Twitter CEO Jack Dorsey has explained that Bitcoin will have a big part to play in the future of his social media company.
During Twitter's second-quarter 2021 earnings conference call on Thursday, Dorsey, who is an avid Bitcoin supporter, spoke about how the world’s largest cryptocurrency could be incorporated into Twitter’s products and services. This is the first time the CEO has made an in-depth public analysis of the company’s plan to integrate the digital asset into its system.
Dorsey opined that Bitcoin is way ahead of its peers in terms of becoming the internet’s native currency, and it will go a long way in enabling investors and clients to transact business anywhere on the globe. He said:
"I think this is a big part of our future. I think there is a lot of innovation above just currency to be had, especially as we think about decentralizing social media more and providing more economic incentives. So I think it's hugely important to Twitter and to Twitter shareholders that we continue to look at the space and invest aggressively in it."
The social media giant plans to merge Bitcoin with its products like Super Follows, Commerce, Subscriptions, and Tip Jar.
Dorsey also went on to express that twitter does not stand alone in this scenario, as he gave an example of Facebook’s crypto project “Diem” which was formerly called “Libra”.
