Author: Martin Young, CoinTelegraph; Translated by: Wuzhu, Golden Finance
Twitter co-founder Jack Dorsey said that the price of Bitcoin could reach at least $1 million by 2030, adding that its value could grow further from then.
In an interview with journalist Mike Solana on Pirate Wires on May 9, Dorsey struck an optimistic tone about Bitcoin’s long-term price action and provided more context for his abrupt exit from the board of BlueSky — a decentralized Twitter alternative he helped create in 2019.
Dorsey noted that he believes the price of Bitcoin could reach “at least $1 million” by 2030, adding that it will likely “reach and exceed that number.”
Dorsey, who currently heads financial services firm Block, noted that Bitcoin’s price isn’t actually the most interesting aspect of Bitcoin, but rather points to the collaborative nature of the ecosystem and the way it incentivizes collective efforts to strengthen the network.
“The most amazing thing about Bitcoin, aside from the founders’ stories, is that anyone who works on it, or gets paid from it, or buys it for themselves — everyone who’s working to make it better — is making the whole ecosystem better, and that makes the price go up.”
“It’s a fascinating ecosystem and story, more than anything else,” he said, adding, “It taught me a lot.”
Source: Mike Solana
Dorsey raised eyebrows earlier this week when it was confirmed that he would be leaving the board of Bluesky, a decentralized social network he helped create as an alternative to Twitter.
He said Bluesky is “essentially repeating all the mistakes that [Twitter] made,” adding that it’s not a protocol that can be considered truly decentralized. “It’s just another app,” he said.
Dorsey originally envisioned Bluesky as an open-source protocol that Twitter and other social media platforms could build on top of, separating the protocol layer from the application layer to reduce the risk of censorship.
However, he said the company is acting more like a traditional company that is starting to push for audit tools.
“Everything we wanted about decentralization, everything we wanted about an open source protocol, suddenly became a company with venture capital and a board of directors. That’s not what I wanted, and it’s not what I wanted to help create.”
Dorsey, who later deleted his Bluesky account, said the Nostr platform was an anonymous, open protocol without a company or centralized control that better aligned with his goals of resisting censorship.
On May 2, Dorsey said in a report to shareholders that his financial technology company Block will use 10% of gross profits from Bitcoin-related products to purchase more Bitcoin each month.
On May 1, it was reported that U.S. federal prosecutors were investigating Block because of documents alleging violations at the company's payment divisions Square and Cash App.
