Twitter confirm they have no plan to make a cryptocurrency and will continue to support Bitcoin

After all the fuss surrounding Facebook’s Libra, Twitter’s founder Jack Dorsey has confirmed they have no interest in creating a coin. Instead, Mr Dorsey said they will continue to support Bitcoin!  

Mr Dorsey, who is vocal Bitcoin supporter, told The Age and The Sydney Morning Herald he thinks the cryptocurrency pioneer was still the “best bet” to be the internet’s native currency.

“I think open Internet standards serve every person better than ones controlled or started by companies,” said Mr Dorsey,

“I think [Bitcoin’s] the best bet because it’s been the most resilient, it’s around for 10 years, it has a great brand and it’s been tested a bunch,” he said.

“As I look at all cryptocurrencies that could fill that role of being the native currency for the internet, [Bitcoin is] a pretty high probability.”

One thing I found interesting about the interview was the opinion about market forecasters. Jack Dorsey said  

“We’re always heading into a recession, and we’re always heading out of one, and anyone who offers an opinion on this is fooling themselves.”

“A lot of other business models may be affected, but ours is pretty robust, because people always need to eat, [that will]always be something that’s valuable,”

So a very pragmatic interview buy the Twitter CEO and a great insight into what he believes will happen in the future. To read the full article click here.