Jack Dorsey Raises Concerns About Bitcoin’s Long-Term Relevance
Jack Dorsey, a prominent figure in the tech world, recently shared his thoughts on Bitcoin, raising doubts about its long-term relevance if it doesn’t become a widely used payment option.
While many see Bitcoin as “digital gold,” Dorsey believes that without practical everyday use, it risks becoming obsolete. During a podcast interview, Dorsey emphasized that Bitcoin’s original vision, as described by its creator Satoshi Nakamoto, was to serve as a peer-to-peer digital cash system.
He argued that focusing solely on its value as a long-term investment misses the point. Instead, the priority should be making Bitcoin functional for daily transactions, ensuring speed, privacy, and ease of use.
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Despite Dorsey’s push for practical adoption, big players in the financial sector continue to invest heavily in Bitcoin. Over the last two months, more than 70 new entities holding significant amounts of BTC have joined the network, indicating strong institutional interest. Products like Bitcoin ETFs also remain popular, suggesting that many still view the asset as an investment rather than a payment solution.
At the same time, the crypto market is experiencing turbulence. Bitcoin’s value recently dipped to around $76,500, marking a notable drop amid increased trading activity. As the market tests critical support levels, debates continue about Bitcoin’s real purpose and future viability.
Alexander Stefanov
