Twitter’s CEO, Jack Dorsey, recently made it clear that they have no intention or interest in joining Facebook’s Libra cryptocurrency project.
According to Hollywood reporter, Alex Weprin, the Twitter CEO aired his sentiments on Libra at an event held by the firm in New York. The reporter in a series of tweets highlighted that Dorsey made it clear Square and Twitter will not engage in Libra’s project adding that creating a digital asset was unnecessary.
Would Twitter join the Libra project? "Hell no," Jack Dorsey says. "Nothing within Libra had to be a cryptocurrency to do what they wanted to do."
— Alex Weprin (@alexweprin) October 24, 2019
Jack also reacted to Zuckerberg’s speech when he appeared before the House. He noted that the Facebook CEO pegged his arguments on the fundamentals of America’s values such as freedom of speech, tech industry role, and censorship in democratic principles. However, Dorsey has a different opinion when it comes to exercising the fundamentals given the nature of Facebook’s global clientele. He added that the Tech companies ought to consider the global implications of a digital asset such as Libra.
In terms of crypto use, Dorsey is among those who have faith in Bitcoin given its reputation and open-end nature that creates a fair ecosystem.
The Twitter CEO further added,
“I think [Bitcoin's] the best bet because it's been the most resilient, it's around for 10 years, it has a great brand, and it's been tested a bunch. […] As I look at all cryptocurrencies that could fill that role of being the native currency for the internet, [Bitcoin is] a pretty high probability.”