Twitter CEO Jack Dorsey has now warned that bitcoin 'is not functional as a currency,' though still thinks bitcoin is preferable to something like Facebook's planned libra digital currency
However, Dorsey has now warned that bitcoin"is not functional as a currency," though still thinks bitcoin is preferable to something likeTwitter chief executive Jack Dorsey has previously said he expects bitcoin to become the internet's first native currency.Australian Financial Review"The peaks and troughs are like an investment asset and are equivalent to gold. What we need to do is make it more usable and accessible as a currency, but it's not there yet.
"I think [bitcoin is] the best bet because it's been the most resilient, it's around for 10 years, it has a great brand and it's been tested a bunch," Dorsey said. Dorsey's Square revealed last month it generated $125 million in bitcoin revenue in the second quarter of 2019.Meanwhile, Dorsey said he would not be supporting Twitter rival Facebook’s libra cryptocurrency, which Facebook boss Mark Zuckerberg wants to launch some time next year, if he can get global regulators on board.
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