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Twitter Founder Sets Up His Own Bitcoin Node
By Shane Addinall Feb 09, 2021 IndustryThe head of Twitter, Jack Dorsey, is taking his support for Bitcoin to new heights. He has set up a Bitcoin Node in support of the underlying network of cryptocurrency, potentially adding to its current growth.The digital world is spinning with the latest changes, trends, and updates especially when it comes to payments.
Among the many predictions for the biggest trends for 2021 was the growth and advancement of cryptocurrency.
Despite efforts to curb its use by some, industry giants are skyrocketing crypto’s popularity simply by showing up and showing support.
Twitter Boss Sets up Bitcoin Node
Jack Dorsey, CEO and founder of Twitter and head of payment app, Square, set up a Bitcoin node in support of the underlying network of the cryptocurrency.
Dorsey joined in support of the #EndSARS protest currently running to take over Nigeria. The social media giant tweeted “Donate via Bitcoin to help #EndSARS” while simultaneously retweeting information provided by the Feminist Coalition of the modes by which contributions can be made.
Dorsey has been an avid Bitcoin supporter for years and has been quoted saying it is probably the best native currency online because it is consensus-driven and built by everyone.
In fact, just a couple of days ago, Jack Dorsey’s other operation, Square Inc. (NYSE: SQ) purchased 4,709 bitcoins - which is estimated at around $50 million. With the purchase, the company revealed it was an investment in a tool for economic enhancement of future payment systems. This being something that aligns with Square’s objectives.
On 5 February 2021, Dorsey tweeted a screenshot of the node in action along with the caption “Running #Bitcoin”. The Twitter giant revealed his big Bitcoin spending habits in 2019. At the time, bitcoin was worth one-tenth of the price it is today but Dorsey spends thousands of dollars a week in anticipation of a market turnaround.
Dorsey was quoted stating his belief of a massive acceleration that is expected to happen within the next 10 years. Rather than waiting for it to happen Dorsey wants to be among the few who helps make it happen.
High-Profile Support From Around the World
Dorsey is just one of many high-profile figures who have shown up to support the growing cryptocurrency.
With the high-profile figures going public with their support, Bitcoin has experienced massive price gains in mere months.
The majority are institutional investors looking to diversify their portfolio, especially now with growing financial uncertainty caused by the coronavirus pandemic.
Other big industry names such as Elon Musk have also shown support of cryptocurrency. Musk made a bold by changing his Twitter bio to a single word.
It simply reads: “Bitcoin” – clearly stating his support for the cryptocurrency.
The SpaceX and Tesla boss spoke out during a recent Q&A session on the app Clubhouse, where he confirmed his interest and made several positive predictions for Bitcoin.
Musk believes Bitcoin is on the verge of getting broad acceptance by conventional finance people.
And with Jack Dorsey running a Bitcoin node, there is more concrete support offered for the cryptocurrency. As Dorsey is also head of the online payment platform, Square, and with a Bitcoin node in place, there is digital infrastructure provided for the validation of transactions on the network.
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