Bitcoin News: On Friday, June 4, Twitter and Square CEO Jack Dorsey made a few interesting comments about Bitcoin and its commitment to Bitcoin at the Bitcoin 2021 conference held in Miami (June 4-5), pointing out the changes Bitcoin is causing.
Here are a few highlights from Dorsey’s speech at a session titled “Baking the Unbanked”:
Bitcoin definitely changes everything…I don’t think there is anything more important in my life than work…If I wasn’t on Square or Twitter, I would be working on Bitcoin…If he needed more help from Square or Twitter, I would leave them for Bitcoin…But both companies will have to play I believe there is a role…I don’t think there’s anything more enabling for people all over the world.
Bitcoin changes absolutely everything
We don’t need the financial institutions we have today… We have an institution that thrives, is robust, community-owned and community-driven, has this incredible and surprising consensus that always succeeds… Do the right thing with time. (BTC) Noble, very rare and unique. We are ready to do everything we can to build and protect it (BTC).
On Friday, Dorsey also tweeted out Square’s intention to create a hardware wallet for Bitcoin. According to Bloomberg, on May 16, 2018, Dorsey, who is also the CEO of Twitter, shared his belief in Bitcoin with a group of crypto enthusiasts at the Consensus 2018 conference in New York:
The Internet deserves a local currency; will be a local currency. I don’t know if it will be Bitcoin, but I hope so.
Payment solutions provider Square was founded in February 2009. The three co-founders are Jack Dorsey (who is also the company’s Chairman and CEO), Jim McKelvey, and Tristan O’Tierney.
Launched in March 2019, Square Crypto is designed to strengthen the Bitcoin ecosystem, as product manager Steve Lee explained in July 2019.
”Recently, Square Crypto and ARK Investment Management, founded and chaired by Cathie Wood, teamed up to create a white paper. Their motto is: “Bitc∫oin is the key to a plentiful and clean energy future”.
On April 21, Square Crypto took to Twitter to explain the main ideas above:
Solar and wind produce cheaper energy than fossil fuels. This should make them ubiquitous, but they lag behind with an obvious flaw: they produce too much energy when demand is low and not enough when it’s high. Batteries can fix this, but on their own it’s not economical enough… What can solve this problem is an ecosystem where solar/wind, batteries and bitcoin mining coexist to create a green grid powered almost entirely by renewable energy. This is not only doable, it can be done without jeopardizing the profitability of the industry.