Dorsey Looks To Secure Bitcoin (BTC) Stash
Twitter and Square CEO Jack Dorsey is back to shilling the cryptocurrency space yet again. Most recently, Dorsey took to his personal feed to reveal that he bought a hardware storage device from Trezor, a leading cryptocurrency wallet provider, through the Cash App, a Bitcoin-friendly project that he headed.
In a tweet, he revealed he spent 0.06639… BTC on the device, with reports claiming that this implies he bought a Trezor Model S (no, not a Tesla).
It is presumed he bought the device to store the Bitcoin that he has recently begun to accumulate, in seeming preparation for the next bout of mass adoption.
Interestingly, Dorsey hinted at the reasoning why he chose a Trezor instead of a Ledger device. In response to a point about the fact that the France-based Ledger’s software is proprietary and not fully open-source, the Twitter CEO replied with “This.” Funnily enough, the team at not Dorsey-endorsed wallet creator, whose CEO called for an extended crypto winter, issued a response.
They wrote that offering open-source software isn’t the silver bullet, but made it clear that they are appreciative of signal boosting that Dorsey has done for Bitcoin in recent weeks.
An Ongoing Story
Dorsey’s most recent public tweet in regards to the cryptocurrency space, or Bitcoin more specifically, comes just weeks after he doubled-down on his support for this space amid this brutal market winter. Here’s a bit of background.
In recent weeks, Dorsey has risen from a nobody in the Bitcoin community to part of its upper echelons. It started when he appeared on the “Joe Rogan Experience” to talk about a number of subjects, eventually leading to Bitcoin. Host Rogan, who has expressed interest towards Bitcoin previously (he had Andreas Antonopoulos on a number of times), brought up Square’s crypto integration and Dorsey’s comments on how BTC is vying to be a ubiquitous currency. Explaining that rationale behind this statement, the Twitter CEO proudly stated:
“The Internet will have a single native currency, which will likely be Bitcoin. It is something that was born on the internet, that was developed on the internet, that was tested on the internet. It is of the internet.”
Following that podcast, he began to tout Bitcoin and facets of this nascent ecosystem on Twitter. He lauded the Lightning Network, before bashing altcoins, like Tron and Ethereum, and touting the merits of projects built using the aforementioned scaling solution. Dorsey even appeared on a number of Bitcoin-centric podcasts, revealing that he has accumulated $10,000 worth of BTC over the past week. He alluded to the fact that he does this every week, claiming that he has maxed out the Cash App’s BTC purchasing option.
Dorsey’s involvement with this industry is evidently an ongoing story. But where will the Silicon Valley entrepreneur show his face in the industry next? Many sure do hope it will be Square’s acceptance of the Lightning Network.