Twitter CEO says leading altcoin Ethereum (ETH) has value but has chosen to focus on Bitcoin.
- Twitter CEO Jack Dorsey expressed his stance on Ethereum.
- Users recently suggested that Twitter is afraid to work with Ethereum because it might break Big Tech.
- Jack Dorsey said that Ethereum has some value but he and Twitter decided to focus on Bitcoin.
Twitter founder and CEO Jack Dorsey expressed his stance on Ethereum after a long history of focusing on Bitcoin.
Jack Dorsey Twitter rejects Ethereum wallets!
Recently, Twitter users suggested that their site account have an Ethereum wallet attached for NFT trading. One user critically suggested that this would benefit Ethereum more than Twitter. Dorsey sided with the Ethereum critic and wrote “Accepted”. He went on to imply that “every account on Twitter can link a Bitcoin Lightning wallet” is a more likely addition to the site.
This idea, which has been worked on since June, will allow Twitter users to send Bitcoin transactions with low fees. Jack Dorsey’s rejection of Ethereum caused another user to accuse Twitter of fearing Bitcoin rivals. Users “Big Tech is afraid of Ethereum; Ethereum is disrupting Big Tech,” they wrote.
Twitter and Jack Dorsey focus on Bitcoin
Jack Dorsey later said that “no single technology” could break Big Tech. In response, another user asked, “Why hate (Ethereum) if there is room for more than one piece of the puzzle?” asked. Jack Dorsey argued that Twitter’s “focus on one thing doesn’t mean it hates others”.
Jack Dorsey added that he has expressed concerns about non-Bitcoin blockchains such as “founding principles, security and centralization.” Dorsey did not elaborate on these principles, but has repeatedly emphasized Bitcoin’s goal of serving as the internet’s native currency. Elsewhere, Jack Dorsey said that while Ethereum “has value to many people”, it “is not just what he focuses on.”
Jack Dorsey does not hold any leading altcoin ETH
Jack Dorsey and Twitter have historically avoided addressing Ethereum. In June, Jack Dorsey stated that he would not invest in Ethereum and simply said “no” when someone else hinted that he would. Additionally, payments firm Square, Jack Dorsey’s second company, only offers support for Bitcoin trading, not ETH trading.
But it is clear that Dorsey is not completely against Ethereum. In May, he sold the digital version of his first tweet as an Ethereum-based NFT token and donated the proceeds to charities. Cryptocoin. com, Twitter has also created a series of Ethereum-based NFTs through its moneymaking and trading platform Rarible.