Twitter CEO Jack Dorsey Says He Invests $10000 in Bitcoin Every Week

08. Mar 2019 Posted by Akolkar B on News

Appearing on the latest podcast show Tales from the Crypto, Twitter founder and CEO Jack Dorsey said that he invests $10000 every week in Bitcoin, as part of the effort to support the mass adoption of the world’s largest digital currency.

Dorsey said that he has joined the popular trend named “Stacking Sat Saturday” wherein Bitcoin supporters buy $25 worth of BTC to show the growing support for the digital currency. Dorsey stated that he “[he] saw that [Stacking Sat Saturday] on Twitter […] I would have participated but I have already exceeded my limit on CashApp. I can’t purchase anymore.”

Besides Twitter, Jack Dorsey also heads the mobile payments platform Square Inc. The platform also allows crypto investors to purchase digital currencies through its CashApp. Dorsey didn’t explicitly quote the $10000 amount he invests but said that for this week he has already used the maximum weekly limit for crypto purchase through the CashApp which currently stands at $10000.

During the podcast episode, Dorsey also spoke about how he started experimenting with Bitcoin. Dorsey is an ardent Bitcoin supporter and last month he said that it is the sole cryptocurrency which he owns.

Jack Dorsey has several times reiterated his statement that Bitcoin will be the single native currency of the internet in the future. Last month in an interview with Joe Rogan, Dorsey said: “[Bitcoin] was something that was born on the internet, that was developed on the internet, that was tested on the internet…It is of the internet.”

In the latest podcast episode, Dorsey repeated his stand on Bitcoin saying: “What does the internet ultimately want? It will want to have a native currency, or a currency that is effectively global and exists on its territory instead of through the territories of the various nation-states that we have today. I can’t think of anything more exciting than that. It speaks to where the world is inherently going.”

Jack Dorsey is not the only business tycoon and tech entrepreneur to support Bitcoin. Tesla owner Elon Musk recently stated that he is fascinated with the Bitcoin tech and considers it as a brilliant way of transferring value.

Musk stated that “Paper money is going away. And crypto is a far better way to transfer values than a piece of paper, that’s for sure.”