Who is Jack Dorsey and what is his commitment to Bitcoin?

Who says Jack Dorsey says Twitter. Yes, Jack Dorsey is known for being the founder and first CEO of Twitter. Co-founder of the Blue Bird network, he devoted all his time and energy to it before resigning in November 2021.

After his departure, the former Twitter executive further showed his enthusiasm for Bitcoin, dedicating himself to the company Block, Inc.. (formerly Square). The latter is a financial services company that he also co-founded and which offers, among other things, bitcoin exchange services.

A staunch supporter of bitcoin, Dorsey's obsession with the payment network sparked investor interest and changed the way Block, Inc. operates. Today, Jack is considered the spiritual leader of bitcoiners and we'll find out how and why.

A short biography of Jack Dorsey

Born in 1976 in Missouri, United States, Dorsey has always been keen on information technology. From the age of 14, he developed open source software, one of which is still used today by certain taxi companies. This shows a certain precocity in the field of site and software development.

After studying computer science at New York University, he moved to California to continue working on other projects. This is the case for medical device networks and a communication and messaging web-based (the basis of what will give rise to Twitter).

In March 2006, Dorsey, he set up Twitter which experienced exponential growth and recorded more than 100 million users in 2012. He will be the CEO from 2006 to 2008, then from 2015 to 2021.

In parallel with his activity on Twitter, he co-founded the company Square in 2010. This is a company that has implemented payment terminals that can be connected to smartphones.

In 2012, Square was valued at $3,2 billion. Dorsey later changed the company name to Block, Inc.. in December 2021. The name change aims to mark the company's interest in blockchain-related technologies.

So, the fun company Block, Inc currently offers Tidal, a digital music streaming service. It also offers Cash App, a crypto payment system which allows you to buy and sell bitcoins, and Weebly, awebsite hosting.

How did Dorsey become interested in Bitcoin?

There is no denying that Jack Dorsey is a key figure in the history of Twitter. After founding the company, he spent 15 years alternating between CEO and various executive roles. In the past, Twitter had even experimented with the integration of cryptocurrencies, or the insertion of NFTs in profile photos for example.

However, Dorsey's vision for widespread adoption of cryptocurrencies has never been realized (yet).

In 2019, Dorsey saw his interest in bitcoin grow after taking a trip to Africa. In this continent, he discovered several small businesses using the Bitcoin network and frequently tweeted about the interest of using Bitcoin on the African continent. In 2020, he had planned to temporarily return to Africa, but the Covid-19 pandemic ultimately prevented him from doing so.

Indeed, Dorsey personally witnessed how Bitcoin “banks the unbanked” at the other end of the world. He was able to see how Bitcoin allows developing communities easier access to financial infrastructure.

It was especially from this moment that the ex-CEO established himself as a supporter and a notorious evangelist of Bitcoin.

Speaking at bitcoin conferences and rallies, he never misses an opportunity to promote bitcoin. Moreover, Dorsey emphasized his desire to see bitcoin “help create peace in the world” during the The B Word conference.

Following this deep commitment toecosystem crypto, Dorsey announced that he would leave Twitter in November 2021. However, the creator of the social network remains the owner of a 2,4% share in the company.

On his Twitter profile, he now displays his account on Nostr, decentralized social network representing an alternative to Twitter.

Since leaving Twitter, Jack Dorsey has focused entirely on his other business, which is much more in line with his interests in bitcoin.

Jack Dorsey's 'Spartan' Lifestyle

Since his resignation from Twitter, some have noted the change in Jack Dorsey's "look". With a shaved head, long beard and colorful, casual t-shirt, Jack Dorsey is gradually moving away from the classic entrepreneur image he had until now.

His appearance seems consistent with the Spartan lifestyle he promotes. In the podcast Ben Greenfield Fitness, he declared that his morning routine consisted of waking up at 5 a.m. to dive into an ice bath. He also practices meditation since he was around twenty years old.

Let's remember that the word "Spartan" refers to the ancient Greek city where society was known for its military discipline. Jack Dorsey is also known for eating only one meal a day and fasting for most of his day.

He said his lifestyle allows him to be much more focused and able to cope with the intense demands of his job.

It is certainly this way of living, with strict rules, that some consider him – if not – a guru.

What is its impact on the development of Bitcoin?

Dorsey thinks that the bitcoin has a chance to completely disrupt payment systems existing. At the Bitcoin 2021 conference, he claimed that the ability to trade bitcoins anywhere and anytime is beneficial for the entire planet.

He acknowledged that there was still much work to be done in the areas of education and accessibility, while tweeting that bitcoin was a long-term path to greater financial inclusion around the world. He also launched the TBD company which is dedicated to the development of bitcoin payment infrastructure in southern countries.

Beyond his businesses, Jack Dorsey is a private investor who has participated in the financing of numerous projects including the development of lightning network.

He is also a major donor to philanthropic causes and has carried out numerous bitcoin donations to humanitarian associations and organizations.

With this in mind, Dorsey and the artist Jay-z created an endowment fund of 500 bitcoins at the beginning of 2021. The goal of this fund will be to finance the diffusion of Bitcoin in India and in Africa.

What to remember about Jack Dorsey

Ultimately, if Jack Dorsey is considered a spiritual leader of bitcoiners, it is for two reasons. First, his passion for blockchain technology and then his dedication to the development of Bitcoin-related solutions.

Although he is best known for his work with Twitter, his achievements and positions in the Bitcoin ecosystem do not go unnoticed and are welcomed by the community.

It is encouraging to see recognized individuals like Jack Dorsey supporting bitcoin, as it can help with mass adoption. Indeed, Jack Dorsey, Elon Musk and Michael saylor, through their notoriety in the entrepreneurial world, contribute to giving greater credibility to bitcoin and cryptocurrencies.

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Note: No financial advice is given in this article or any other article on this site. This is information of which you are the sole judge and master. Be responsible with your investments and only invest as much as you are willing to lose.

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