Jack Dorsey Thinks Bitcoin Will Replace USD – It’s a Strong Possibility, but the Road Is Still Long

The world will need a neutral, apolitical reserve currency sooner or later.

At the end of November 2021, Jack Dorsey announced on Twitter that he was leaving his position as CEO of the company he founded. Some people wondered what were the reasons that pushed Jack Dorsey to leave his position as CEO. In the days since he departed from Twitter, we've gained some insight into the reasons behind Jack Dorsey's decision.

A long-time Bitcoiner, Jack Dorsey has decided to move on to the next level as 2021 comes to a close. The electronic payment company Square, which he co-founded and serves as CEO, was renamed Block in the process. Square's crypto division, meanwhile, has been renamed Spiral.

These changes had been in the works for many months, but Jack Dorsey heard the right timing to announce them. His departure from Twitter was the right time for him.

Square is renamed Block ...

If Square is renamed to Block, the goal of Jack Dorsey's company will always remain the same:

“Block is a new name, but our purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to build tools to help increase access to the economy.”

Block is going to be an umbrella brand covering various types of the group's businesses: Tidal, TBD54566975 (the non-name for its planned decentralized exchange for Bitcoin), Cash App, Square, and Spiral.

The corporate name Block chosen by Jack Dorsey owes nothing to chance:

“Block has many associated meanings for the company -- building blocks, neighborhood blocks and their local businesses, communities coming together at block parties full of music, a blockchain, a section of code, and obstacles to overcome.”

... And all the efforts of Jack Dorsey will now be directed towards Bitcoin so that its revolution benefits the greatest number