- Jack Dorsey believes Bitcoin will replace the US dollar as the dominant global currency within the next 10-15 years.
- Speaking at an event in Tuscany, Italy, Dorsey said Bitcoin offers more control and freedom compared to government-issued currencies like the US dollar and Chinese yuan.
- Dorsey, a long-time Bitcoin advocate, previously predicted that Bitcoin’s price will surpass $1 million by 2030.
At a swanky Tuscan retreat, the Twitter and Block co-founder recently shared his vision for Bitcoin‘s ascendancy to global supremacy.
Jack Dorsey’s Comments
Speaking at an exclusive gathering for the summer solstice hosted at a castle in Tuscany, Italy last week, Dorsey expressed confidence to a high-profile audience that Bitcoin will soon graduate in the West from a store of value to a dominant permissionless currency that holders would want to use daily.
“It’s going to take some time,” Dorsey said during the intimate talk titled “Tech and Freedom” at the event hosted by legendary music producer Rick Rubin. “It’s not 10 years, it might be 15. Little by little, people see the value of this system and why it’s so powerful.”
At that point, Dorsey said—when Bitcoin becomes a go-to means to complete transactions not just in the Global South but everywhere—the on-chain currency could dethrone the dollar to become Earth’s next global method of payment.
“It could potentially complement or replace the US dollar which rules everything,” Dorsey said, wearing a Satoshi Nakamoto t-shirt and gold chain.
Dorsey’s Support for Bitcoin
The tech entrepreneur, who also founded financial technology firm Block, emphasized the importance in his eyes of turning the global economy away from its current dependence on both the US dollar and the Chinese yuan.
Dorsey has long been one of Bitcoin’s most prominent advocates. In May, he predicted that BTC’s price is poised to eclipse $1 million by the end of the decade.
Conclusion
Dorsey believes Bitcoin has the potential to become the dominant global currency and replace the US dollar within the next 10-15 years. His comments at the exclusive Tuscan event reflect his strong conviction in Bitcoin’s future as a mainstream payment system.
