Jack Dorsey, a prominent figure in the tech world, recently shared his thoughts on Bitcoin, raising doubts about its long-term relevance if it doesn’t become a widely used payment option.
While many see Bitcoin as “digital gold,” Dorsey believes that without practical everyday use, it risks becoming obsolete.
During a podcast interview, Dorsey emphasized that Bitcoin’s original vision, as described by its creator Satoshi Nakamoto, was to serve as a peer-to-peer digital cash system.
He argued that focusing solely on its value as a long-term investment misses the point. Instead, the priority should be making Bitcoin functional for daily transactions, ensuring speed, privacy, and ease of use.
Despite Dorsey’s push for practical adoption, big players in the financial sector continue to invest heavily in Bitcoin. Over the last two months, more than 70 new entities holding significant amounts of BTC have joined the network, indicating strong institutional interest.
Products like Bitcoin ETFs also remain popular, suggesting that many still view the asset as an investment rather than a payment solution.
At the same time, the crypto market is experiencing turbulence. Bitcoin’s value recently dipped to around $76,500, marking a notable drop amid increased trading activity. As the market tests critical support levels, debates continue about Bitcoin’s real purpose and future viability.
After more than four weeks of uninterrupted investor enthusiasm, BlackRock’s iShares Bitcoin Trust has reported its steepest daily outflow since its inception, signaling a potential shift in sentiment.
Pakistan’s aggressive embrace of Bitcoin mining has drawn scrutiny from the International Monetary Fund (IMF), which is now demanding clarity on the country’s allocation of 2,000 megawatts of electricity to digital assets and AI infrastructure.
A new analysis from China’s International Monetary Institute (IMI) suggests that Bitcoin is quietly gaining ground as a serious player in the global reserve system.
Bitcoin may be on the verge of a major supply squeeze, with dwindling availability and accelerating institutional interest setting the stage for potentially explosive price action, according to Sygnum Bank’s Katalin Tischhauser.