Bitcoin on the Brink? Dorsey’s Shocking Revelation Shakes Crypto World

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My dear pals, imagine one day you wander into your local chocolate shop (or your local NFT bazaar, I suppose), expecting to purchase a trifling treat with the old Bitcoin. Suddenly, you discover—gadzooks!—that it’s no longer the splendid everyday currency it once aspired to be. Instead, it’s lolling about, pretending to be a fancy ingot of gold. One can almost hear the regal trumpets. 🤯

Such is the lamentable scenario that has kept our esteemed Jack Dorsey, co-founder of Twitter and fearless leader of Block, Inc., up at night. The chappie made it clear that Bitcoin could turn into today’s version of that porcelain cat statue collecting dust on Aunt Agatha’s mantelpiece if all it does is lounge about as a store of value. He reminded us that the original aim was to be that delightful peer-to-peer payment system, rather than a shiny digital paperweight. 😂

On the latest Presidio Bitcoin podcast yak-fest, hosted by Haley Berkoe of Block’s Spiral (quite the spiral indeed!), Dorsey waxed lyrical about Bitcoin’s metamorphosis from “pocket change you can jingle about the internet” to a prestigious high-flyer slated to break the $100,000 barrier in 2024. Now that’s a jolly good party trick, but old Jack wonders if the intangible coin might end up about as relevant as a horse-drawn carriage in an age of rocket ships.

JACK DORSEY: Bitcoin fails by being irrelevant.

It becomes irrelevant if it’s only a store of value and not used for everyday payments.

— Bitcoin News (@BitcoinNewsCom) April 2, 2025

When our host Haley proposed a future scenario where Bitcoin topples off its lofty perch, Dorsey declared, “If it morphs into nothing more than a show pony for value, it might just fizzle into irrelevance.” Cue dramatic music. 🎶

All the while, the world was busily melting down due to a tariff war, courtesy of one US president Donald Trump—because naturally, a spot of global discord is just what the doctor ordered for economic cheer. ☕

Meanwhile, netizens on X (formerly known as the Twitterverse) formed an orderly queue for opinions, noting Bitcoin’s rise as “digital gold” amidst the clamor. Some insisted it’s perfectly acceptable for Bitcoin to lounge in that role, much like a contented cat on a warm windowsill. Others wittily argued it’s missing the jolly point—and so on. Here’s the general sentiment:

  • Those longing for Bitcoin the daily currency: “What’s the use of gold if I can’t buy a sandwich with it?”
  • Those defending Bitcoin the digital treasure: “Being sparkly and valuable is its own reward!”

Dorsey, apparently unimpressed with the “sparkly and valuable” approach, made his call for action during the global market crash. He waved a tiny flag of optimism for using Bitcoin as an everyday payment gateway, encouraging folks to partake in something a bit more thrilling than merely hoarding it like a dragon’s treasure. 🐉💰

“I think it has to be payments for it to be relevant every day. Otherwise, it’s just something you buy, then forget about until you’re in a pickle—or fancy converting it back into something you’ll actually spend. If it never becomes a proper ‘spend me daily’ sort of thing, it gets increasingly irrelevant. That’s failure to me,” Dorsey quipped.

Thus concludes our comedic saga in which this chap, armed with tweets, podcasts, and a certain flair for prophecy, warns us that our digital darling might need to stand up and pay the bill if it hopes to remain undeniably relevant. Who could have guessed that gold, especially the digital variety, might be a tad boring for everyday life? 😜

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2025-04-07 13:09