Jack Dorsey, the CEO of Twitter, has confirmed that bitcoin will play a huge role in the company’s future. Dorsey is of the opinion that there are multiple opportunities to incorporate cryptocurrency into the several products and services offered by Twitter, such as commerce, subscriptions and new additions to the application like Super Follows and Twitter Tip Jar.

Dorsey has been an advocate for bitcoin for several years, but it has not been specified as to how it will be integrated in Twitter’s platform.

In the recent times, Dorsey has launched a $23.6 million fund for bitcoin with Jay Z. He has also announced that he plans to lead his other company, Square, a financial services and digital payment company, into the decentralized financial services market through bitcoin. Square also acquired a major stake in Jay-Z’s music streaming platform TIDAL, with a focus towards blockchain technologies and cryptocurrencies, and how they would bring about a change in the music business.

Bitcoin has been dubbed one among the three future keywords for Twitter, along with decentralization and AI. Decentralization is being pursued by Twitter through its ‘Bluesky initiative’

Dorsey has pitched bitcoin to the investors in the Q2 2021, and is of the opinion that bitcoin will help the company develop further in terms of product expansions. He also feels that bitcoin is the ideal candidate to become the “native currency” of the internet.

He explains that products such as Super Follows, Subscriptions, Commerce and Tip Jar can move faster if the internet has a native currency. Due to native currency, he also feels that the reach would be wider, as compared to a market-by-market approach. Dorsey feels that there is room for further innovation beyond just currency, such decentralizing social media for economic reasons, which is why he encourages the Twitter shareholders to invest in it aggressively.

A representative has confirmed that this is the first time that Dorsey has publicly spoken about how bitcoin would be integrated into Twitter. Dorsey has also pointed out that it is not just Twitter that is pursuing cryptocurrency, with reference to Facebook backing Diem, a digital currency.

Dorsey feels that there is an obvious need for this and having a native currency for the internet is the right way to go, which is why the company will be focusing largely on bitcoin.

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