Jack Dorsey Still Maxing Out Bitcoin Buys While Crypto’s Added to Twitter’s Topics Explorer
Bitcoin proponent and Twitter founder and CEO Jack Dorsey continues to max out his bitcoin buys as shared by him to a bitcoin enthusiast.
— jack (@jack) May 12, 2020
It’s not surprising given that Dorsey is bitcoin’s staunch supporter.
His company Square' Cash App also had a record of $306 million revenue from bitcoin in Q1 of 2020, surpassing all other revenues on the app. This was an increase of 367% over the same quarter last year.
In the first quarter of this year, Cash App consumed 23.15% of Bitcoin’s all-new issuance in the quarter, up from 13.78% in the previous quarter.
Dorsey shared about maxing out bitcoin buys as he wished “Happy halving day,” to the cryptocurrency community as bitcoin went through its third reward halving which slows down BTC’s inflow into the market to now 900 BTC per day from the pre-halving’s 1800 BTC per day.
This supply shock, a known event – there have already been two such halvings in 2012 and 2016, has also pushed the inflation rate down to 1.80%, now below the global inflation rate of 3.5%.
This event occurs every four years or 210,000 blocks and the next one will be on 09 May 2024.
Continue to bring bitcoin closer to people
On Tuesday, Dorsey also shared that Twitter has added more topics to follow that now covers Bitcoin along with COVID-19, local news, and astrology.
— jack (@jack) May 11, 2020
The full list can be found under Topics in the Twitter sidebar. Following a particular topic means relevant tweets will appear in your timeline.
According to Dorsey, Bitcoin is the Internet currency, and “a global currency which is a native currency for the Internet is a very powerful concept,” he had said in an interview last month.
At that time, he also said bitcoin whitepaper is “poetry.”