Name: Jack Dorsey plugged bitcoin during his tweetstorm about Trump. It's not as surprising as it seems: His other company, Square, owns $186 million worth of the cryptocurrency.
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Jack Dorsey plugged bitcoin during his tweetstorm about Trump. It's not as surprising as it seems: His other company, Square, owns $186 million worth of the cryptocurrency.

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Jack Dorsey Wednesday night following last week's violent riots on Capitol Hill - and he used the opportunity to plug bitcoin. In , Dorsey explained Twitter's decision late last week to President Donald Trump's account from Twitter. Dorsey said he believed the move was the right decision for Twitter, as "offline harm as a result of online speech is demonstrably real." But he also cautioned against one internet company having too much power.Amid Dorsey's explanation of Trump's ban - which was laid out in 13 tweets - he switched gears to discuss bitcoin, and why he's so passionate about cryptocurrency. —jack (@jack) Dorsey went on to say that the decentralized nature of bitcoin inspired him to fund an effort to create "an open decentralized standard" for social media, which he hopes would become the standard for "the public conversation layer of the internet." Dorsey , named BlueSky, on Twitter in 2019. Dorsey has become an impassioned supporter of bitcoin over the years, and has spoken out about it more frequently in the past several months. In October of last year, Square - the payments firm he also oversees - bought up in an effort to make the currency more accessible via Square's popular mobile payments service, Cash App. Dorsey has predicted that bitcoin will one day become the world's Read more: Earlier this month, Dorsey published slamming an attempt by US lawmakers to place stricter regulations on cryptocurrency. The would require companies to collect the personal information of those who make large cryptocurrency transactions in order to aid law enforcement in the event of an illicit transaction. Dorsey said the law was "nonsensical" and could result in privacy violations. The price of bitcoin has swelled more than 330% in the last year, but the cryptocurrency has swung wildly throughout the last few weeks: It hit an all-time high of nearly $42,000 last week before . On Wednesday, bitcoin prices rose 9%, and as of Thursday, the price is . At current prices, Square's 4,709 bitcoins are worth roughly $186 million.{{}}Email addressEnter captchaBy clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our and Copyright © 2022. Times Internet Limited. All rights reserved.For reprint rights. Times Syndication Service.

Jack Dorsey Wednesday night following last week's violent riots on Capitol Hill - and he used the opportunity to plug bitcoin. In , Dorsey explained Twitter's decision late last week to President Donald Trump's account from Twitter. Dorsey said he believed the move was the right decision for Twitter, as "offline harm as a result of online speech is demonstrably real." But he also cautioned against one internet company having too much power.Amid Dorsey's explanation of Trump's ban - which was laid out in 13 tweets - he switched gears to discuss bitcoin, and why he's so passionate about...

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Jack Dorsey plugged bitcoin during his tweetstorm about Trump. It's not as surprising as it seems: His other company, Square, owns $186 million worth of the cryptocurrency.

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