By all accounts, Jack Dorsey’s departure from Twitter has him poised to become the newest high-profile ambassador for cryptocurrency—especially Bitcoin. While Tesla’s outspoken leader Elon Musk has spent much of his free time touting alternative cryptos like Dogecoin and Shibu Inu, Dorsey has been forthright about his convictions in Bitcoin, the largest coin by market cap.
Dorsey is a firm believer in a very bright future for Bitcoin, and Square figures to play a big part in fulfilling his dreams. In July, Block announced that it is developing a hardware bitcoin wallet that will likely integrate with the company’s popular mobile payment service, which rivals PayPal’s Venmo. Customers can buy and sell Bitcoin with Cash App, and Dorsey has shown interest in building a Bitcoin mining system based on open source and custom silicon. The tech entrepreneur is a staunch proponent of decentralization, both on the Internet and in the workplace, and has long telegraphed this career shift, which comes as social media companies are under federal scrutiny in the U.S.