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Bitcoin will unite the world, according to Jack Dorsey

The Twitter and Square boss and self-confessed crypto fan Jack Dorsey tweeted that Bitcoin could unite the deeply divided USA and ultimately the world. Not Dorsey’s first jubilee aria.

Jack Dorsey, founder and CEO of Twitter and head of the payment service Square, is an avowed fan of crypto currencies such as Bitcoin and the underlying blockchain technology. In March, Dorsey sold his first tweet from 2006 as a non-fungible token (NFT). The Tweet NFT raised $ 2.9 million. Now Dorsey has caused a stir with a Bitcoin-friendly tweet.

Dorsey: Bitcoin is supposed to unite a divided country

The Twitter message said that Bitcoin will unite a deeply divided country. This probably means the USA, even if the country is not explicitly named. As an addition in brackets, Dorsey wrote that Bitcoin would ultimately also unite the world. What Dorsey could have meant by that remains unclear. On the other hand, it seems certain that the tweet can be seen as a reaction to a Senate decision.

A previously negotiated amendment proposal for the billion dollar infrastructure package of US President Joe Biden’s ideas for the regulation and taxation of the crypto industry was rejected in the Senate. The original version would also include providers of software or services in the field of cryptocurrencies in the new regulations.

Change proposal fails because of the 87-year-old

That would mean that wallet providers, for example, also count as brokers – with corresponding obligations, such as having to pass on information about users and customers to authorities. The proposed amendment wants to bring more conceptual clarity into it, as Bitcoin-Kurier reports. The proposal failed because of the vote against by the 87-year-old US Senator Richard Shelby, who demanded a $ 50 billion higher military budget for his vote.

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Crypto investor Mike Novogratz commented on the decision by suggesting that legislation should be pushed to remove people over the age of 80 from the US Senate. “The world is changing too quickly for 70 and 80 year olds to make all the important decisions,” says Novogratz.

By the way, Dorsey had already made positive, but cryptic, comments on the subject of Bitcoin a few weeks ago. As part of the Bitcoin conference “The B Word”, at which Tesla boss Elon Musk was also present in addition to Dorsey, the Twitter boss said that he hoped that Bitcoin would bring world peace. Basically, according to The Verge, it was probably about the fact that Bitcoin, as an alternative to the conventional monetary system, could eliminate fundamental problems in the future. How exactly this should work, however, Dorsey left open.

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Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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