Jack Dorsey Says Bitcoin is Internet's Only Money
Ecosystem Block
Block's operations have developed to the point where they practically span every aspect of economic activity; according to the company's CEO, it's impossible to categorize them.
“We are no longer just a payments company. A lot has changed since our last investor day.”
It's worth noting that the remarks were made at the firm's first Investor Day in five years. According to The Block's CEO, the bitcoin and music streaming industries should be valued as an "environment." He also stated that the company's efforts in Bitcoin, as evidenced by its Bank-like Cash App that allows peer-to-peer payments and BTC transactions, will continue to be its core approach.
Bitcoin as the Only Internet Money
According to a transcript obtained by CNBC, Dorsey commented on the relative sluggishness of Bitcoin's development, stating that "deliberateness" is essential to integrate money storage and transmission. Block's crypto ventures include a Bitcoin hardware wallet, a self-built Bitcoin mining system, TBD (previously known as Square crypto), an open-source, developers-oriented business, and Spiral (formerly known as Square crypto) for furthering the use of the asset.