Business

Jack Dorsey: Bitcoin Will Be The World’s ‘Single Currency’

Twitter co-founder and CEO, Jack Dorsey, expects bitcoin to be the world’s “single currency” in the future, CNBC reports.

Dorsey is also the CEO of Square, Inc., a company that sells modern tools for businesses to keep up with current trading technology such as registers, drawers, and receipt printers that can be connected via the Square app.

Square users can also trade bitcoin everywhere except New York, Wyoming, Georgia, and Hawaii with a $10,000 buying limit and no selling limit.

Stores across the world have signs in and outside their stores that read, “Bitcoin accepted here.”

While Dorsey acknowledged that bitcoin “does not have the capabilities right now to become an effective currency,” he also said, “The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin.”

The popular cryptocurrency surged to a record trade value of $19,000 in December. After taking a sharp price drop in February, it was up to $9,000 as of Wednesday morning.