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Famous Billionaire Jack Dorsey Spoke About Bitcoin: "If It Continues Like This, BTC Will Fail!" He Explained Why and What Needs to Be Done!
US President Donald Trump's announcement of reciprocal tariffs with 185 countries, including China, negatively affected Bitcoin and altcoins.
Because Trump imposed an additional 34% tax on China, China retaliated in response.
The tension between the US and China has led to significant BTC and altcoin declines to levels not seen in a long time, while important BTC statements came from Block CEO Jack Dorsey.
In a recent statement on the "Presidio Bitcoin" podcast, Jack Dorsey claimed that Bitcoin would ultimately fail if it is only used as a store of value and does not become a method of payment.
Dorsey stated that Bitcoin has strayed from its original vision as a "peer-to-peer electronic cash system" outlined in the whitepaper, advocating for the development of fast, private, and secure payment solutions, and for Bitcoin to be included as a payment method.
Dorsey, stating that Bitcoin is a store of value comparable to gold and that many people have invested in BTC, mentioned that even if this is a success, Bitcoin carries the risk of extinction if it is not accepted as a payment method.
"I think Bitcoin needs to be used in payments for it to continue to exist in daily life."
Otherwise, it will be something you buy and forget, only to use in emergencies or when you want to get liquid again.
For this reason, it is not used in payments and if it is not found in daily use, Bitcoin becomes increasingly insignificant. And this is a failure for me.