Former CEO of Twitter Inc (NYSE:TWTR) and Bitcoin (CRYPTO: BTC) advocate Jack Dorsey shed some light on why he feels strongly about the leading digital asset.
What Happened: Speaking to MicroStrategy Incorporated (NASDAQ:MSTR) CEO Michael Saylor at the Bitcoin for Corporations conference on Tuesday, Dorsey said Bitcoin “gets a lot of knocks” in technology mainstream media as opposed to Ethereum (CRYPTO: ETH).
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Dorsey noted that in terms of speed of development, Ethereum moves “very, very fast” in comparison to Bitcoin.
“But it’s a question of what is the ultimate outcome of those moves. Bitcoin is very deliberate about what goes in and what stays out … It’s slower, but slower things tend to last and they tend to be a whole lot more predictable in terms of the direction they’re going,” he said.
“They tend to be a lot more secure. They tend to have far better uptime and usability than anything else.”
What Else: Dorsey’s efforts to contribute to the continued development of Bitcoin have been increasingly evident over the last few months.
His payments company Square has rebranded to Block Inc (NASDAQ:SQ) and just last month announced plans to develop a new Bitcoin mining microchip.
He also went on record to state that Meta Platforms Inc (NASDAQ:FB) would have been better served if it focused its efforts on Bitcoin instead of trying to develop its own cryptocurrency Diem.
BTC Price Action: At press time, Bitcoin was trading at $38,277, up 4.6% in the last 24 hours.