Mar 07, 2019

Twitter CEO Jack Dorsey Alludes to Spending $10,000 a Week on Bitcoin

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Twitter and Square CEO Jack Dorsey alluded to spending $10,000 per week on Bitcoin (BTC) on the podcast Tales from the Crypt on March 4.

On the podcast, Dorsey spoke on how he came to experiment with Bitcoin and what parallels he sees between Bitcoin and Twitter. Speaking about the “Stacking Sat Saturday” —  a trend where users buy $25 in BTC every week to show the growing adoption of cryptocurrencies — Dorsey said that “[he] saw that [Stacking Sat Saturday] on Twitter […] I would have participated but I have already exceeded my limit on CashApp. I can’t purchase anymore.”

Although Dorsey did not specified the exact amount, the maximum weekly buy limit for Bitcoin on mobile payment company Square’s CashApp is $10,000. He further commented that he may be able to join the Stacking Sat Saturday next week, since limits purportedly rotate every week.

Dorsey is known for his belief that Bitcoin is the Internet’s native currency. Dorsey said in an interview with Joe Rogan last month that “[Bitcoin] was something that was born on the internet, that was developed on the internet, that was tested on the internet…It is of the internet.”

Dorsey’s comments on the podcast reaffirmed a previous statement he made in mid-May of last year, when he stated that that virtual currencies are the future of a legitimate means of global payment.

In February, Dorsey revealed that the sole crypto he holds is Bitcoin. When asked about the particular features of Bitcoin that excite Dorsey the most, the Bitcoin bull again pointed at the cryptocurrency’s potential to become a global currency.

Recently, Eugene Kaspersky, the CEO of the cybersecurity giant Kaspersky, stated that he believes that in the future — “perhaps in a 100 years’ time” — the world will be united under a single government, which turn will have a single, digital currency. Kaspersky, however, argued that “cryptocurrencies are a great idea, but the world is not ready for them yet.”

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