A strong supporter of Bitcoin is the co-founder of Twitter and CEO of Block (previously Square) (BTC). In fact, Jack Dorsey is frequently referred to as a Bitcoin maximalistsomeone who believes in Bitcoin and Bitcoin alone. The future's currency, according to Dorsey, may one day be Bitcoin rather than the dollar. And he's spending a significant amount of his time on it.
In the beginning, Dorsey initially became interested with Bitcoin. He claimed that he was drawn to the group because it made him think of the internet when he was younger.
Bitcoin presents a viable remedy for Dorsey. You see an opportunity to rebuild the whole basis, he stated when he first saw Bitcoin in 2009. It is, in his opinion, the internet's native money. If you're not sure what it implies, think of a universal, decentralized money that is not under the jurisdiction of any one organization.
Last year, Dorsey tweeted that he believed Bitcoin had the potential to bring a bitterly divided nation and ultimately the entire globe together. If the main cryptocurrency is to have any chance of causing the cultural and societal changes Dorsey feels are achievable, then making it more accessible and useful will undoubtedly be an essential step.
Being a Bitcoin maximalist in a world with 18,000 different cryptocurrencies is probably not simple. Bitcoin is undoubtedly the most well-known and safest cryptocurrency, nevertheless, if you do want to invest in cryptocurrencies. We don't yet fully understand how this market will develop, but Bitcoin has the longest track record and accounts for around 40% of the entire market capitalization of all cryptocurrencies. Many financial advisors suggest putting a sizable portion of your cryptocurrency holdings in Bitcoin since it has the highest long-term survival chances.
For investors, Dorsey's perspective on bitcoin is helpful. He is not discussing the potential price of Bitcoin in ten years; rather, he is discussing the philosophical justifications for backing the first cryptocurrency.
Cryptocurrencies frequently receive negative news. People have valid worries about the frauds, the harm to the environment, and the possibility of my money laundering. However, Dorsey's enthusiasm for Bitcoin serves as an encouraging and occasionally helpful reminder that it may also be a force for good.