Jack Dorsey Tells Joe Rogan Bitcoin Will “Probably” Become Internet’s Native Currency
Twitter CEO Jack Dorsey talked up bitcoin in a big way this weekend when he appeared on the highly coveted Joe Rogan Experience. The long-time advocate of cryptocurrency said bitcoin will “probably” become the internet’s native currency in ten years’ time.
Internet’s Native Currency
Appearing on episode 1236 of the Joe Rogan Experience on Saturday, Dorsey opened up about a range of issues including free speech, blockchain and the formation of his social media empire. During the discussion, which lasted for two hours, Dorsey said cryptocurrency is here to stay and that bitcoin will probably hold the reigns as the most widely-used digital asset.
“I believe the internet will have a native currency and I don’t know if it’s bitcoin. I think it will be given all the tests it has been through and the principles behind it, how it was created,” Dorsey told Rogan, as quoted by Forbes.
“It was something that was born on the internet, was developed on the internet, was tested on the internet, [and] it is of the internet,” he added.
Dorsey said “the world ultimately will have a single currency, the internet will have a single currency,” and that it will probably be bitcoin. This process may take up to ten years to materialize, “but it could go faster,” he added.
The Joe Rogan Experience is known for hosting long-form discussions with leading experts, martial artists and entertainers in all fields. It ranked second on Apple’s most-downloaded podcasts of 2018.
Dorsey has been an avid proponent of bitcoin and cryptocurrencies for at least five years. Square, his mobile payment startup, began accepting bitcoin payments in 2014 during the last major ‘crypto winter.’ Since early 2018, Square’s Cash App has been a popular venue for bitcoin trading.
Last summer, Square was approved by the U.S. Patent and Trademark Office (USPTO) to begin developing a new system that allows merchants to accept cryptocurrency payments. The patent was originally filed in September 2017. More on this story: Square Secures Patent That Would Allow Merchants to Accept Cryptocurrency Payments.
That being said, Dorsey’s social media platform hasn’t always been so supportive of digital assets. In March 2018, Twitter joined Facebook and Google in banning cryptocurrency-related advertising over regulatory concerns. Facebook and Google have since reversed their blanket ban on digital currency adverts, though Twitter has not followed suit.
As we reported last year, cryptocurrency exchanges didn’t rely on social media advertising during the bull market. This may have changed over the past 12 months as organic searches for ‘cryptocurrency’ and ‘bitcoin’ have declined.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.