Jack Dorsey warns about Bitcoin, thrashes Facebook’s Libra

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Vineet Chaudhary
Vineet Chaudhary
Vineet Chaudhary is a content writer with computer applications as his background field. His interests range from writing and photography to going out for trips and rides on weekends.

Bitcoin is the world’s most used digital currency, and some people support it and some don’t. However, Bitcoin found an unusual cheerleader in the supporting clan. Jack Dorsey, the CEO of micro-blogging platform Twitter, has been supportive in using Bitcoin.

Jack Dorsey was working on a little project himself, Square, a payments company that was found by him and is steering towards the usage of crypto. Bitcoin has climbed around 200% in 2019 as several large companies have shown interest in Bitcoin and other cryptocurrencies because of the trends and news available on Twitter and Facebook.

Dorsey has however now warned the people that bitcoin cannot be considered as a functional currency. He still believes that Bitcoin will be a better option as compared to Facebook’s digital currency, Libra.

He further says that the peaks and drops of the currency are just like that of gold and it can be considered as a good investment asset. The improvements needed in Bitcoin are to make it more usable and accessible as a currency as it’s not there yet.

Jack Dorsey is currently on a tour of the country of Australia to promote the launch of Square. He has been talking to the Australian media and believes that Bitcoin will be still considered as a better option and will be adopted widely.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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