Jack Dorsey, the co-founder of Twitter, predicts that Bitcoin will soon replace the USD as a global currency in 10-15 years.
There is an ongoing de-dollarization trend with countries moving away from the US dollar as the main currency.
Dorsey emphasizes that Bitcoin is seen as permissionless and offers more freedom than fiat currencies.
Dorsey has a history of bullish Bitcoin predictions, including a $1 million price target by 2030.
Recently, many countries have abandoned the US dollar as their primary means of commerce.
This trend is known as "de-dollarization," countries like China, Russia, Brazil, Turkey, and India have started to choose alternative currencies like gold and their local currencies over the US dollar.
But what if there was a way for Bitcoin to step in?
According to Twitter co-founder Jack Dorsey in a recent group conversation, we might see a trend of global de-dollarization as more countries adopt Bitcoin as a universal means of trade.
Speaking to an audience last week at an exclusive summer solstice gathering held at a castle in Tuscany, Italy, Dorsey, the co-founder of Twitter and Block, shared his bold prediction for the future of Bitcoin.
The gathering, hosted by music producer Rick Rubin, saw Dorsey express his belief that Bitcoin is set to transform the global financial landscape.
Moreover, Dorsey believes this change will come within the next 10 - 15 years.
Dorsey predicted to the audience that Bitcoin is set to change completely from a simple store of value—mere digital gold—to the world's most dominant, permissionless means of commerce that people will use daily.
"People are starting to see the value of this system and why it's so powerful," the Twitter co-founder said.
According to Dorsey, the future might present scenarios where Bitcoin becomes the preferred payment method, dethroning the US dollar as the global standard.
Dorsey also emphasized the freedom Bitcoin offers individuals, investors, institutions, and even governments alike due to its decentralization compared to fiat currencies like the US dollar or Yuan.
Dorsey noted, "These are two entities that control the value of your money, and you don't elect them." "In contrast, you have much more freedom and control with Bitcoin."
Dorsey's prediction is interesting, as he has been one of the most vocal advocates of Bitcoin from the start.
In May of this year, he predicted during a Pirate Wires interview that Bitcoin might break the $1 price level by 2030.
According to Forbes, Dorsey's company, Block, announced that it plans to invest 10% of its gross profit from Bitcoin products into buying more.
However, despite Dorsey's Bitcoin optimism, there might be a few hurdles to cross, like the ongoing investigation by US prosecutors on Block over alleged issues with crypto-related compliance.
In sum, Dorsey's predictions suggest a bright future for Bitcoin, including a $1 million price tag by 2030 and a global presence in the next 10 - 15 years.
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