Former Twitter CEO says Bitcoin will replace US dollar
Jack Dorsey responded to an Award-winning rapper and said that Bitcoin will replace the US dollar.
Jack Dorsey was CEO of giant social media platform Twitter. Recently he resigned from his position and now he is fully working on the Block company ( formerly Square) to bring development work in the Bitcoin & blockchain inclined projects.
On 21 December, CardiB- Grammy Award-winning rapper wrote on Twitter and asked the community whether crypto may replace the dollar. Then many people responded to the Cardi B tweet.
Block founder Jack Dorsey tweeted that ” Yes, Bitcoin will”.
Yes, Bitcoin will
— jack(@jack) December 21, 2021
Past Dogecoin developer Billy Markus also responded in a comedy way. He promoted Dogecoin and said that Dogecoin is more stable than Dollar because Dogecoin has four legs.
Jack Dorsey on inflation
This is not the first time when Jack Dorsey responded to a question regarding US dollar value and stability. Before this few times, he shared his stance against the inflation of the US dollar.
Through the tweet, Jack said that hyperinflation will do everything and it will first take place in America.
Now in the present time, Jack is a full-time worker in the Bitcoin and blockchain inclined projects. Through a separate tweet, Jack hinted that he will work in the web3 based initiatives to bring decentralization in social media and the internet.
Dollar vs crypto
Many people think that crypto will easily replace the dollar but they failed to understand the property of real fiat currency and under those properties, crypto doesn’t fall perfectly.
Recently few experts shared their stance on this matter and dismissed all the statements regarding the assumptions of Bitcoin or crypto as a currency.
According to experts, Stabelcoins can be adopted as Currency under some circumstances but still, these are not much better because of small fluctuations in value and lack of regulation. And also we should consider crypto assets as tradable assets instead of currency.
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