Join NexChange - the professional
network for the financial services
industry - and receive a free one-
year subscription to Forbes
Jack Dorsey: Bitcoin ‘Not Functional as a Currency’
One of bitcoin’s biggest advocates had some interesting words to say about the popular cryptocurrency.
Citing the Australian Financial Review (AFR), the Coin Telegraph reports that Twitter CEO Jack Dorsey does not believe bitcoin can function as a currency.
Dorsey apparently told the AFR that while he believes bitcoin will continue to be widely adopted, he feels that “it’s not functional as a currency. The peaks and troughs are like an investment asset and are equivalent to gold.”
Dorsey, an outspoken supporter of bitcoin, added that “what we need to do is make it more usable and accessible as a currency, but it’s not there yet.” He reportedly went on to say once crypto becomes the currency of the internet, Square would move away from services that simply move money around and focus more on those that add value.
Photo: JD Lasica