Twitter founder: Bitcoin to become the world’s single currency in 10 years

Jack Dorsey, founder of Twitter and its current chief executive, does not exclude the future scenario in which Bitcoin becomes the world’s single currency. This extremely bullish statement on Bitcoin has been cited by Times.

“The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be Bitcoin,” Jack Dorsey said.

The representatives of central banks at G20 summit might have to say a word or two about this view, as they have just discussed the matter of Bitcoin regulation and among other conclusions reached agreement that Bitcoin is not an efficient currency today. However, Jack Dorsey thinks Bitcoin has a long road ahead to become a good currency as the quantity of user will grow over time.

Meanwhile, the price of Bitcoin is growing and has returned to $9000, gaining +6% in 24 hours. The G20’s balanced approach towards digital currencies demonstrated at the aforementioned discussion might have played a part in this growth - no country categorically demanded to cease all Bitcoin activities tomorrow, as some investors could have feared.

Image courtesy of Mark Lennihan / AP Photo