according to CNBC.

“[Bitcoin’s] development may feel slow relative to other candidates, but that’s a result of the deliberateness required to preserve the attributes necessary for money storage and transmission.”

He continued and stated this:

“[The] internet requires a currency native to itself, and in looking at the entire ecosystem of technologies to fill this role, it’s clear that Bitcoin is currently the only candidate.”

The other day, we were revealing that another important name praises Bitcoin.

Scott Melker is talking about the fall of LUNA, the coin that shook the crypto space like there’s no tomorrow. recently. Check out the latest reports about his thread on Twitter.

Here’s the tweet that he shared on his social media account:

I’m still pissed about LUNA.

— The Wolf Of All Streets (@scottmelker) May 18, 2022

He continued and posted this message: “Terra USD, the algorithmic stablecoin that collapsed in early May, may be a prime example of expunging crypto speculation due to a broader bear market, with implications for the price of Bitcoin. The fact that the Terra USD peg was dependent on the stability of the Luna.”