Home » Bitcoin will replace dollar – Twitter’s Jack Dorsey says, as Cardi B questions crypto relevance

Bitcoin will replace dollar – Twitter’s Jack Dorsey says, as Cardi B questions crypto relevance

by Admin

Twitter founder, Jack Dorsey, has made a huge projection about bitcoin’s future against the United States’ currency, dollar, during an exchange with American rapper, Cardi B.

Dorsey stated boldly that bitcoin will replace dollar in the longterm, displacing the dominance of the greenback which has been the currency for global trade.

He made the comment in response to an enquiry from Cardi B, who was asking about the relevance of cryptocurrency in the financial world.

“Do you think crypto is going to replace the dollar?” Cardi asked on Twitter, and Dorsey replied with, “Yes, Bitcoin will.” on Tuesday.

Read also: Twitter’s Jack Dorsey appoints three Nigerians to head Bitcoin Trust fund

Dorsey and Cardi B’s exchange comes at a period the International Monetary Fund (IMF) warned that the financial market could experience cryptolisation, which is similar to dollarisation.

IMF fears that crypto could replace fiat currency, and countries are already considering it, for instance, El Salvador has made it a legal tender. The financial body said such move poses threat to the global system.

With cryptocurrency being decentralised, central banks across the world are scared of losing control of currency circulation, which will put financial stability in the hands of unknown persons.

And with the world moving digital, businessmen like Dorsey, Elon Musk, Mark Zuckerberg believe cryptocurrency will be the official currency for the digital world, and incoming web 3.0.

The post Bitcoin will replace dollar – Twitter’s Jack Dorsey says, as Cardi B questions crypto relevance appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

Source: NEWS

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