Technology leader Jack Dorsey is betting big on Bitcoin, predicting a price explosion to more than $1 million by 2030.
When asked by Mike Solana of Pirates Wires for his opinion on Bitcoin’s future value, Dorsey said: “I don’t know. Over… at least a million. I think it will reach that number and go beyond that.” Still, the crypto asset price itself is relegated to the background for Dorsey, who reiterated that his main fascination with Bitcoin lies in other aspects.
“The most amazing thing about Bitcoin, beyond its founding story, is that anyone who works on it, makes money in it or buys it for themselves – anyone who puts in any effort to make it better – makes the whole ecosystem better , which drives the price up,” he said in an interview published Thursday. “It’s a fascinating ecosystem and movement, more than anything else. It has taught me a lot.”
Dorsey is not alone in predicting that Bitcoin will reach extraordinary levels. Ark Invest CEO Cathie Wood also predicts Bitcoin’s valuation at $1 million by 2030. In addition, Jurrien Timmer, director of macroeconomics at Fidelity Investments, predicts a seven-digit range for Bitcoin, estimating that it will fall between $1 million and $10 million in 2030.
This week Dorsey, the former CEO of Twitter, revealed that he has stepped down from Bluesky ‘s board. The platform, founded in 2019, is intended to be a decentralized alternative to social media.
“Everything we wanted in terms of decentralization, everything we wanted in terms of open source protocol, suddenly became a company with venture capital funds and a board of directors,” – He told Pirates Wire. “That’s not what I wanted, that’s not what I wanted to help create.”
He attributed his departure to Bluesky’s path, saying it “literally repeated all the mistakes [Twitter] made as a company.”
Dorsey further revealed that he is actually focusing on Nostr, another decentralized platform challenging Twitter. He said he wants to support the development of Nostra as a true open source protocol .
Jack Dorsey’s blockchain announces strategic monthly bitcoin purchases
Dorsey is now the head of payments company Block, which is doubling down on its Bitcoin position. Last week, the company announced a new strategy of investing 10% of the profits from its Bitcoin products into buying more Bitcoin every month.
Block was one of the first public companies to invest in Bitcoin, committing $220 million in 2020. The company’s Bitcoin holdings rose 160%, reaching $573 million by the end of the first quarter of 2024.
