Jack Dorsey says the bitcoin will be a big part of Twitter’s future

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Jack Dorsey says the bitcoin will be a big part of Twitter’s future

Twitter CEO Jack Dorsey has confirmed to investors that Bitcoin will be a “big part” of the company’s future, as it expands into existing Twitter products and services, including trade, purchases and Twitter tip jars. As with other new additions, I see opportunities to integrate cryptocurrency. Super follows.

Dorsey has been a strong advocate for bitcoin for years, but there has been no word on how it will be implemented on Twitter. However, Dorsey often publicly emphasized the cryptocurrency, saying it reminded her of the “early days of the Internet” and that it was more than enough to work for her in her life. Important “Nothing.”

More recently, Dorsey launched and announced a .6 23.6 million bitcoin fund with JZ. Plans Its other company, Square, is advancing bitcoin in the Bitcoin financial services market. This year, too, J-Z’s marine music service gained a majority, focusing on how blockchain technologies and cryptocurrencies can transform the music business.

Today, along with AI and decentralization, Dorsey also called Bitcoin one of the three major trends in Twitter’s future. This is the second time that Twitter has followed in its footsteps.

He urged investors to use bitcoin on Twitter’s second-quarter earnings call, saying it could help the company move faster in terms of product range, while explaining that it Is the “best candidate” to become the “native currency” of the Internet. (Incidentally, Square’s purchase of 50 million bitcoins in 2020 was worth 3 253 million by February 2021, and it bought an additional $ 170 million earlier this year.)

“If the Internet is the local currency, the global currency, then we are able to move very fast with products like superfollow, commerce, subscriptions, tip jars and we can reach out to everyone on this planet,” Darcy said. Instead of going from market to market, he explained, “I think that’s a big part of our future. I think there’s a lot more innovation than just currency, especially when We think about decentralizing social media as much as possible and giving it more economic incentives, so I think it’s important for Twitter and Twitter shareholders to keep looking at this space and aggressively invest in it. Do it

A Twitter correspondent confirmed that this is the first time Dorsey has spoken publicly about how Twitter could integrate Bitcoin into its product lineup.

Dorsey also pointed out that Twitter will not be alone in pursuing a crypto strategy, noting that Facebook is supporting the Digital Currency Dam.

“There is a clear need for it, and a definition of it. And I think an open standard of the Internet, which is to be the real Internet, is the right way to go, so my focus and our attention will ultimately be on the bitcoin.”

Overall, Twitter generated strong revenue in the epidemic recovery company, which saw the company grow its revenue the fastest since 2014, according to CNBC. The company had Q2 revenue of 1. 2.19 billion, compared to the expected 0 1.07 billion, the majority (1. 1.05 billion) from its advertising business. It also had earnings of 20 cents per share as compared to the expected 7 cents.

However, monetary daily active users (MDAUs) – Twitter’s own invented metric, which often means an increase in monthly user rate – were only 206 million, up 11% year-on-year, while analysts estimated 206 million. , Counting 2 million. The company blamed a sluggish news cycle and the demise of shelters in many American communities, which may have affected Twitter’s use during the quarter.

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