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Twitter CEO Jack Dorsey stated that Bitcoin will become an important part of the company’s future. “If the Internet has a local currency, a global currency, we can move faster through products such as super attention, business, subscription, Tip Jar, etc., and we can reach everyone on the planet,” he said.
Twitter announced quarterly earnings that exceeded analyst expectations on Thursday. In the company’s second quarter earnings conference call, CEO Jack Dorsey stated that Bitcoin will become an “important part” of the company’s future.
Dorsey said on the conference call: “There are three trends related to Twitter and you, our shareholders: artificial intelligence, decentralization, and the Internet can eventually use Bitcoin as a global local currency. All of these will help us better After completing the work, we intend to be a leader in every item.”
In the Q&A section of the phone, Douglass Anmuth, an analyst at JPMorgan Chase & Co., asked Dorsey how he sees Bitcoin’s increasing integration into Twitter, especially around some of the newer products such as Super Follows and Spaces, and how they can grow over time Over time, promote the participation and monetization of Twitter.
“I have been talking about Bitcoin on Twitter,” Dorsey replied. “Focusing on the use case of the Internet owning a local currency, Bitcoin may be the best, and it is actually known to be the best candidate for this role. This is what I think we should really focus on.”
The CEO added: “If the Internet has a local currency, a global currency, we can move faster through products such as super attention, business, subscription, Tip Jar, etc., and we can reach everyone on the planet. Because instead of using a market-by-market approach.” He further believes:
I think this is an important part of our future. I think there are many innovations besides currency, especially when we consider more decentralized social media and provide more economic incentives. Therefore, I think it is very important for Twitter and Twitter shareholders that we continue to focus on this area and actively invest.
“Obviously it needs to be appreciated and appreciated. And I think one of the native open standards is the right way, that’s my focus…our focus…should be placed on Bitcoin, why. So I I do think it allows speed. It allows more innovation, and it does open up entirely new use cases for everyone on Twitter,” he believes.
Last week, Dorsey stated that his other company, Square Inc., is developing a new business that focuses on “decentralized financial services” using Bitcoin.
Dorsey also recently served as guest speakers at the Bitcoin event “B Word” with Tesla and Spacex CEO Elon Musk and Ark Invest CEO Casey Wood.
What do you think of Twitter saying that Bitcoin will become an important part of its future? Let us know in the comments section below.
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