Bitcoin has had a troubled start to 2019 with many predicting the long-running bitcoin bear market, which has seen the bitcoin price fall by some 80% over the last 12 months, could run on well into this year.
Not all are predicting doom and gloom for bitcoin, however. And now the chief executive of microblogging site Twitter and payments processor Square, Jack Dorsey, has repeated his prediction that bitcoin will “probably” become the internet’s “native currency.”
Dorsey, who has previously talked up the potential of bitcoin and decentralized cryptocurrencies, was speaking to podcaster Joe Rogan in a wide-ranging interview that covered bitcoin, blockchain, free speech, and the formation of Twitter and Square.
“I believe the internet will have a native currency and I don’t know if it’s bitcoin. I think it will be [bitcoin] given all the tests it has been through and the principles behind it, how it was created,” Dorsey told Rogan, who has previously hosted bitcoin and cryptocurrency advocate Andreas Antonopoulos.
“It was something that was born on the internet, was developed on the internet, was tested on the internet, [and] it is of the internet,” Dorsey added.
Dorsey’s San Francisco-based Square has supported bitcoin since 2014, when it began allowing merchants to accept bitcoin, and then added bitcoin trading to its popular Cash App in early 2018, letting users send bitcoin to one another.