Twitter CEO Jack Dorsey Made A Surprise Bitcoin Warning—While Trashing Facebook’s Libra

As reported by Forbes, “Bitcoin found a surprising cheerleader in micro-blogging platform Twitter chief executive Jack Dorsey last year–who has since begun steering his payments company Square towards crypto.

“The bitcoin price has climbed some 200% so far in 2019 as some of the world’s biggest technology companies, led by the likes of Twitter and social media rival Facebook, have expressed interest in bitcoin and cryptocurrencies.

“However, Dorsey has now warned that bitcoin ‘is not functional as a currency,’ though still thinks bitcoin is preferable to something like Facebook’s planned libra digital currency.

“‘The peaks and troughs are like an investment asset and are equivalent to gold. What we need to do is make it more usable and accessible as a currency, but it’s not there yet.’

“Dorsey, who has been talking to Australian media outlets during a tour of the country to promote Square’s launch of new payment terminals there, added he is though still convinced bitcoin will eventually be adopted more widely.”

Continue to read the full story at Forbes.

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