Jack Dorsey, Twitter and Square CEO, has rubbished the rumors of the launch of a platform-specific “Twitcoin” cryptocurrency, adding that he will instead invest in promoting Bitcoin (BTC).

According to a news report, Dorsey said that he is not looking to follow the example of Facebook’s Libra and release Twitter’s version of crypto. Instead, he tipped Bitcoin to turn into the internet’s native currency. He added:

“I think open internet standards serve every person better than ones controlled or started by companies.”

He also expressed his views on banks and the economy in general during a visit to Melbourne, Australia, saying that authority and control of banks were universal but more pronounced in Australia, which he claimed was always facing risk of recession after coming out of one. He warned: “… anyone who offers an opinion on this is fooling themselves. […] There’s no one person on this planet that understands the global economy.”

He reiterated his belief in Bitcoin by stating:

“I think [Bitcoin’s] 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. […] As I look at all cryptocurrencies that could fill that role of being the native currency for the internet, [Bitcoin is] a pretty high probability.”

Dorsey has been a big proponent of Bitcoin itself and has supported it on numerous occasions.


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