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Twitter’s Jack Dorsey predicts Bitcoin will hit $1 million in six years

Renowned tech leader Jack Dorsey has made a bold prediction about the future of Bitcoin (BTC), saying its price could soar to over $1 million by 2030.

In an interview with Pirates Wires, Dorsey emphasized that his fascination with cryptocurrencies goes beyond their prices. He highlighted the unique ecosystem and movement surrounding Bitcoin, where everyone involved contributes to its overall improvement:

Beyond the story of the founders, the most amazing thing about Bitcoin is that anyone who works on it, or gets paid for it, or buys it for themselves — everyone who works hard to make it People who are doing better – are making the entire ecosystem better, which makes prices go up. […] It’s a fascinating ecosystem and movement, more than anything else. It taught me a lot.

Dorsey isn’t the only one bullish on Bitcoin. Ark Invest CEO Cathie Wood and Fidelity Investments global macro director Jurrien Timmer also expect the digital asset to reach a seven-figure valuation by 2030.

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In other news, Dorsey revealed that he has resigned from the board of directors of Bluesky, a decentralized social media platform he helped envision in 2019. He expressed disappointment with Bluesky’s direction:

Everything we wanted about decentralization, everything we wanted about open source protocols, suddenly became a company with venture capital and a board of directors. […] This is not what I want, nor is it what I want to help create.

Earlier, Dorsey praised Elon Musk for the way he runs X, the social media company he founded as Twitter. He said that the current approach taken by X was necessary to pursue freedom of speech.

Meanwhile, Dorsey’s payments company Block is doubling down on its commitment to Bitcoin. The company recently announced a new strategy to invest 10% of its BTC product profits into buying more Bitcoin every month.

Block was an early adopter of Bitcoin, investing $220 million in 2020. As of the end of the first quarter of 2024, the company’s Bitcoin holdings surged 160% to $573 million.

The report comes after Dorsey’s payments company Block announced plans to reinvest 10% of profits from its products into Bitcoin every month.

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