Bitcoin will replace US dollar, says former Twitter CEO Jack Dorsey

Former Twitter CEO Jack Dorsey on Tuesday said that cryptocurrency Bitcoin will replace the US dollar.
 
Replying to a tweet by rapper and songwriter Cardi B, in which she asked if cryptocurreny will replace dollar, Dorsey wrote, "Yes, Bitcoin will."
 

 
Last month, Dorsey resigned from his role as the CEO of Twitter and the company announced that its Chief Technical Officer (CTO) Parag Agrawal will take over as the next CEO.
 
Dorsey has been a big supporter of Bitcoin. He is also the co-founder and CEO of financial services company Block, formerly known as Square Inc. 

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In July, he had tweeted that Square will be creating a new business focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permission-less, and decentralised financial services. He said that the company's main focus will be Bitcoin.
 
Earlier in February this year, Dorsey had said that he and rapper Jay-Z were up teaming up to create a new trust which will fund Bitcoin development, with initial focus on teams in Africa and India. He said they will give 500 Bitcoins to the trust, and were looking for three board members for it. 
 
Later in November, the former Twitter CEO said that they had reviewed over 7,000 applications and shortlisted six candidates, who will be interviewed to select the three board members.
 
On Tuesday evening, Bitcoin was trading 6.53 per cent higher at $48,745.04.

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