Twitter’s collaboration between a Grammy Award-winning rapper and a billionaire technology expert on cryptocurrencies has sparked widespread reactions to Twitter.
In a recent Twitter interview, Grammy Award-winning physician Cardi B, former Twitter chief executive Jack Dorsey said on Tuesday that Bitcoin would replace the US dollar. Cardi B asked on Twitter if crypto would replace the US currency Dorsey replied, “Yes, Bitcoin will do.”
Twitter’s collaboration between Cardi B and technology billionaire about the cryptocurrency replacement has caused a huge reaction on social media. Dogecoin founder Billy Markus has sent a meme about how Dogecoin is more stable than the American dollar. As Bitcoin investor Dennis Porter points out, “such a conversation was inescapable indeed.”
Dorsey left Twitter last month to focus on the fintech Block company, formerly known as Square-based Parag Agrawal, the new CEO of Twitter, who is now heavily involved in the company’s projects.
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Earlier, in October, Dorsey said Block was looking to build a bitcoin mining system based on custom silicon and open source for individuals and businesses. This will add to existing Square-focused bitcoin projects that include the business of building an open platform for developers, as well as a cryptocurrency hardware wallet.
“If we do this, we will follow our hardware wallet model: build in an open space in partnership with the community,” Dorsey said in a tweet. A team led by Square’s hardware lead, Jesse Dorogusker, will investigate Square’s need to take up a project to build a bitcoin mining system.
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Dorsey is a Bitcoin investor. His love of cryptocurrency dates back to 2017 when he began promoting Bitcoin as a king’s coin. When the crypto market crashed in 2018, Dorsey did not worry, calling Bitcoin the future world currency, despite the fact that digital currency is at a very low level in a few years. In March 2019, Dorsey had said he was spending a few thousand dollars each week to buy Bitcoin.
Allowing blockchain technology to become transparent in payment, Dorsey recently released a white paper for its Bitcoin— tbDEX exchange proposal. Dorsey has assured investors that Bitcoin will be a “big part” of the company’s future