Jack Dorsey stepped down as Twitter CEO, focusing on BTC.


Jean Nichols | Updated: 16-12-2021 11:49 IST | Created: 16-12-2021 11:49 IST
Jack Dorsey stepped down as Twitter CEO, focusing on BTC.
Image Credit: Flickr

Jack Dorsey has always been in the headlines because of his statements about cryptocurrencies and other trending topics. However, a few months earlier, he was entirely against cryptocurrencies like bitcoin, but now he has agreed that bitcoin is the incredible thing that the world needs. Therefore, Jack Dorsey decided to step down from the post of CEO of Twitter, and it told the crowd was going to focus on his passion for cryptocurrency. Furthermore, he believed that the company was ready to move on from its founders, and therefore, he needed to hand over the prominent post to someone else. Also, his leaving from Twitter indicates that the focus will be on Square, a payment company founded by him. Also, he is the company's sole leader, which he found out of his fascination with BTC.

For a very long time, he has been telling in every confidence that he is very much into cryptocurrency. He said that he is very passionate about cryptocurrencies, and therefore, he wants to focus on the broader aspect. In an interview, he mentioned that the world's largest cryptocurrency, bitcoin, is very attractive for him and therefore, he believes that it is the foundational internet technology. Also, this technology is not controlled by any single person or organisation across the globe, making it even more attractive and fascinating to him. While Jack Dorsey was attending the bitcoin 2021, he mentioned that even if he is not working with Square or Twitter, he will be working on bitcoin. Bitcoin 2021 was a mega-conference held in Miami in June 2021.

Jack Dorsey is not the person who works only as of the company's CEO, but he handles other significant things. He has also been the vocal advocate of decentralising the workforce so that he can get better outcomes. When there was Covid 19 pandemic hitting the country in different fields, he was the first to announce work from home indefinitely. He did not have any prescribed limits on working from home, which showed that it was a good decision. Apart from this, Jack Dorsey was also looking forward to working part-time in Africa because of the upcoming Covid pandemic by discovering the coronavirus period; we had to change his plans about Africa. One of the most important reasons he is not considering going and working in Africa is the upcoming COVID-19 virus. A discovery has been made about a dangerous variant of Covid, which can prove fatal to humans.

The head of research at funds straight global advisors told in an interview that as the head of Twitter is changing, the crypto market is going to get something bullish soon. He also mentioned that recently, there is not much innovation done in cryptocurrencies like bitcoin. Therefore, some information and Marshall people like Jack Dorsey need to focus on the cryptocurrency market. With this, it can get some change. There is a requirement for technology check, and to do so, vast players of the market like the CEO of Twitter, CEO of Tesla, and the CEO of Google should step up. Multiple-use players across the globe can become a turning point in the life of cryptocurrencies, and if they utilize their potential, they can take the whole world to a new level on bitql.

Square's share into cryptocurrency

Square is also a business venture from Twitter, and it has also started to focus on cryptocurrencies this year. Earlier, it was just an application that they used for making payments in the Fiat currency. However, due to the passing of Jack Dorsey of digital currencies, Square also started to facilitate transactions of cryptocurrencies recently. Now, when Jack Dorsey has stepped down from the responsibilities of Twitter, he can imply his focus towards Square and make the cryptocurrency space even better for the users. As a result, the company started its cryptocurrency trading facilitation in 2018, and it allowed people to purchase and sell bitcoins.

Later on, a deviation took place, named aa Square crypto, a team dedicated to watching bitcoin open-source work. Then, later on, came the cryptocurrency open patent alliance. It was a non-profit organisation dedicated entirely to words encouraging cryptocurrency innovation so that they could pool patents. Finally, in a press conference, Square said that it would create an entirely new business focusing on generating decentralised finance applications for the most popular cryptocurrencies like bitcoin. Jack Dorsey also mentioned that the primary purpose of this new application is to serve as a platform where you can create permissionless, non-custodial, and Decentralised financial services.

(Devdiscourse's journalists were not involved in the production of this article. The facts and opinions appearing in the article do not reflect the views of Devdiscourse and Devdiscourse does not claim any responsibility for the same.)

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