Jack Dorsey, CEO of Twitter, has said that Bitcoin will become the world’s single currency within the next ten years.
“The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin,” Dorsey told The Times. “This would happen probably over ten years, but it could go faster”, he added.
Dorsey’s support for Bitcoin will be surprising to many, given the recent reports that Twitter is planning to kill ICO and cryptocurrency ads, just like Facebook and Google.
Dorsey is currently in London to promote Square, and reportedly told The Times that Bitcoin does not have the capabilities right now to become an effective currency.
“It’s slow and it’s costly, but as more and more people have it, those things go away. There are newer technologies that build off of blockchain and make it more approachable.”
In fact, Dorsey revealed last week that he is one of the seed investors of Lightning Labs, a Bay Area startup working towards potentially making bitcoin cheaper and faster to use.