in

Bitcoin Believer Jack Dorsey Steps Down As Twitter CEO, But For What? – Bitcoinist.com

Jack Dorsey twitter bitcoin TWTR_2021-11-29_10-09-01


Reports have surfaced that Twitter CEO Jack Dorsey will be stepping down from his executive role with the company. But what might the Bitcoin supporter be focused on next and will it directly involve the leading cryptocurrency by market cap?

CNBC: Jack Dorsey To Step Down At Twitter CEO

According to CNBC’s David Faber, sources close to the matter have revealed that Jack Dorsey, CEO of Twitter and Square, Inc. would be stepping down from his role in charge of the social media platform. CNBC has shared very little details beyond the revelation itself.

Related Reading | Running Bitcoin: Passing The Torch From Hal Finney To Jack Dorsey

It is not yet clear who might replace Jack Dorsey at the helm of Twitter, nor what the motivation was behind his stepping down. The originating article speculates that Dorsey stepping down could be due to push from Twitter “stakeholder” Elliott Management.

“Elliott Management founder and billionaire investor Paul Singer had wondered whether Dorsey should run both of the public companies, calling for him to step down as CEO of one of them, before the investment firm reached a deal with the company’s management,” CNBC reports.

Twitter shares rose more than 3% on the news, but trading was halted.

Twitter shares were halted after a 3% rally | Source: TWTR on TradingView.com

Speculating On Bitcoin Involvement, Square Inc. And More

Since CNBC only speculates as to what the motivation is behind Dorsey allegedly stepping down as CEO of Twitter, let’s also do the same.

Given Dorsey’s belief in Bitcoin and the continued focus in that area across most of his business strategies, the Square, Inc. CEO could very well be centering his future efforts there.

The allegedly soon-to-be former Twitter CEO is perhaps best compared to Hal Finney in terms of the positive impact he has had on the cryptocurrency ecosystem. Both of have famously tweeted about “Running Bitcoin,” and both are now names nearly as synonymous with the top ranked crypto asset as Satoshi Nakamoto themselves.

Related Reading | Twitter Integrates Bitcoin And Lightning In Tips Feature Update

Finney’s legacy has sadly ended, but could Dorsey’s truly just be at the very beginning in terms of what the business entrepreneur could bring to the overall Bitcoin ecosystem?

Could this bold move of stepping down at Twitter CEO be a selfless act toward improving cryptocurrency’s place in the financial world? The answer, in some capacity, is likely yes considering the laser-eyed focus the tech leader has had for several years now.

Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice.

Featured image from iStockPhoto, Charts from TradingView.com





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

What do you think?

USDC

After Tether, Circle’s $5 Billion USDC Issuance Comes Under scrutiny

Kraken Announces Support for Shiba Inu (SHIB)