More On: Bitcoin
Senators and regulators explain why the $60 billion collapse of a major cryptocurrency is not the industry's Bear Stearns moment
In an interview with CNBC, Jack Dorsey, the co-founder and CEO of Twitter, explained why he believes the Bitcoin price will climb again.
I don't watch the price. I know it will always gain in value over the long term as more people are able to use it.— jack⚡️ (@jack) May 13, 2022
When it comes to Bitcoin's pricing, Jack Dorsey has a good idea of what to expect
An American journalist and non-fiction author, Tom Philpott, sent out a tweet that prompted a response from Jack. Philpott chastised Dorsey for tweeting about Kendrick Lamar, his new album, and his impending tour instead of watching and commenting on "Bitcoin is burning."
According to Dorsey, he wasn't paying attention to the Bitcoin price's demise. As far as he's concerned, he's confident that BTC will always recover. His belief is based on the fact that "more people are able to use" Bitcoin.
This month has been a rough one for the cryptocurrency industry as a whole. On May 4, the Federal Reserve raised interest rates by half a basis point for the first time in 22 years.
When Bitcoin fell from $39,000 to $31,000, it was due to a short-term surge. Terra's UST and LUNA coins were the second to fall, and no one expected it.
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