Bitcoin Price Likely to Reach $1 Million by 2030, Jack Dorsey Forecasts
Jack Dorsey, the co-founder of Twitter has made a bold statement about the price of Bitcoin, predicting it to surge exponentially to $1 million in 2030. His forecast has sparked discussions across the crypto community, with speculations rising about the likelihood of this.
This comes amid a time when the crypto market is undergoing a significant shift in price dynamics. At the time of writing, Bitcoin is trading at around $62k which is far below its all-time high of $73,000 reached in March 2024. However, with the positive sentiment surrounding the coin, and the anticipated post-halving effect, the price of the asset might be primed for a rally soon.
Bitcoin (BTC) Gets Bullish Momentum With $1 Million Price Prediction
In a recent interview with Pirate Wires, Jack Dorsey, one of the figures behind the microblogging platform, Twitter gave a bullish prediction for the long-term price of the flagship cryptocurrency Bitcoin. According to him, the price of the asset could reach the $1 million mark by 2030, adding that it will continue to increase once it attains this feat.
What is more, Dorsey opined that the price of BTC is not the most interesting aspect of it, rather, he asserts that the community surrounding the crypto, from those who work on it to those who get paid, are the fascinating forces behind the movement of the asset.
“The most amazing thing about Bitcoin, apart from the founding story, is anyone who works on it, or gets paid in it, or buys it for themselves — everyone who puts any effort in to make it better — is making the entire ecosystem better, which makes the price go up,” he said.
why he left bluesky, how twitter went public and lost its way, jack's strategy for ending censorship forever, new background on the elon saga, and the death of social media as we know it. my interview with jack dorsey: https://t.co/kI7v088JDV
— Mike Solana (@micsolana) May 9, 2024
Jack Dorsey Leaves Bluesky Over Repetitive Mistakes
Meanwhile, the prominent figure in the tech world surprised onlookers when he revealed that he would be leaving Bluesky Social, a decentralized microblogging platform that he founded in 2019. In a statement, he attributed the reason for his departure to a change in his founding vision. According to him, Bluesky was making the same mistakes Twitter made by becoming a company with venture capitalist investors and a board, which is a shift from what he envisioned.
“Everything we wanted around decentralization, everything we wanted in terms of an open-source protocol, suddenly became a company with VCs and a Board. That’s not what I wanted, that’s not what I intended to help create,” he said.
To lower the risk of censorship, Dorsey initially intended Bluesky to be an open-source protocol that Twitter and other social media platforms could build upon. This would have separated the protocol layer from the application layer.
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