In the past, Twitter CEO Jack Dorsey has shown a keen interest in bitcoin and cryptocurrency in general. Circle, a payment platform he also cofounded, has been active in promoting cryptocurrency use on their platform and Dorsey has even taken part in the Lightning network challenge which helps draw attention to the Lightning network and bitcoin as a whole. Because many within the business world are so skeptical about cryptocurrency, Dorsey’s open support of it is rather refreshing and encouraging and as such, there is often speculation about his next move with regards to cryptocurrency.
It seems however that his next move will not have anything to do with Facebook and Libra as on October 24, 2019, a thread was created by Hollywood reporter editor Alex Weprin in which Dorsey made it clear that he intended to stay for away from Libra and Facebook’s cryptocurrency plans.
During an event at Twitter’s New York office, Dorsey was asked if he would ever consider joining the Libra project and he reportedly said that he would not.
“Nothing within Libra had to be a cryptocurrency to do what they wanted to do,” he said.
Dorsey also touched on Zuckerberg‘s recent speech at Georgetown University which he stated was a rather American one. This is because Zuckerberg touched on freedom of speech and the role of tech firms in the modern world and also criticized China’s involvement in technology development. Dorsey’s issue with this is that Zuckerberg fails to consider that tech firms within the US tend to serve most of the world and not just a single region.
”I fear that if we base too much in this one concept, we take away the ability to experiment and expand,” he said. “We are not just serving an American audience, we are serving a global audience […] The internet is somewhat of an emerging nation-state.”
Dorsey has been asked in the past if Twitter intends to follow in the footsteps of Facebook and JP Morgan by creating its own stablecoin. He stated that he is more interested in existing and established ones such as bitcoin and not in creating a whole new one tied to the Twitter platform.