Twitter CEO Confirms He Still Buying $10K Worth Bitcoin A Week

0



Bitcoin has grown to become a mainstream asset in the last couple of years. One man who has made this possible is Twitter CEO, Jack Dorsey. Dorsey believes n the power of Bitcoin and has thus far been an evangelist. He has continually talked about the positive aspects of Bitcoin, hired full-time Bitcoin developers, ensure access to Bitcoin through his other company Square and as he most recently confirmed been a buyer.

Jack Dorsey is every week buying Bitcoin worth $,10,000. At current prices, this is more than one Bitcoin a week. Dorsey made the decision to max out his Bitcoin buys every week in Cash App a subsidiary of Square. The Cash App limit stands at $10,000.

Why Twitter CEO Loves Bitcoin

Did you know that Jack’s Twitter bio is simply the name Bitcoin? When it comes to endorsements, nothing comes better than this.

So why is the CEO so keen on seeing Bitcoin succeed. Well, simply put, he believes it will be the future of money.

Dorsey has made it clear that he believes Bitcoin can be a great alternative to fiat. Bitcoin offers unique characteristics including decentralization, short supply, and remoteness that remain unmatched to any other form of currency. There are some of the reasons that have attracted him and other millions of crypto fans to Bitcoin which has seen its market cap climb to hundreds of billions.

There are rumors that twitter favors topics related to cryptocurrency, specifically bitcoin.

Bitcoin Price At the Moment

At the time of press, bitcoin is trading at $8,800 which is about 20% gain in less than a month. Although this is this could mainly be affected by the halving the pandemic might also have something to do with the current price. This year bitcoin demand has hiked the prices to up to $15,000.

if Twitter CEO was to continue buying $10,000 for the next one year it possible he could have close to 100 bitcoins.