Jack Dorsey has this week taken issue with venture capital firms for pushing a 'false' idea of a decentralised Web3
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Block CEO Jack Dorsey weighs in on the Bitcoin vs. Dollar debate
Former Twitter and current Block (previously Square) CEO Jack Dorsey had his say on the Bitcoin v Dollar topic. Replying to a Tuesday tweet by American rapper Cardi B posing whether Bitcoin will replace the Dollar, the Bitcoin enthusiast was affirmative in his reply. His response sent waves across crypto communities, receiving engagements from both divides of argument.
His standing was anything but a surprise, as Dorsey has frequently professed his passion for Bitcoin. He previously remarked that Bitcoin is the most important thing he needs to work on in his lifetime. Last month, the Twitter co-founder left his position as CEO of the social media giant and will now focus on his digital payments and financial services company, Block.
Following the tweet, market changes gave Bitcoin a slight bump. The world's largest crypto coin has been on a downward trend occasioned by worries over the impact of the Omicron variant in recent weeks. This week, it also became clear that Dorsey is no fan of Web3, or rather the technology's control by venture capital firms.
On Tuesday, the Bitcoin bull tweeted out saying Web3 was nothing short of a centralised entity. The spat with VCs and the whole idea of Web3 went on with Elon Musk joining on asking if anyone had seen Web3. Dorsey replied, "it's somewhere between a and z," possibly implying it is controlled by venture capital firm a16z.
