Bitcoin Shows Highest Daily Gains In 2 Months, Jack Dorsey Says Price Will Surpass $1 Million

Bitcoin Posts Highest Daily Gain in 2 Months, Jack Dorsey Says Price Will Exceed $1 Million

Dorsey, known for leading X (formerly Twitter) between 2015 and 2021, has since shifted his focus to crypto. He co-founded Block, Inc (formerly Square) and also served on the board of Bluesky, a decentralized social media platform. In a recent interview, he discussed his views on Bitcoin’s progress.

Don’t miss:

Dorsey first opened up about why he stepped down from Bluesky’s board and even deleted his profile on the platform, explaining that the “moderation tools” used by the company made Dorsey realize “this was literally repeating all the mistakes we’ve made as a company.” Time with Twitter.

“Everything we wanted in terms of decentralization, everything we wanted in terms of an open source protocol, suddenly became a company with VCs and a board of directors. That’s not what I wanted, that’s not what I intended to help create,” he said.

Dorsey then began discussing Bitcoin-specific issues. When asked where the price of Bitcoin might be in 2030, Dorsey replied:

“I don’t know. More… at least more than a million. I think it’s getting to that number and beyond that. But I think the price is just interesting… The most surprising thing about Bitcoin, other than its founding story, is that there are people who work on it, who get paid for it, or who buy it for themselves.” Does everyone – everyone who puts effort into making it better – makes the whole ecosystem better, which causes the price to go up. It’s a fascinating ecosystem, and the movement has taught me a lot more than anything else.”

Trend: Bitcoin is already up 45% this year; How much do you need to get started today?

If Dorsey is right, this would indicate a price increase of over 1,400%. This would result in a market capitalization of over $19.7 trillion, which is close to the total market capitalization of the Nasdaq 100 index, although not by much compared to the background of Bitcoin’s past price increases. While this is not completely impossible, large-scale adoption will be a necessity for the price prediction to come true.

Dorsey is not the first well-known crypto enthusiast to offer a $1 million price target by 2030. ARK Invest CEO increased his forecast from $1.5 million to $3.8 million by 2030. Dorsey is not alone in his prediction, but many investors disagree with him.

The story continues

Dorsey seemed to simply throw out a number when asked, which could mean he hasn’t thought much about it or isn’t being too firm on his prediction. She also states that what interests him is “the ecosystem and the movement”, which leads to price increases.

While Dorsey doesn’t exactly believe Bitcoin will reach $1 million by 2030, it’s still interesting to think about. Additionally, Dorsey’s perspective as a developer provides a unique perspective on the potential price increase.

Read Next:

crypto digital assets

“THE SECRET WEAPON OF ACTIVE INVESTORS” Boost Your Stock Market Game with the #1 “news and everything else” trading tool: Benzinga Pro – Click here to start your 14-Day Trial Now!

Want to get the latest stock analysis from Benzinga?

This article Bitcoin Shows Highest Daily Gain in 2 Months, Jack Dorsey Says Price Will Pass $1 Million First appeared on Benzinga.com

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.