Twitter Founder Jack Dorsey Reaffirms Bitcoin as Currency
Twitter founder Jack Dorsey posted, "bitcoin is money".
Market mechanisms show that institutions and long-term holders are accelerating their view of Bitcoin as a core store of value and currency due to Dorsey's continued endorsement. Under this event-driven scenario, funds are flowing from altcoins, stablecoins, and other assets into Bitcoin spot and derivatives, benefiting Bitcoin-heavy companies like Block and MicroStrategy, while speculative small-cap coins are under pressure.
Source: Public Information
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Jack Dorsey has consistently claimed since 2018 that Bitcoin is the native currency of the internet. This brief statement continues his long-term strategic path, which has led Block (formerly Square) to significantly buy and hold Bitcoin as a core reserve asset since 2020.
In terms of capital strategy, Dorsey has been increasing his holdings through Block and regularly releasing proof of reserves, while also positioning Cash App as a mainstream entry point for Bitcoin. His motivation is to establish Bitcoin as a global currency standard, creating a long-term infrastructure position for his ecosystem and attracting more institutional investment.
Similar to Michael Saylor and MicroStrategy's long-term Bitcoin advocacy, as well as Block's own repeated public proof of holdings, Dorsey's current stance indicates that the Bitcoin narrative is at a critical stage of strengthening consensus from "digital asset" to "currency".
Essentially, this represents capital concentration: key opinion leaders like Dorsey are shifting market attention from diverse crypto experiments to Bitcoin's singular currency attributes. The mechanism involves founder endorsements and actual corporate holdings reinforcing trust, forcing capital to concentrate from dispersed altcoins into Bitcoin, thereby restructuring the crypto market from speculative diversity to Bitcoin-dominated monetization.