Twitter founder Jack Dorsey predicts $1 million Bitcoin by 2030

Jack Dorsey, founder of Twitter and CEO of Block, predicts Bitcoin will hit $1 million by 2030, citing Block’s efforts in the space

Jack Dorsey, founder of Twitter and CEO of Block, a financial technology company, made a bold prediction, predicting that the price of bitcoin will rise to $1 million by 2030 and that bitcoin’s market capitalization will reach $20 trillion in part thanks to Block’s work in the bitcoin space.

Dorsey expressed confidence in bitcoin’s growth trajectory in an interview, emphasizing the role of individuals and companies in expanding bitcoin’s utility and improving its ecosystem.

‘Bitcoin is a movement’

Underlining the transformative impact of efforts to develop bitcoin, Dorsey noted that every contribution to bitcoin’s development supports the entire ecosystem and drives up its price.

He underscored the profound impact of bitcoin, calling it not just a technology but also a movement.

Dorsey’s soaring bitcoin price forecast is in line with similar predictions from other industry leaders, such as Ark CEO Cathie Wood, who suggested in January that bitcoin could reach $1.5 million by 2030, and Balaji Srinivasan, former CTO of Coinbase, who made headlines last year for betting $1 million on bitcoin.

Block’s recent initiatives, including the launch of a bitcoin hardware wallet and plans to develop a full bitcoin mining system, underscore its dedication to advancing the bitcoin ecosystem.

Dorsey believes that the internet will eventually adopt a native currency, and while this transition won’t occur overnight, existing and emerging financial systems will coexist for some time as the transition unfolds.

Source: Newsroom