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Twitter’s Jack Dorsey wants bitcoin to become internet’s ‘native currency’


Twitter chief executive Jack Dorsey endorsed bitcoin at the cryptocurrency conference Consensus in New York saying that it should be the official currency of the internet.

Dorsey, who is also chief executive of the mobile payment service Square, has now become a public supporter of cryptocurrencies saying he is a “huge fan” of the growing crypto market.

He said on the stage in front of the 8,500 attendees: “The internet is going to have a native currency so let's not wait for it to happen, let's help it happen. I don't know if it will be bitcoin but I hope it will be.”

Read more: Buffett and Gates label bitcoin as non-productive investment

Square was one of the first payment services to accept bitcoin already in 2014 and has been a big supporter of it. Dorsey said that wanted to make payments easier and the way to do that would be to adopt bitcoin as a global payment method.

However, Twitter has stated that it has banned all ads for cryptocurrencies and initial coin offerings (ICOs) which is the same strategy that fellow social media platform Facebook has taken on.

Last week, former Goldman Sachs president and Trump adviser Gary Cohn made a similar statement that he though that there would be a global cryptocurrency in the future.

However opposite to Dorsey, Cohn did not believe that it would be bitcoin when he told CNBC: “Im not a big believer in bitcoin, I am a believer in blockchain technology. It will be a more easily understood cryptocurrency.”

“It will probably have some blockchain technology behind it, but it will be much more easily understood how its created, how it moves and how people can use it,” he said.

Read more: Former Goldman Sachs president Gary Cohn predicts global cryptocurrency


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