Jack Dorsey Exits from Twitter — What Might be the Reason?

Jack Dorsey Exits from Twitter — What Might be the Reason?
  • Jack Dorsey has announced his surprise resignation from Twitter.
  • His love for Bitcoin might be one of the reasons for his resignation.
  • Square is the third-largest public holder of Bitcoin.

Jack Dorsey co-founded Twitter in 2006, has been served as Chief Executive Officer (CEO) of Twitter. And his is the founder and CEO of Square. On Monday, Jack Dorsey has announced his surprise resignation from Twitter.

More so, for more than 15 years, his freewheeling approach has helped him become an iconic figure in Silicon Valley. Jack Dorsey has earned a reputation as a chaotic and distant manager who vexed Wall Street and sometimes befuddled his employees.

Furthermore, in a conference, he made the statement as mentioning his love for working on Bitcoin. When announced his decision to resign his Twitter CEO post, crypto fans around the world were excited. But everyone there is the question that what will be the next for the Jack Dorsey, even Changpeng Zhao, Binance CEO has the same question.

Moreover, Jack Dorsey has resigned only his CEO post on Twitter but he is also the CEO of Square, the financial services and digital payments company. So we can understand that the Twitter co-founder is choosing to focus on the payments arm over his social media platform.

Jack Dorsey – CEO of Square 

Henceforth, not sure, but this might be the case, Twitter recently announced a dedicated core team to focus and concentrate on crypto and blockchain innovation. But, Twitter CFO Ned Segal has not pushed Dorsey’s crypto support for the platform. As per Wall Street Journal, previously, Segal has commented that cryptocurrencies investment doesn’t make any sense currently.

Square is the third-largest public holder of Bitcoin. It holds nearly 0.5% of its cap in BTC, which comes to around 0.038% of the total supply of the asset, worth nearly $450 million.

Even more, Crypto analysts and Crypto-influencer CryptosRUs believe that Dorsey might even follow Michael Saylor’s footsteps with Square. Jack Dorsey, Twitter bio just reads’[#bitcoin’, is enthralled with crypto. In August Dorsey claimed Bitcoin will unite deeply divided countries, and eventually the currency.

Therefore, Twitter may not be the right platform for his crypto ambitions. Twitter still lags behind competitors in e-commerce. But, Square may give Dorsey the financial platform he needs to realize his crypto-perfect dreams. Hence more, via square, not through Twitter, Dorsey may be able to bet on the future of crypto.

A dedicated writer who shows her interest in writing all sorts of content about the cryptocurrency market in NewsCrypto. She is an enthusiastic reader and writer with passion for sharing crypto news and trends.