
Billionaire Jack Dorsey, founder of Twitter and avid Bitcoin advocate, predicts a bright future for the queen of cryptocurrencies. At a recent conference in Tuscany, Italy, he claimed that Bitcoin could replace the US dollar within 15 years, upending the global financial order.
Bitcoin, future king of currencies?
At a conference in Italy, Jack Dorsey outlined his vision for the future of Bitcoin. According to him, the cryptocurrency will evolve from a store of value to a currency used daily, without a central authority.
” It won't be in 10 years, but maybe in 15 years.“, Dorsey believes. He underlines that adoption will take time, but that gradually people will understand the power of the Bitcoin system and its potential to complement, or even replace, the US dollar.
The prediction comes as the IMF warns of a possible decline in the dollar's share of global central bank reserves. Dorsey sees Bitcoin as an alternative to the dollar-yuan duopoly, giving users more control and freedom over their money.
“The US dollar and the Chinese yuan are two entities that control the value of your money, and you don’t choose them, whereas with Bitcoin you have much more control and you have much more freedom of action around it.”
Global economic upheaval in sight
Dorsey’s optimism comes against a backdrop of good news. Bitcoin is having a remarkable 2024, with spot ETF approvals and new ATHs set. Analysts at Standard Chartered Bank are even predicting a price of $100,000 by November.
The billionaire goes further, predicting Bitcoin at $1 million in 2030. I think this figure will be reached and even exceeded.”he says with conviction.
These projections are based on growing adoption of Bitcoin and its potential to revolutionize international payments. Dorsey emphasizes the importance of reducing the world's reliance on currencies controlled by central entities.
In short, Jack Dorsey’s bold bet on the future of Bitcoin reflects his unwavering faith in Satoshi Nakamoto’s invention. If his prediction comes to fruition, it would mark a major paradigm shift in the global economy. Whether time will prove him right remains to be seen.
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