Bitcoin could get a boost from Jack Dorsey’s resignation

Karthik Subramanian

It may sound a bit off-putting but it can be said that the resignation of Jack Dorsey as the CEO of Twitter could be beneficial for Bitcoin and the crypto industry overall in the months to come.

Twitter

He continues to remain the CEO of the payments company Square and it was during this year that the company had said that it was looking to venture into the bitcoin mining space to make a difference in the way things are done.

Focus on Bitcoin Mining

Not only this but Jack and Square have always made it very clear that they are all in favor of bitcoin and Jack is a strong believer in the long-term value of bitcoin and also in the viability of the crypto industry. This means that Square would continue to push strongly in the crypto space and Jack could hence be focussing all of his attention on bitcoin and crypto in the future.

Twitter is a different opportunity for Jack and the fact that he has chosen to remain with a payments company Square and resign from Twitter alone shows that he plans to invest more of his time into Square and also on crypto as well. This could be highly beneficial for the industry as it is not only a validation of the long-term viability and opportunity that crypto provides but also an endorsement of its potential which other institutions are likely to realize in the long run. The industry would also be looking forward to what kind of innovations that Jack and his company Square would be able to bring into this space but all of this does point to exciting times ahead for the crypto industry as more of the industry leaders begin to focus their time and attention into it.

Decentralisation as central theme

Decentralization is a theme that seems to have fascinated Jack for a long and this is evident from the way Twitter works where each individual has his or her power to gather followers, share thoughts and influence others as well. He has also been known to be involved in trying to come up with standard protocols so that users can interact with each other across various social media platforms. With decentralization being the central theme for blockchain and crypto as well, it is indeed no surprise that he is likely to now devote his time to this industry.

Read this next

blockdag

BlockDAG’s $28.5M Presale Ignites Investor Frenzy! Dashboard Upgrade Unveils Top Rankings, Overshadowing Retik Finance Listings!

Learn how BlockDAG’s updated dashboard, featuring detailed community rankings, is diverting investor interest from Retik Finance’s anticipated market entries.

Digital Assets

Gala Games reportedly hacked for $200 million, token nosedives

The native token of crypto gaming project Gala Games (GALA) dropped sharply amid rumors of a massive transfer worth over $200 million that traders suspected might be a hack.

Digital Assets

Ether skyrockets amid rumors of spot ETF approval

The chances of the U.S. government approving spot Ether ETFs have increased, according to top Bloomberg ETF analysts. Initially viewed as unlikely, analysts James Seyffart and Eric Balchunas now see a 75% chance of approval, up from 25%, following recent developments.

Digital Assets

New York judge approves $2 billion settlement with Genesis

A New York bankruptcy judge has approved a $2 billion settlement between the New York State Attorney General’s office and crypto lender Genesis, marking the largest settlement against a crypto firm in the state’s history.

Fundamental Analysis, Market News, Tech and Fundamental

Global FX Market Summary: Federal Reserve Policy, ECB, Geopolitical Tensions, May 20 ,2024

Fed holding rates to fight inflation, ECB likely cuts June rates, geopolitical tensions favor safe-haven USD

Digital Assets

Grayscale CEO steps down, replaced by Goldman Sachs veteran

Grayscale CEO Michael Sonnenshein after 10 years with the digital asset investment firm, the company said on Monday.

blockdag

Influencers Fuel BlockDAG’s $28.4M Presale Amid Solana Price Surge & Kaspa Bull Run

Dive into BlockDAG’s presale success, boosted by influencer endorsements. Explore the Solana price surge and Kaspa’s bullish sentiments.

Market News, Tech and Fundamental, Technical Analysis

EURGBP Technical Analysis Report 20 May, 2024

EURGBP currency pair can be expected to fall further toward the next support level 0.8525, which is the low of the previous corrective wave ii.

Digital Assets

Pump.fun exec arrested for $1.9 million exploit, claims bail in UK

Jarett Dunn, a former employee of the memecoin creator and trading platform pump.fun, claims he was arrested and subsequently released on bail in the United Kingdom following a $1.9 million exploit on the platform.

<