Although American investors such as Charlie Munger have expressed skepticism about cryptocurrency, to put it mildly, many from the online world are betting that it is the future. Out of many internet experts who are bullish on crypto, perhaps Jack Dorsey is one of the strongest. Serving as the CEO for both Square and Twitter, his words carry weight. With a firm belief that the internet deserves its own "native currency"—and that it will most certainly achieve this goal—Dorsey has been speaking openly about his optimism for crypto.
However, Dorsey does note that regulators and SEC have a long way to go when it comes to getting cryptocurrencies on their list of important things to consider. In fact, when he was pushing for his company Square to accept bitcoin (BTC) way back in 2014, executives from his own business pushed back for a multitude of reasons. And BTC's performance that year did not do anything to allay their fears; to put it mildly, profits were very slim. But when Dorsey spoke about the future of BTC at the Consensus conference recently, he reaffirmed his strong faith in the potential of the cryptocurrency.
The fact that Dorsey remains bullish on crypto, despite a host of objections from his board of directors, is indicative of a very sunny future for BTC and altcoins. It should be noted that this isn't the first time that Dorsey has enthused publicly about the possibilities of crypto. Although he has mentioned that he believes crypto is currently "slow and costly," he also believes that the situation is going to evolve more quickly as regular people begin to dabble in bitcoin. And it's crucial to note that Dorsey has put his money where his mouth is when it comes to BTC. Investing in an LN implementation that will make it much easier for BTC transactions to happen fast, he joins other tech impresarios like Charlie Lee, who created the wildly popular Litecoin.