Jack Dorsey: Bitcoin Price to Hit $1 Million in 2030

Twitter and Block co-founder Jack Dorsey argued that Bitcoin could hit $1 million and "beyond" in 2030, in a recent interview.

By Stephen Graves

3 min read

Twitter co-founder Jack Dorsey has long been a champion of Bitcoin, donning Satoshi shirts, donating to Bitcoin Core developers and extolling the virtues of the cryptocurrency.

Now he's doubled down on his Bitcoin bullishness in an interview with Pirate Wires, predicting that the cryptocurrency will hit $1 million in 2030.

Asked what the price of Bitcoin would be in 2030, Dorsey laughed, "I don't know. Over... at least a million." He added that, "I do think it hits that number and goes beyond."

Calling Bitcoin "a fascinating ecosystem and movement," Dorsey said that, "anyone who works on it, or gets paid in it, or buys it for themselves—everyone who puts any effort in to make it better—is making the entire ecosystem better, which makes the price go up."

Dorsey certainly hasn't skimped in working on the Bitcoin ecosystem, with his payments firm Block investing in the cryptocurrency and developing products including Bitcoin wallets and ASIC mining chips. Last month, Dorsey's retail payment product Square announced that it would enable stores to convert a portion of their daily sales into Bitcoin.

But Block has also reportedly attracted attention from U.S. prosecutors, with an NBC News report citing sources who claim that federal prosecutors are investigating "alleged widespread and yearslong compliance lapses," at the firm, including the handling of crypto transactions from terrorist groups.

Jack Dorsey and social media

The bulk of Dorsey's discussion with Pirate Wires focused on his ventures in decentralized social media, including his recent departure from the board of Twitter rival Bluesky and his backing of open source social media protocol Nostr.

He claimed that Bluesky was "literally repeating all the mistakes we made," at Twitter, and that it was not "a protocol that's truly decentralized," and was instead "a company with VCs and a board."

An influx of Bluesky users from Twitter had pushed for "moderation tools, and to kick people off" the platform, Dorsey argued.

Nostr, Dorsey said, is a "truly open protocol," adding that it, "emerged from something that was not Twitter-driven, it was a reaction to Twitter's failures." That, he said, prompted him to delete his Bluesky account so he could focus on Nostr. "I asked to get off the board as well, because I just don't think a protocol needs a board or wants a board."

Bluesky CEO Jay Graber posted a riposte to Dorsey's comments on the social media platform, arguing that, "With all due respect to Jack for having the vision to invest in decentralized protocols, we’ve carried out the work in a way I don’t think he fully understands."

She said that Bluesky operated a "marketplace of algorithms," and that moderation on the platform is composable. "It looks and feels like it could be Twitter because we built a protocol Twitter could run on without drastic changes," she said, adding that Bluesky had placed decentralization "under the hood."

Bluesky dev Paul Frazee also took issue with Dorsey's "pure protocol" approach, arguing that, "You need an actual product, and actual product-thinking, to drive development." Frazee claimed that while it was originally planned for Twitter to be the first client of Bluesky's AT protocol, Elon Musk's takeover of the social media platform "killed that straight dead."

For his part, Dorsey stressed that "I really respect Jay," but that "directionally, I just don't align," with Bluesky's approach. "I'd love to see more effort placed on open protocols akin to Nostr, which hits every single attribute that I was searching for when we originally kicked this idea off," he added.

Get crypto news straight to your inbox--

sign up for the Decrypt Daily below. (It’s free).

Recommended News