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Jack Dorsey: Bitcoin Will Be A Big Part Of Twitter’s Future

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An interesting live chat had the crypto space on fire a couple of days ago,

During the live chat, Elon Musk said that he wants BTC to succeed and he said that he, Tesla and SpaceX – they all hold Bitcoin.

He also said that he holds Ethereum and a bit of Doge of course. Musk hinted at the fact that Tesla could start accepting Bitcoin once again.

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“It looks like bitcoin is shifting a lot more toward renewables and a bunch of the heavy-duty coal plants that were being used…have been shut down, especially in China,” said Musk on Wednesday at The B-Word conference, an event hosted by the Crypto Council for Innovation.

Bitcoin will be an important part of Twitter

Twitter’s Jack Dorsey was also a guest and he confirmed to investors that Bitcoin will be a “big part” of the company’s future.

He also highlighted the fact that

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he sees opportunities to integrate the crypto into existing Twitter products and services, including “commerce, subscriptions and other new additions like the Twitter Tip Jar and Super Follows,” as TechCrunch notes.

Dorsey has been a BTC advocate for years, but how it would be put into action on Twitter’s platform had not yet been spelt out in detail.

He often talked about BTC, saying it reminds him of the “early days of the internet” and that there wasn’t “anything more important” in his lifetime for him to work on.

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“If the internet has a native currency, a global currency, we are able to able to move so much faster with products such as Super Follows, Commerce, Subscriptions, Tip Jar, and we can reach every single person on the planet because of that instead of going down a market-by-market-by-market approach,” Dorsey said as quoted by the online publication mentioned above.

We suggest that you check out the complete article in order to learn the complete details.

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Bitcoin Will Significantly Underperform Altcoin Market As New Crypto Price Era Unfolds: Pantera Capital’s Dan Morehead

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The founder and chief executive officer of Pantera Capital says that investors can expect altcoins to outperform Bitcoin (BTC) in the long term.

In a recent edition of Pantera’s Blockchain Letter, the head of the digital asset management firm outlines Dan Morehead’s key quotes from the SALT 2021 conference in New York. During the conference, Morehead said that even though his company has greatly profited from BTC, he emphasized that most future crypto gains will come from altcoin investments.ADVERTISEMENT

“My perspective is: Bitcoin has been amazing – Pantera Bitcoin Fund is up 67,000% since inception. However, I think the majority of future gains will be from tokens outside of Bitcoin. I know that sounds heretical to some people here, but that’s my professional opinion.”

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Morehead compares the rise of Bitcoin and its competitors to that of the tech industry boom during the late 1990s.

“It’s like saying in 1998 that [the] majority of future tech gains would come from outside Microsoft.

At the time, Microsoft was worth $218 billion, Apple $3.5 billion, Amazon was $2.2 billion. Google and Facebook were zero – they didn’t even exist. In the years since Microsoft did great – it went up 10x. However, 80% of the tech gains in these five stocks came from outside Microsoft.

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That’s the view I have here – I think BTC is going to go up a ton – like 10x. It’s a great investment…[but] I think the broader portfolio is going to outperform.”

At time of writing, BTC has a market cap of $1.156 trillion while all altcoins combined have a market cap of $1.327 trillion, according to CoinMarketCap.

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s are now selling ‘way more’ US Dollars to buy Bitcoin

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El Salvador’s mainstream Bitcoin (BTC) adoption gains momentum during the ongoing bull run as citizens increasingly exchange their United States dollar savings for Bitcoin. 

President Nayib Bukele shared this new development on Twitter based on the data acquired from El Salvador’s in-house wallet service, Chivo. President Bukele said:

“People are inserting way more USD (to buy #BTC) than what they are withdrawing from the Chivo ATMs.”

He also urged media outlets to independently confirm the above information by visiting the ATMs. President Bukele further stated that Chivo has reported 24,076 remittance requests “adding up to $3,069,761.05 in one day.”

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The increase in USD to Bitcoin conversions within the jurisdiction reflects a change in investor sentiment, which initially faced resistance during adoption from the general public. Moreover, the Salvadorean government offers various subsidies for using Bitcoin such as fuel subsidies and tax exemptions. 

El Salvador has installed over 200 ATMs after adopting Bitcoin as a legal tender, making it the third-largest network of crypto ATMs after the United States and Canada.

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A Cointelegraph report shows that El Salvador exceeded United Kingdom’s crypto ATM count after deploying 205 crypto ATMs, mainly to facilitate local Bitcoin transactions and Bitcoin to U.S. dollars conversions.

Recently, the Salvadorean government announced to build a $4 million veterinary hospital using the profits attained during the Bitcoin bull market. According to President Bukele, the veterinary hospital will host four operating rooms, four emergency clinics, 19 offices, and a rehabilitation area: “We decided to invest a part of that money in this: a veterinary hospital for our furry friends.”

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Why Bitcoin ETF Is Such A Big Deal and May Push Bitcoin Above $100k?

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Amid a global regulatory crackdown on cryptocurrencies, the U.S. SEC’s approval of a Bitcoin (BTC) Exchange-Traded Fund (ETF) has come as a pleasant surprise to the Bitcoin community. The most awaited ProShares Bitcoin Strategy ETF is reportedly launching as early as Monday, October 18. This ETF is going to be traded with a ticker symbol of BITO and will track Bitcoin futures.

Bitcoin rallies towards $100K

Instead of achieving regulatory green light, Bitcoin price crossed $62K this morning with a slight correction, BTC continued to stand strong at $61.5K, at the time of reporting. The market is raging with speculation of Bitcoin crossing $100K with this ETF. The timing could not have been better as the fourth quarter has commenced the holiday season bull run, with trader bonuses flooding in as cryptocurrencies take to an upward graph. Since the beginning of October, when the potential BTC ETF began gaining mass traction, the impact on Bitcoin prices also became evident.

According to a Bloomberg report, this Bitcoin ETF will further the institutional adoption of the decentralized sphere, specifically focused on Bitcoin. “An ETF should provide greater ease-of-use for retail investors looking to ride Bitcoin’s often hair-raising ups and downs. Like securities tracking oil and gold, it will change hands on relatively familiar U.S. stock-market venues, rather than in cryptocurrency or futures exchanges whose workings are imposing to some users.”

Regulatory approval can make or break a token

The frequently validated fact that regulatory approval radically helps the growth of cryptocurrencies, despite it being a decentralized and unregulated market, continues to gain credibility. XRP is one of the most prominent examples of how drowning in a regulatory puddle may keep certain tokens into a bear rut, while the rest of the industry leaps into the bullish phase. Due to the ongoing XRP lawsuit against Ripple, the XRP community continues to suffer as the fourth quarter has not helped XRP so far. The community blames the SEC for stretching the lawsuit intentionally so that XRP skips this bull run.

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