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Twitter CEO Jack Dorsey say "hell no" to Libra

Twitter CEO Jack Dorsey say "hell no" to Libra
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

Bitcoin fan and Twitter CEO Jack Dorsey said today at a Twitter media event in New York City. He said “hell no” when asked if he would join the Libra Association.

He then went on to explain that the Facebook-created stablecoin didn’t need to be a cryptocurrency to pull off its broader goals of democratizing the financial system.

“I don’t know if it’s a gimmick,” said Dorsey “but a cryptocurrency wasn’t necessary to make that work”

“It’s not an internet open standard that was born on the internet,” 

“It was born out of a company’s intention, and it’s not consistent with what I personally believe and what I want our company to stand for.”

He had some very interesting things to say here are some other highlights:

“I think the internet is somewhat of an emerging nation-state in almost every way,” 

“It almost has a currency now in the form of cryptocurrency and bitcoin.”

Jack Dorsey has always been a big fan of Bitcoin and clearly believes that Bitcoin is the cash of the internet. If Twitter adopted Libra it would be a massive step but that does not look like it's going to happen. This leads me to think about what would happen if Twitter made a Bitcoin wallet.

Author

Rajan Dhall, MSTA

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

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