Jack Dorsey's ultimate bet, 'we are bitcoin only'

Anand Sinha

Tue, Jun 3, 2025, 5:12 PM 2 min read

Jack Dorsey's ultimate bet, 'we are bitcoin only' originally appeared on TheStreet.

Former Twitter CEO and Block, Inc. (NYSE:XYZ), formerly Square, founder Jack Dorsey has placed all his bets on Bitcoin.

Dorsey's Block is the company behind Cash App, formerly Square Cash, which is a digital wallet offering Bitcoin and stock trading, among other financial services, to U.S. customers.

As a user recently hailed Cash App's Direct Deposit to Bitcoin service for zero-fee conversion, Dorsey wrote on X, "we are bitcoin only. and improving rapidly."

The user added:

It's the absolute best way to accumulate bitcoin.

Dorsey is a well-known Bitcoin advocate who believes that the king coin needs to provide real use cases and stop being merely a store of value. He seems to be walking the talk, as the Cash App has integrated Bitcoin into its platform for several years now.

The billionaire tycoon is a big fan of Bitcoin's permissionless model:

You don’t need anyone’s permission to build what you want to see, and that’s just incredible.

Bitcoin's total market value will surpass $20 trillion by 2030, which will drive its price up to at least $1 million, Dorsey believes as he is very optimistic of the future of Bitcoin.

As per Kraken's price feed, Bitcoin was trading at $106,109.28 at the time of writing. Only recently, it hit an all-time high (ATH) of $111,970.17 on May 22.

To reach Dorsey's target, Bitcoin needs to grow at an average annual rate of approximately 56.9% until 2030. This is an extraordinary target, but the cryptocurrency has grown more than 50% over a year.

Jack Dorsey's ultimate bet, 'we are bitcoin only' first appeared on TheStreet on Jun 3, 2025

This story was originally reported by TheStreet on Jun 3, 2025, where it first appeared.