Jack Dorsey, Twitter’s CEO, has expressed a positive outlook on Bitcoin tipping during the company’s earnings call. This is one of several signs that mainstream adoption may be around the corner for cryptocurrency.
In a recent earnings call, Twitter CEO Jack Dorsey said Bitcoin’s role in the world of cryptocurrency is going to be huge. What does this mean for holders and users of Bitcoin?
Jack Dorsey, the CEO of Twitter, has reiterated a positive outlook on Bitcoin tipping during an earnings call. Jack stated that he believes Bitcoin is “a great way to build trust and create value.”
Twitter was the first major social media network to implement Bitcoin (BTC) tipping in September, allowing users to donate BTC directly to their favorite content providers using the site’s native interface. Users may also transmit their BTC using the Bitcoin Lightning Network, which ensured near-instant settlement times.
During the company’s third-quarter results call on Oct. 26, Dorsey responded to an analyst’s query about how cryptocurrencies fit into the company’s wider global strategy:
“It [Bitcoin tipping] provides for a significant increase in speed.” Both memberships for tipping are new. These are goods that we want to make sure, once again, that we began small and found the appropriate product that people want to continue with, and that they’re assessing every day. Then we’ll grow it and continue to work on the product as we push it out to more and more people.”
Dorsey predicted that the firm will ultimately include Bitcoin tipping into business operations, such as agreements with platform advertising. The number of monetizable Twitter users has increased by 13% year over year to 211 million globally.
Square, a financial services company created by Dorsey, revealed ambitions to develop an open source bitcoin mining environment earlier this month. Dorsey noted at the time that the company’s purpose was to assist further decentralize Bitcoin so that the technology’s distributed resiliency could be increased.
The “what was bitcoin worth in 2012” is a question that Jack Dorsey answered during the earnings call. He reiterates a positive outlook on Bitcoin tipping and how it can be used to solve problems like poverty, lack of access to banking services, and more.
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