139 shares, 352 points

Crypto enthusiasts on Twitter are trying to guess what Jack Dorsey meant in Tuesday’s ‘705742’ tweet. A fan asked, “Your first block reward? “Block 705742 was released about 3 hours ago, around the time your tweet was shared,” he said. Jack Dorsey said last week that Square is trying to build a Bitcoin mining system for kidollarsels.

What did Jack Dorsey mean by the mysterious tweet?

Twitter and Square CEO Jack Dorsey left many crypto enthusiasts confused when he shared his short and enigmatic “705742” tweet on Tuesday. That was all. There is no follow-up explanation, and no one knows what the subject is. So people started to speculate. Most of the comments state that it is somehow related to Bitcoin.

A Twitter user asked, “BTC price target?” while another user asked, “Your first block reward? “Block 705742 was released about 3 hours ago, around the time your tweet was shared,” he said. Jack Dorsey announced on Friday that digital payments company Square is working to build an easy-to-use Bitcoin mining system for individuals and businesses worldwide. The crypto mining process generates Bitcoin every 10 minutes. In the first four years of Bitcoin’s existence, 50 Bitcoins were minted at that time. Every four years, the amount is halved. As of October 2021, only one block is issued that gives 6.25 Bitcoins every 10 minutes. The halving in 2024 will take place at 840,000 blocks.

“A prediction on which block confirmation the leading coin will break another ATH”

“Given Jack’s reputation and reputation as a successful tech entrepreneur and bitcoin advocate, his tweet faced numerous buying pressures before and during this block approval,” Adrian Kolody, founder of decentralized exchange Domination Finance, said in a statement. why could that happen?” he commented. Adrian Kolody continued his evaluations as follows:

Regardless of market cap, it is typical for highly influential people to influence price movements in the crypto market. At the end of the day, Jack Dorsey is just making a simple guess at which block confirmation Bitcoin will break another ATH (all-time high).

According to CoinDesk data, Bitcoin hit an all-time high of over $67,000 on Wednesday and is up nearly 130% so far this year. The digital asset received significant support from the launch of the first US futures-based Bitcoin ETF this week. As for the “705742” tweet to be a price target, there are market watchers keeping their eyes high. Cathie Wood of Ark Invest, for example, sets a long-term price target of $500,000 for the digital asset.

Jack Dorsey is influential in the crypto industry and frequently tweets about Square’s Bitcoin-related projects. In July, it announced that it plans to launch a decentralized finance (DeFi) business focused on cryptocurrency. Cryptocoin. com, as you have mentioned in our news, Twitter launched a feature in September that allows anyone using the social media platform to send and receive tips with Bitcoin.

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