Crypto Prices Fall; Twitter CEO Still Believes Bitcoin to be Internet’s Currency

Investing.com – Crypto prices traded lower on Monday in Asia. While not a directional driver, reports that CEO and co-founder of Twitter Jack Dorsey said he still believes Bitcoin will be internet’s native currency received some focus.

Dorsey made the comments in an interview with American comedian and podcast host Joe Rogan on Feb 2.

“[Bitcoin] was something that was born on the internet, that was developed on the internet, that was tested on the internet…It is of the internet,” said Dorsey. He has made similar remarks last year in May.

During the interview, Rogan also asked Dorsey if he foresees any pushback in regards to Bitcoin, to which he answered by suggesting to “just look at some of the major banks and their considerations on Bitcoin.”

Dorsey noted that “they all love blockchain, because of the efficiencies it can create for their business and potentially new business lines,” but then suggested that this technology is “certainly threatening to certain services behind banks and financial institutions, it’s threatening to some governments as well…”

On Monday, Bitcoin slipped 0.7% to $3,456.9 by 12:55 AM ET (05:55 GMT).

Ethereum slid 2.5% to $107.38, XRP traded 2.8% lower to $ 0.30106, and Litecoin was down 2.3% to $33.642.

In other news, cryptocurrency exchange QuadrigaCX is reportedly missing CA$190 million dollars ($145 million) in digital assets following the sudden death of its founder Gerry Cotton.

The Globe and Mail reported on Feb 1 that the firm has been unable to locate or access the funds since Cotten passed on Dec. 9, as he was the only person that has access to the system that stores the funds. He was also the only one that knows the passwords and the recovery key.

The exchange filed for creditor protection in compliance with the Companies’ Creditors Arrangement Act (CCAA) on Feb. 1, the report added.

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