• Block Chief Executive, Jack Dorsey, has offered his thoughts on how Bitcoin could fail.

• Dorsey’s thoughts go against the current story.

• The CEO statements of the Block have caused an amazing way.

Bitcoin is a means of exchange, a valuable warehouse, or maybe both? This question is still the subject of serious discussions, especially in the basic Bitcoin circles.

The debate has been reflected by statements by the Twitter co -founder and Block Inc. (NYSE:Xyz) CEO Jack Dorsey.

Doversy has stated that Bitcoin will fail if it becomes nothing more than a value store. Said it while talking to Haley BerkoeBlock subsidiary Marketing Manager and the Bitcoin Spiral development focus on a “Presidio Bitcoin” podcast episode Last week. According to him, Bitcoin succeeds through payments.

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Dorsey’s statements arrive at a time when Bitcoin’s main storytelling It is that it has the potential to become a value warehouse at a time with gold due to its limited supply. This thesis has left many who do not want to spend their coins in the hope that the value of the asset will continue to grow.

But in Dorsey Teller, Value Focus’s current shop presents a path to “irrelevance”.

“ I think it must be the payments to make it relevant every day. Otherwise, it is only something you buy and forget and use only in emergency situations or when you want to be liquid again. So I think that if you do not go to payments and find this case of everyday use, it is only increasingly irrelevant.And this is not what I cannot do, ” he said to Berkoe.

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To face the concerns about climbing and volatility, Dorsey defended a focus on creating simple and accessible payment solutions that prioritize speed, privacy and security. He argued that over time, greater accessibility and a renewed approach to the ideals born of the cryptocurrency, the question of volatility would also be addressed.

Dorsey seemed like Bitcoin had moved away from his original view.

“There are tons of things we have to do to return to the white book, that is, you know, a system for electronic digital cash in Peer-to-Peer as we have not seen it yet.”