Twitter integrates bitcoin into the social network

According to company founder Jack Dorsey, Bitcoin is the best candidate to become a global currency.the Internet and will be integrated into the products and services of the social network.

Twitter founder Jack Dorsey stated thatthe social network will support Bitcoin, TechCrunch reports. The first cryptocurrency will be integrated into Twitter's existing products and services, including paid subscriptions, commerce, and the ability to support authors, Dorsey said.

Bitcoin is the best candidate for the global currency of the Internet, Dorsey said.

“There is an obvious need for this.I think an open standard that is native to the internet is the right way to go. Therefore, our focus will ultimately be on bitcoin, ”said the founder of Twitter.

Dorsey also serves as CEOcompany Square, which develops payment systems. In early May, Square published a financial report for the first quarter of 2021, according to which the return on investment in bitcoin was $ 3.5 billion.

Square last invested in bitcoin inFebruary 2021. Then the company bought $ 170 million worth of cryptocurrency at an average price of $ 51 thousand. Prior to that, it bought bitcoin in October 2020. Cryptocurrency now accounts for about 5% of Square's total reserves.

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