Altcoin News: Twitter CEO Jack Dorsey Weekly Invests $10k in Bitcoin

March 6, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Jack Dorsey is the head of Twitter. He is also co-founder of Square, an American payment service. He was a guest in the podcast Tales From The Crypt by Marty Bent. They talked extensively about Bitcoin.

Ten thousand dollars every week

One of the most remarkable statements is that Dorsey buys Bitcoin every week for ten thousand dollars. At the current price that is about 2.7 BTC. He certainly intends to hold this pattern in the coming weeks.

If Dorsey keeps up with these purchases, he would buy Bitcoins for 520,000 dollars in a year, or a fraction of his assets that would be valued at 5.6 billion dollars. In relative terms, this does not seem like much, but it does say something about its strategy.

Spread investing

Dorsey buys for the long term, and he does the dollar-cost average. The latter means that you buy the same amount at a fixed time in the week or month. In the long term, you will be less affected by fluctuations in the price.

He is really a Bitcoin maxim. When asked where his trust in Bitcoin comes from, he answers:

“The internet has always wanted its own currency, but the right technology was not yet developed (with the right principles, uniform and passionate early adopters) until ten years ago.”

In an earlier conversation with Joe Rogan, Dorsey expressed his belief even more decisively:

“The internet will have a currency, and that will be Bitcoin. Bitcoin was born on the internet, developed on the internet, tested on the internet. Bitcoin is from the internet. “

Remarkable Tweets about cryptocurrency

Everything Jack Dorsey shares and does on his social media platform is under a magnifying glass. He was widely praised for participating in the Lightning Torch.

Another good example was when a fan of Justin Sun and his coin Tron asked Dorsey what he thought of Tron (TRX). Dorsey’s answer: “love the movie.”

And when he was asked what he thought of Bitcoin cash (BCH), Dorsey said “hell no!”

Author: Marko Vidrih