Jack Dorsey is known as one of the most respected CEOs of our times. From running operations at Twitter, leading Square, and taking silent retreats. Juggling so many things at the same time, we would think time might be limited even for him. Yet, he is an avid advocate of bitcoin and the evolution of the online ecosystem. Especially in our times where even the president of the United States has an opinion about the cryptocurrency, expressed in Dorsey’s social platform.
Jacks companies have been involved with bitcoin since 2014 when Square started allowing its merchants to accept bitcoin. Ever since Cash App allowed customers to purchase bitcoin in 2017, Square Crypto was born this year, and Bitcoin Salaries reported his 43,700 Satoshis salary in 2019.
Bitcoin investments
- Jack states in the Tales From The Crypt podcast that he spends $10,000 per week on Bitcoin.
- Lightning Labs received investment from Jack Dorsey to make it easier for users to send bitcoin to each other using the lightning network.
Jack Dorsey quotes about Bitcoin
“I believe the internet will have a native currency and I don’t know if it’s bitcoin. I think it will be [bitcoin] given all the tests it has been through and the principles behind it, how it was created,” Joe Rogan Experience
Cash App
The mobile transfer app from Square, allows users to purchase and sell bitcoin. In Q1 19', this feature attributed to $52 million or 7% of the company's total revenue.
Square
Square crypto was announced on June 2019 and will be led by former Google director Steve Lee. Their vision revolves on creating what is best for the community. Their progress is still unknown to the public, but an AMA was announced for Monday, July 29th to answer any question.
**We will update this article after the AMA.
Salary in Bitcoin
According to Bitcoinsalaries.com, jack earned 43,800 satoshis (7/28/19) for his work on Twitter and Square. This website ranks celebrities and athletes based on their real-time bitcoin earnings. Bitcoin prices fluctuate constantly, so make sure to check the website for the most recent salary. Will Square Crypto take consider building a bitcoin salary service in the future?
Conclusion
It is a huge net positive for the bitcoin community to have Jack Dorsey on its side. His expertise, network, and capital can push this evolution of the online ecosystem forward, with bitcoin riding the wave alongside.
There might be legal uncertainty in the meantime from regulators, but entrepreneurs and tech leaders seem to be taking bitcoins side for the time being.