Twitter CEO Jack Dorsey Says Bitcoin Will ‘Unite the World’
The social media mogul’s tweet comes as an amendment benefitting certain crypto holders was rejected by the Senate.
Twitter founder and CEO Jack Dorsey doesn’t just loudly support Bitcoin, he believes the world’s most popular cryptocurrency can bring about financial equality and world peace.
#Bitcoin will unite a deeply divided country.
(and eventually: world)
— jack⚡️ (@jack) August 9, 2021
While he didn’t elaborate in the tweet, CNBC published quotes from a crypto webinar that explain his idea further:
“My hope is that it creates world peace or helps create world peace. We have all these monopolies off balance and the individual doesn’t have power and the amount of cost and distraction that comes from our monetary system today is real and it takes away attention from the bigger problems.”
“All these distractions that we have to deal with on a daily basis take away from those bigger goals that affect every single person on this planet and increasingly so,” he added.
“You fix that foundational level and everything above it improves in such a dramatic way. It’s going to be long-term but my hope is definitely peace.”
Dorsey’s recent tweet came shortly after a $1 trillion bipartisan compromise amendment benefitting some crypto holders was rejected by the Senate.
CNBC reports that the bill in question defines a “broker” as “any person who (for consideration) is responsible for regularly providing any service effectuating transfers of digital assets on behalf of another person.”
Crypto advocates say the definition could be used against miners, developers and stakers who don’t have customers and therefore don’t have access to information needed to comply.
The killed amendment, which was supported by Treasury Secretary Janet Yellen, would have excluded validators such as miners and stakers.
Dorsey also directly addressed the bill’s rejection by retweeting a statement from the account Wealth Theory that read, “I’d personally like to thank the US government for so poetically demonstrating the problems we are trying to fix by attacking #Bitcoin in [an] infrastructure bill.”
“We’ve been trying to describe the problem for quite some time, but could never do it this well.”