- Jack Dorsey, tech leader and former Twitter CEO, predicts Bitcoin will exceed $1 million in value by 2030.
- Dorsey’s focus is not solely on Bitcoin’s price but also on the potential of its ecosystem.
- Other industry leaders, including Ark Invest CEO Cathie Wood and Fidelity Investments’ Jurrien Timmer, also forecast a seven-figure valuation for Bitcoin by 2030.
Jack Dorsey, former Twitter CEO, predicts a significant surge in Bitcoin’s value, forecasting it to exceed $1 million by 2030. This article delves into Dorsey’s predictions and his fascination with the Bitcoin ecosystem.
Dorsey’s Bitcoin Prediction
Jack Dorsey, a prominent figure in the tech industry, has made a bold prediction about Bitcoin’s future value. In an interview with Pirates Wires’ Mike Solana, Dorsey forecasted that Bitcoin’s price could explode to over $1 million by 2030. However, Dorsey emphasized that his interest in Bitcoin extends beyond its price. He expressed his fascination with the Bitcoin ecosystem, stating that anyone who contributes to it, whether by working on it, getting paid in it, or buying it, is enhancing the entire ecosystem, thereby driving up the price.
Other Industry Leaders Echo Dorsey’s Prediction
Dorsey is not alone in his prediction of Bitcoin reaching remarkable levels. Ark Invest CEO Cathie Wood and Jurrien Timmer, director of global macro at Fidelity Investments, have also projected a seven-figure valuation for Bitcoin by 2030. Timmer even estimates that Bitcoin could fall between $1 million and $10 million in 2030.
Dorsey’s Focus on Decentralized Platforms
Recently, Dorsey revealed his departure from the board of Bluesky, a platform envisioned to be a decentralized social media alternative. He attributed his departure to Bluesky’s path, stating it was “literally repeating all the mistakes [Twitter] made as a company.” Dorsey’s true focus lies with Nostr, another decentralized platform challenging Twitter. He expressed his desire to support Nostr’s development as a genuine open-source protocol.
Block’s Strategic Bitcoin Investments
Dorsey currently heads the payments firm Block, which is intensifying its focus on Bitcoin. The firm recently announced a strategy to invest 10% of its Bitcoin product profits into buying more Bitcoin every month. Block was among the first public companies to invest in Bitcoin, with a $220 million investment in 2020. The company’s Bitcoin holdings have surged 160% to reach $573 million by the end of Q1 2024.
Conclusion
Jack Dorsey’s prediction of Bitcoin exceeding $1 million by 2030 reflects his belief in the potential of the Bitcoin ecosystem. With other industry leaders echoing similar sentiments, it will be interesting to see how Bitcoin’s value evolves in the coming years. As Dorsey continues to focus on decentralized platforms and strategic Bitcoin investments through Block, his influence on the crypto space is likely to remain significant.
