Twitter co-founder Jack Dorsey foresees bitcoin’s price skyrocketing to at least $1 million by 2030, and possibly even beyond, as he discussed in a recent interview with journalist Mike Solana on Pirate Wires.
Dorsey, who is now leading the financial services firm Block, emphasized that bitcoin’s value goes far beyond its price, highlighting its collaborative ecosystem and how it incentivizes improvements to the network, which in turn drives its value upward.
“It’s a fascinating ecosystem and movement, more than anything else. It taught me a lot,” he adds.
Jack Dorsey’s Bullish Outlook
In the interview, Dorsey expressed his bullish outlook for bitcoin’s long-term trajectory, envisioning it reaching unprecedented heights by the end of this decade. He noted that Bitcoin’s significance lies not just in its price but in its ecosystem. Block CEO explains:
“The most amazing thing about Bitcoin, apart from the founding story, is anyone who works on it, or gets paid in it, or buys it for themselves — everyone who puts any effort in to make it better — is making the entire ecosystem better, which makes the price go up.”
Dorsey’s comments come amid a surge in interest in bitcoin investments after the regulatory approval of spot bitcoin Exchange-Traded Funds (ETFs).
Dorsey’s departure from the board of Bluesky, a decentralized social network he co-founded, also raised eyebrows recently.
Regarding this, Dorsey criticized its centralized nature and displayed his support for platforms like Nostr, an anonymous open protocol with no centralized control “like Bitcoin,” which aligns more with his vision of censorship resistance. He stated:
“I find it interesting to watch people who say they believe in [censorship resistance and free speech], but aren’t invested in learning about Bitcoin or something like Nostr.
Notably, Jack Dorsey’s $1 million prediction comes significantly earlier than Tapiero’s, who suggested bitcoin could reach that milestone around 2035 or 2038. In January, Dan Tapiero, CEO of growth equity fund 1RoundTable Partners, acknowledged the potential for bitcoin to hit $1 million.
He stated at the time: “I think Cathie has come out and said… Did she say $1 million? And I can get to those numbers too. But that might be … maybe it’s 2035 or 2038. I mean, I don’t know. Or it could be earlier.”
Dorsey’s move to reinvest in Bitcoin comes amidst scrutiny faced by Block, with reports of US federal prosecutors investigating compliance violations at its payment divisions, Square and Cash App.
Despite these challenges, Dorsey remains steadfast in his belief in Bitcoin’s future, reaffirming his commitment to its growth and development.
His recent announcement regarding Block’s reinvestment strategy further solidifies his dedication to Bitcoin’s success, where he planned to reinvest 10% of its gross profits from Bitcoin-related products back into buying more BTC each month.
As Bitcoin continues to gain traction as a legitimate asset class, Dorsey’s predictions and actions signal growing confidence in its long-term prospects. With increasing institutional adoption, the digital asset’s journey to becoming a mainstream global currency seems more promising than ever.
