Jump to content

Dorsey Says Bitcoin Will Replace The US Dollar

Recommended Posts


Ex Twitter boss says in exchange of tweets that Bitcoin will someday replace the dollar. 


As a reply to the rapper Cardi B, asking if crypto would ever replace the US dollar, Jack Dorsey, who recently left his role as Twitter boss to concentrate on his other company Square, said: “Yes, bitcoin will.”


This is the first time that Dorsey has actually stated his view that Bitcoin will replace the dollar. Up to now he has always stopped short of uttering such a belief.

The exchange of tweets included many replies from both sides of the fence. It is well known that central banks are worried about the growth of cryptocurrencies, and the effect they may have on the stability of the fiat monetary system.

To this effect, one Twitter user replied:


Another user tweeted an opposing view:


A very polarised view over whether Bitcoin will replace the US dollar is certainly out there. However, a lot of analysts, even from the crypto camp, don't believe that replacing the US dollar is the job of Bitcoin.

Bitcoin is generally seen as an alternative to gold, as a safe store of value. The slowness of its blockchain, even with the implementation of the lightning network, would suggest that Bitcoin is nowhere near becoming a usable reserve currency.

Be that as it may, there are developments within the crypto space that could be put forward as future viable mediums of exchange that could replace fiat currencies.

Governments and their central banks are eyeing the crypto space with some trepidation in this respect, and it may well be that regulators are tasked with making sure that private crypto assets do not get in the way of centrally controlled digital assets.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. CryptoDaily


What are your thoughts and views on this? Will Bitcoin replace the US Dollar? Share and comment.

  • Like 1
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
    • Total Posts
    • Total Members
    • Most Online
      10/06/21 10:53

    Newest Member
    Joined 07/06/23 14:33
  • Posts

    • Look Ahead to 8/6/23: eurozone, Japan growth; US initial jobless claims; Crest Nicholson, MITIE earnings Growth is in focus as investors await eurozone and Japan GDP data, plus keep an eye out for US initial jobless claims ahead of the Fed monetary policy meeting next week. Crest Nicholson and MITIE post results. Angeline Ong | Presenter, Analyst and Content Editor, London | Publication date: Wednesday 07 June 2023              
    • With the price of Brent having failed between $77.50 and $78.50 three consecutive times in the past month, we will go short at $76.70 with a downside target at $72.00 and a stop-loss at $78.55 on a daily chart closing basis. Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Wednesday 07 June 2023
    • Charting the Markets: 07 June Indices grind higher. EUR/USD, GBP/USD and USD/CAD struggle to make headway. And WTI and gold trade in low volatility while wheat slips back. Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Wednesday 07 June 2023                       This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
  • Create New...