Jack Dorsey, co-founder of Twitter and long-time supporter of bitcoin, has once again sparked debate in the world of digital finance. His recent message stating that “bitcoin is not crypto” has reignited the discussion about the identity of bitcoin: does it belong to the broader cryptocurrency industry or is it completely separate from it?
In brief
- Jack Dorsey's declaration that “bitcoin is not a crypto” reignites the debate on the true vocation of Bitcoin in the digital economy.
- Bitcoin maximalists and crypto ecosystem proponents disagree over whether bitcoin is part of or separate from the crypto world.
- Dorsey insists that bitcoin is a currency, pointing out that his white paper emphasizes peer-to-peer electronic money rather than speculation.
- Critics question bitcoin's scalability, while others see Dorsey's position as a reaffirmation of its role as a true digital currency.
The role of Bitcoin in the digital economy reignites the debate
Dorsey, often believed to have ties to bitcoin's mysterious creator Satoshi Nakamoto, made headlines this week after reiterating his stance on the nature of the currency. The brief message, posted to X (formerly Twitter) on Sunday, sparked thousands of reactions and reignited long-standing discussions about the true purpose and place of bitcoin in the digital economy.
His statement comes amid growing tensions between bitcoin maximalists, who view BTC as the only legitimate digital currency, and supporters of a broader crypto ecosystem, including thousands of altcoins and blockchain projects.
Many recall that Satoshi Nakamoto described bitcoin as a “peer-to-peer cryptocurrency”, suggesting that it indeed belongs to the crypto family. But Dorsey emphasizes the word money, arguing that the basis of bitcoin lies in its function as money, not as a speculative asset.
The discussion also reignited old rumors linking Dorsey to Nakamoto. Earlier this year, Seán Murray of deBanked published circumstantial evidence linking Dorsey to the creation of bitcoin. None of these claims have been verified, and Dorsey denied the theory duringan interview with Lex Friedman in 2020joking: “No, and if it was, you would know? »
The original vision of Bitcoin returns to the forefront
To support his point of view, Dorsey recalled that the bitcoin white paperpublished in 2008, never mentions the term “crypto”. The document defines bitcoin as a “peer-to-peer electronic cash system” based on “cryptographic proof instead of trust.”
Satoshi Nakamoto's posts on the Bitcointalk forum also described bitcoin as a “digital currency using cryptography and a distributed network.” For Dorsey, this distinction is essential: he sees bitcoin not as just another speculative asset, but as a revolutionary monetary system designed to replace traditional intermediaries.
BTC seen as currency, not as a speculative asset
Shortly before his “not crypto” message, Dorsey published another post on X: “bitcoin is money. » He linked this idea to his projects at Block, the financial services company he runs, and its payments subsidiary Square.
Dorsey highlighted recent progress toward fee-free Bitcoin transactions through Square's payment system, citing a user's testimony claiming that all merchants in a local marketplace were now accepting BTC thanks to the initiative. Its objective remains to promote the use of bitcoin as a concrete payment tool, faithful to its initial vocation as a peer-to-peer electronic currency.
He also encouraged other platforms, like Signal Messenger, to integrate bitcoin payments, emphasizing his belief that the future of the currency lies in its utility, not speculation.
Reactions shared in the crypto community
Dorsey's position sparked mixed reactions. Some critics still cite slow transactions and high fees, saying these obstacles hinder its adoption as a peer-to-peer payment system.
Others, on the contrary, see in his rejection of the word “crypto” a desire to mark the difference between bitcoin purists and supporters of broader blockchain innovation.
David Schwartz, Ripple's outgoing CTO, reacted to X, suggesting that Dorsey was looking to reposition BTC as a functional payment system rather thanspeculative investment.
He acknowledged, however, that Dorsey's exact intent remained unclear, a reflection of broader uncertainty within the community.
Regardless of interpretation, Dorsey's statement once again places the essence of bitcoin at the heart of public debate, inviting supporters and skeptics alike to reevaluate what bitcoin truly represents in the ever-changing digital economy.
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