Jack Dorsey, former CEO of Twitter and well-known personality in the technology and cryptocurrency industries, recently shared his view that Bitcoin could reach $1 million by 2030.
His prediction is part of a broader bullish outlook on the pioneering cryptocurrency, suggesting its value could continue to climb even after take this step.
Dorsey’s comments came during a detailed discussion discussion about the future of digital currencies and his own experiences in the industry.
Dorsey’s vision: beyond the price of Bitcoin
Dorsey’s enthusiasm for Bitcoin extends beyond his potential price appreciation. In the interview with Pirate Wires, he expressed his deep appreciation for the Bitcoin ecosystem, noting that it has been an important source of learning for him.
According to Dorsey, the collaborative and open nature of the Bitcoin community means that efforts by any individual to improve the network or positively engage with it can lead to broader benefits for all participants. This aspect of Bitcoin, as much as its price potential, seems to captivate him.
Dorsey particularly noted:
The most amazing thing about Bitcoin, besides the founding story, is that anyone who works on it, gets paid for it, or buys it for themselves – anyone who puts effort into making it better – makes the whole thing better of the ecosystem, which drives up the price.
In the same conversation where he discussed the future of Bitcoin, Dorsey also discussed why he left BlueSky, the alternative social media platform he helped co-found after leaving Twitter.
He criticized BlueSky for what he sees as a departure from the original vision of decentralization, noting that the platform has begun to mirror traditional corporate structures with an emphasis on venture capital and a consultancy. formal administration.
This change, according to Dorsey, contradicts the ethos of “decentralization and open source protocols” that he sought to champion. Dorsey’s critique extends to the tech industry’s broader approach to developing and managing digital platforms.
He believes that many of the mistakes made by Twitter are repeated by BlueSky. and othersparticularly in terms of governance and the balance between open protocols and corporate control.
His views highlight a tension within the tech world between the push for innovative, user-focused platforms and the lure of traditional business models.
Bitcoin Market Movements and Broader Forecasts
While Dorsey put forward a long-term view that BTC could reach $1 million, the crypto is currently trading above the $62,000 mark, showing a steady 2.5% increase over the past 24 hours and 3.7% over the past week.
These moves are part of a broader trend that has seen various experts present optimistic predictions about Bitcoin’s price trajectory.
For example, Tom Lee of Fundstrat predicted that Bitcoin could reach $150,000 by the end of the year, citing the launch of several spot Bitcoin ETFs as a key development that simplifies crypto investing for the general public.
Lee’s bullish stance is supported by his belief that the current crypto bull cycle is far from over, despite recent price declines and inflationary concerns.
Further reinforcing this optimistic outlook, research notes from Standard Chartered suggest Bitcoin could reach $150,000while Ethereum could reach $8,000 by the end of 2024. These projections reflect a growing consensus among financial analysts that the leading digital assets have substantial room for growth.
Featured image from Unsplash, chart from TradingView
