Is Africa the key to crypto growth? Twitter CEO Jack Dorsey thinks so

Rajan Dhall, MSTA FX Daily

Twitter and Square CEO Jack Dorsey has said he believes Africa to be the pivotal area for crypto acceptance.

Dorsey is an advocate of Bitcoin and he said as much when commented about Libra. In previous interviews the Twitter CEO was asked if Twitter would create their own cryptocurrency he said he believes there is no need as Bitcoin is doing the job.

He has now stated that " Africa will define the future" When referring to the future of Bitcoin.

On his official twitter handle, he said

Sad to be leaving the continent…for now. Africa will define the future (especially the bitcoin one!). Not sure where yet, but I’ll be living here for 3-6 months mid 2020. Grateful I was able to experience a small part.

The story does not end there as Mr Dorsey plans to go back to Africa as he sees massive potential in the Continent and thinks Bitcoin could help the unbanked in the more rural areas. Dorsey’s comments come as Africa continues to generate significant interest in Bitcoin and cryptos in general. Nigeria is often among the most active countries in Google search of Bitcoin, along with other African countries such as South Africa. So him concentrating on the area would be wise.

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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