Bitcoin to replace the US dollar: Jack Dorsey

Rapper Cardi B asked if crypto will replace the dollar?

Jack Dorsey                                 
Jack Dorsey speaks at the digital fair dmexco in Cologne, Germany, September 2017 - Photo:Alamy
                                

Bitcoin (BTC) will replace the US dollar, Jack Dorsey told rapper Cardi B on Twitter.

Cardi B asked her followers if they think crypto is going to replace the dollar, to which Dorsey replied: “Yes, Bitcoin will.”

Dorsey, co-founder of Twitter and Square, is a well-known crypto enthusiast. He once told bitcoin2021 in Miami, the largest ever crypto gathering: “If I were not at Square or Twitter I’d be working on bitcoin.”

In November, Dorsey resigned as Twitter CEO, 15 years after co-founding the company in 2006. Parag Agrawal has stepped into his shoes, having been Twitter’s chief technology officer (CTO) for four years. Prior to that, he spent six years as a software engineer at the company.

Dorsey’s resignation from Twitter did raise plenty of questions, but one certainty is that Dorsey now has more time to commit to cryptos, specifically bitcoin.

Square recently announced it's rebranding to Block, in a reference to blockchain, adding to Dorsey’s reputation as a crypto supporter.

As of yet, Dorsey has made no official announcement in regard to what he may do after leaving Twitter, and he remains CEO of Square (Block).

CoinMarketCap’s reaction to Cardi B

CoinMarketCap, a website that tracks the prices of cryptos such as BTC and ethereum (ETH), also responded to Cardi B, tweeting a GIF of movie character Austin Powers saying “Yeah, baby, yeah!”

One Twitter user did say that due to the spread of Covid-19, people are using cash less, leading the way for cryptos to replace the dollar. However, critics of crypto also responded by saying that cryptos will never be able to replace the US fiat currency.

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