Bitcoin Destined for $1 Million by 2030, Jack Dorsey Asserts

Key Takeaways

Jack Dorsey predicts Bitcoin will surpass $1 million by 2030, crediting its community-driven development for boosting its value and ecosystem;
Dorsey discusses his departure from BlueSky, citing its shift from a decentralized platform to a traditional corporate structure with VCs and a board;
Dorsey reinforces his commitment to decentralization with support for Nostr and plans for Block Inc. to invest 10% of its monthly BTC profits back into Bitcoin.

Jack Dorsey, the co-founder of Twitter and now head of Block Inc., projects a future where Bitcoin (BTC) exceeds $1 million in value by 2030.

This prediction was shared during an interview with Mike Solana for Pirate Wires, where Dorsey also delved into his recent departure from BlueSky, a decentralized social media platform that he initiated in 2019.

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In the interview, Dorsey highlighted Bitcoin’s unique community-driven aspect, which he believes will increase its value in the future. He said:

The most amazing thing about Bitcoin, apart from the founding story, is anyone who works on it, or gets paid in it, or buys it for themselves — everyone who puts any effort in to make it better — is making the entire ecosystem better, which makes the price go up.

Dorsey also shared the details of his departure from BlueSky. He said the decision stemmed from concerns that the company was mirroring Twitter’s earlier mistakes, criticizing its shift toward a traditional corporate structure with venture capitalists and a formal board, which contradicted his vision for a decentralized platform.

He remarked that the project did not stay true to its foundational principles of an open-source protocol designed to minimize censorship risks.

Everything we wanted around decentralization, everything we wanted in terms of an open-source protocol, suddenly became a company with VCs and a board. That’s not what I wanted; that’s not what I intended to help create.

Dorsey’s commitment to the ideals of decentralization is also evidenced by his support for Nostr, a decentralized protocol that aligns more closely with his original vision for an uncensored digital environment.

Additionally, his commitment to Bitcoin, in particular, has deepened with the announcement that his company, Block Inc., plans to invest 10% of its monthly gross profits from BTC products into buying more of the cryptocurrency.

Overall, Dorsey’s narrative signals a larger shift towards embracing the collaborative and open-source nature of digital currencies. As the decade progresses, the impact of these ideologies will likely echo throughout the tech and financial sectors, potentially revolutionizing how digital assets are perceived and used worldwide.

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SOURCE: COIN JOURNAL