Resigning from Twitter CEO, Jack Dorsey Predicted Willing to Play Bitcoin

 


Jack Dorsey has officially resigned from his position as CEO of Twitter. Where is Dorsey going after this?

So far, Dorsey has held two important positions. In addition to leading Twitter, the 45-year-old is also CEO of Square, the digital payments company he founded in 2009.



After he was no longer preoccupied with leading Twitter, Dorsey had more time for Square and cryptocurrencies. Dorsey has long claimed to be interested in cryptocurrencies, especially bitcoin.



"If I wasn't on Square or Twitter, I would be working on bitcoin," Dorsey said while speaking at the Bitcoin 2021 conference a few months ago, as quoted by CNBC, Tuesday (11/30/2021).


Square itself has had several crypto-related projects launched in recent years. In 2018, they collaborated with Cash App to launch a bitcoin trading feature.







In July, Square said it was creating a new business dedicated to building DeFi apps for bitcoin. Technology decentralization was indeed one of Dorsey's focuses when he led Twitter and Square.


Not long ago Dorsey also said Square would dive into the bitcoin mining business. The payments giant is also developing its own crypto wallet to make bitcoin more mainstream.


Square also has assets in the form of bitcoins. They have a bitcoin investment of USD 351.7 million as of September 30.


"We believe that bitcoin has the potential to become a more common currency in the future," said Square Chief Financial Officer Amrita Ahuja in a statement.


"As adoption grows, we plan to learn and participate in a disciplined manner. As a company building products based on a more inclusive future, this investment is a step towards that journey."



Dorsey's position as CEO of Twitter was replaced by Parag Agrawal, who was previously the CTO of Twitter. In an email sent to staff, Dorsey said a founder-led company would be severely restricted and could be a point of failure.


Despite stepping down as Twitter's CEO, Dorsey will remain on the board of directors until the next shareholders' meeting in 2022.

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