Jack Dorsey, the founder of Twitter, recently expressed his strong belief in the future of Bitcoin. In an interview, he predicted that the cryptocurrency will surpass one million dollars by 2030 and continue to rise beyond that.
Although Dorsey is no longer in the spotlight as he once was, his optimism towards Bitcoin remains unwavering. During the interview, he discussed various topics, including his departure from Twitter, his involvement with decentralized Twitter alternative BlueSky, censorship issues, and his relationship with Elon Musk. However, he concluded the conversation by sharing his thoughts on Bitcoin and its future prospects.
When asked about his price prediction for Bitcoin by 2030, Dorsey confidently stated, “Over… at least a million. I do think it hits that number and goes beyond.”
Currently, Bitcoin is trading at $62,980, with a daily gain of 2.76%. Its trading volume has also recovered by 8% and reached $26 billion.
Earlier this month, Bitcoin broke through a descending price trendline that had been in place since its peak of over $73,000 in April. However, it faced resistance at $65,000 and temporarily dropped below $61,000 on Thursday. Nevertheless, it found support and rebounded, transforming the previous resistance trendline into a support level.
Dorsey’s optimism about Bitcoin’s future is shared by others in the industry. Pantera Capital, a crypto investment firm, projected that Bitcoin would reach $114,000 by August of next year. Additionally, Anthony Scaramucci predicted a price of $170,000 for next year, while Bernstein forecasted $150,000 by mid-next year.
During the interview, Dorsey emphasized that Bitcoin’s value extends beyond its price. He highlighted its decentralized nature, which ensures that every participant is a part owner in the network and contributes to its success. He stated, “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 into making it better — is making the entire ecosystem better, which makes the price go up.”
Dorsey, who now leads his financial services firm called Block, which has made significant investments in Bitcoin, continues to advocate for its adoption and support various initiatives related to the cryptocurrency. He views Bitcoin as an extraordinary ecosystem and movement that has taught him valuable lessons.
In conclusion, Jack Dorsey firmly believes in the future of Bitcoin and predicts that its price will surpass one million dollars by 2030 and continue to rise beyond that. He emphasizes that Bitcoin’s decentralized nature and the contributions of its participants are what make it truly valuable.