The bear market of 2018 has now entered 2019 with still no signs of a reversal. This is officially now the longest bear market in blockchain/cryptocurrency history. This price of Bitcoin which is already down by over 80% during the last 12 months is expected by many analysts to drop well into later this year. Despite this negativity, many are hopeful of a silver lining to this pain, with one prominent personality being Twitter CEO, Jack Dorsey.

Appearing on the hugely popular Joe Rogan podcast, Dorsey made a bold prediction that Bitcoin will “probably” become the internet’s “native currency.”

Throughout the comprehensive interview, Rogan and Dorsey covered a variety of topics from blockchain, Bitcoin, the foundation of Twitter and Square and free speech.

Dorsey stated, “I believe the internet will have a native currency and I don’t know if it’s bitcoin. I think it will be given all the tests it has been through and the principles behind it, how it was created…”It was something that was born on the internet, was developed on the internet, was tested on the internet, [and] it is of the internet.”

His San Francisco based company Square has been a strong supporter of Bitcoin since 2014, when it introduced the acceptance of Bitcoin payments for merchants and then added Bitcoin to its popular Cash App in early 2018, allowing users to send Bitcoin to one another.

Dorsey also added that he sees Bitcoin, the original and most prominent cryptocurrency is still his token of choice.
“The world ultimately will have a single currency; the internet will have a single currency…I believe that it will be bitcoin … (It would happen) probably over ten years, but it could go faster.”

Following its initial introduction via Satoshi Nakamoto Bitcoin has been a significant proponent of what has helped crypto evolve blockchain into the mainstream. Jack Dorsey may very well be right about Bitcoin, or other currencies like ETH or XRP may end up being the next ‘online currency.’ One thing is for sure; the crypto space is still growing and maturing, and will probably be one of the most significant trends in economics for a long time…once we have managed to get out of this bear market.

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