17.06.2024

Twitter Founder Jack Dorsey Supports Bitcoin at US Congressional Committee Hearings

Twitter CEO Jack Dorsey took part in an online hearing of the US Congressional Disinformation Committee the day before. This happened alongside such famous personalities as Facebook CEO Mark Zuckerberg and Google CEO Sundar Pichai.

Representatives of well-known companies discussed the role of social media platforms in preventing the spread of false information. And during the conference, Dorsey found a way to support the main cryptocurrency.

By tradition, we start with an explanation. Dorsey’s speech was interesting in itself, but Bitcoin supporters were more interested in the environment of his home during the video call. Behind the founder of Twitter was a watch-like device that was quickly identified as the BlockClock mini.

This device displays the current price of BTC along with other data on the type of market capitalization of the main cryptocurrency and the amount of satoshi – the smallest particle of one bitcoin – in one US dollar. That is, in fact, Jack made it clear that he supports Bitcoin and is confident in the prospects for cryptocurrency in the future.

It all looked like this.

broadcast conference Dorsey Bitcoin

Those very hours

Who Supports Bitcoin

BlockClock mini was developed by Canadian startup CoinKite, also known for its OpenDime and ColdCard hardware wallets. Although the device can show the time, during Dorsey’s speech, it was configured to display information specifically about Bitcoin, Decrypt reports.

Dorsey Twitter blockchain

Twitter CEO Jack Dorsey

Recall that Dorsey has long been known as an active supporter of cryptocurrencies. In February, he launched his own Bitcoin node, and there is only one word in the description of his Twitter account – «Bitcoin».

In addition, Square, which Dorsey co-founded, has been actively investing in the crypto market since last year. Additionally, Jack recently sold his first tweet as NFT for $ 2.9 million .

He converted the received money into ETH into bitcoins, after which he sent the cryptocurrency to a charity platform, whose representatives help people who are less fortunate. In total, Dorsey sent 50.87 bitcoins.

Here is the transcript of the hearing. Dorsey and his watch can be seen at 56 minutes.

And here is a demonstration of the device used by Jack Dorsey. The video shows the different modes of BlockClock mini. In particular, the device is able to show the size of the mempool – that is, the queues of unconfirmed transactions, current commissions, the volume of cryptocurrency in circulation, the current block number in the network, and even the value of BTC in gold.

The Bitcoin clock in the background of the conference is a clear sign from Dorsey. He is ready to speak out in support of the crypto market and does not hide it from the government. And this plays into the hands of the growth of BTC adoption, because Twitter is perhaps the most popular platform for the rapid exchange of information between cryptocurrency lovers. Well, Jack himself has 5.3 million followers on Twitter.

We believe that this situation is unlikely to become an impetus for a sharp rise in the Bitcoin exchange rate, as it happened after Tesla announced its own investments in cryptocurrency, but it can still help the industry. Jack Dorsey’s decision to put a BTC clock behind him testifies to the popularization of blockchain assets in people’s lives. In fact, now you can stumble upon the topic of cryptocurrencies almost when viewing content on any topic.

The day before, it was proved by the reigning UFC heavyweight champion Stipe Miocic. During the interview, he was asked what advice he would give to the 20-year-old debut of this promotion. He recommended investing in Bitcoin.

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