Twitter’s Jack Dorsey takes a jibe at Ethereum (ETH)

  • A screenshot of a tweet shared by Jack Dorsey described Ethereum as a scam.
  • First thought as a coincidence, the Twitter CEO confirmed that it wasn’t. 

Bitcoin proponent and Twitter CEO Jack Dorsey has fired shots at the Ethereum community once again. Dorsey posted a screenshot explaining the latest Twitter feature and in it was a post that called Ethereum a scam.

In a major shoutout, the Twitter CEO noted that the new feature allows him to “vicariously create and sync the list of all accounts he’s following.” Later, he can set that list to be reverse chron, name it “Latest” and pin it, allowing him to quickly swipe between the ranked and all tweets.

Interestingly, the screenshot consisted of a tweet that mentioned:

The Ethereum Foundation is bankrolled by their premine. Them paying a researcher who is going on podcasts proclaiming Ethereum is Bitcoin is exactly why we consider it a scam.

One of the followers said that this might be a total coincidence. However, replying to it, Dorsey simply stated: “There are no coincidences”.

Jack Dorsey has been an ardent proponent of Bitcoin. Back in June, the Twitter CEO hosted ‘The B Word’ conference promoting the use of BTC. Besides, he has also been keen on pushing the institutional adoption of Bitcoin.

Furthermore, Dorsey has been keen on creating decentralized finance (DeFi) on the Bitcoin blockchain. His digital payments company Square has also started a new division offering Bitcoin DeFi services. The Square Business has an “open roadmap, an open development, and open source” for Bitcoin DeFi.

Read More: Jack Dorsey announces new Square Business for Bitcoin-based DeFi

Jack Dorsey: Bitcoin to be a big part of Twitter’s future

The Twitter CEO has often referred to Bitcoin as the “currency of the internet”. Recently he stated that Bitcoin along with AI, and decentralization will be the future of Twitter. Dorsey said:

I think this is a big part of our future. I think there is a lot of innovation above just currency to be had, especially as we think about decentralizing social media more and providing more economic incentives. So I think it’s hugely important to Twitter and to Twitter shareholders that we continue to look at the space and invest aggressively in it.

He also noted that once Bitcoin becomes the internet currency, Twitter can move faster in terms of product expansion. Interestingly, Twitter released its first collection of NFTs last month on the Ethereum blockchain network.

The 140 Twitter NFTs represent a moving image of the company logo and will be given away for free. However, users can sell them on the Ethereum-based NFT marketplace, Rarible.

While many called it Dorsey’s endorsement for Ethereum, some also predicted that Dorsey might soon announce an investment in ETH. However, the Twitter CEO said that he’s a Bitcoin maximalist and has no interest in investing in ETH.

But what Dorsey has to say may not account for much in the current market. Ethereum has outperformed Bitcoin ever since the market crash of 2020. This year, Ethereum’s gains are 10x that of Bitcoin’s. While the ETH price has appreciated 500 percent year-to-date, Bitcoin is standing at 50 percent gains.

About Author

Bhushan is a FinTech enthusiast and holds a good flair for understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In his free time, he reads thriller fictions novels and sometimes explores his culinary skills.

Comments are closed.