🧠 Twitter founder and long-time Bitcoin advocate Jack Dorsey has once again rocked the crypto community, declaring on X: “Bitcoin isn’t crypto.”
The post gathered over 4,000 comments, sparking heated debate even among industry veterans. Some saw it as a philosophical manifesto, others as an attempt to distance Bitcoin from the rest of the often toxic crypto market.
Historical note: Dorsey and Bitcoin
Jack Dorsey is not just a tech visionary. He was one of the first major entrepreneurs to publicly associate his name with Bitcoin.
His company Block (formerly Square) actively develops tools for accepting Bitcoin payments, and Dorsey has repeatedly stated that “no other cryptocurrency makes sense.”
For him, Bitcoin is not an asset, not an investment, and not a part of “crypto.” It is, essentially, a new form of digital money.
Why he says Bitcoin isn’t “crypto”
When users reminded him that Satoshi Nakamoto himself called Bitcoin a “peer-to-peer electronic cash system,” Dorsey nodded: that’s the key — “cash system,” not “crypto project.”
He argues: “Today’s ‘crypto’ is an industry of tokens, ICOs, hype, and speculation. Bitcoin is a technology of trust, not another tool for profit.”
Indeed, if one looks into Bitcoin’s white paper (2008), the term cryptocurrency does not appear even once.
Nakamoto described it as “an electronic payment system based on cryptographic proof instead of trust” — emphasizing its monetary rather than investment nature.
“Bitcoin is money”: Dorsey’s philosophy in practice
Before his bold statement, Dorsey wrote a simple line: “Bitcoin is money.” And it’s not just a slogan — his companies are actively moving in that direction.
- Square plans to launch a zero-fee payment system by 2026 — a move that could reshape small business.
- Block is investing in infrastructure for mass Bitcoin payments, including POS terminals and microtransactions via the Lightning Network.
- Dorsey also urges apps like Signal Messenger to integrate Bitcoin payments directly, allowing people to transfer funds “as easily as sending a message.”
Criticism: idealism vs reality
However, Dorsey’s ideal runs into an old problem — scalability. Bitcoin remains slow: transactions take minutes, and fees spike during network congestion.
David Schwartz, Ripple’s CTO, responded wryly: “If Jack says Bitcoin isn’t crypto, maybe he just wants to remind everyone that Bitcoin isn’t a speculation token but a payment system. Still, that doesn’t remove its technical limitations.”
A split in the crypto world
Dorsey’s words deepened a long-standing divide:
- Bitcoin maximalists argue that BTC stands alone and has nothing in common with tokens like Solana, Cardano, or Ethereum.
- Crypto-economy supporters claim Bitcoin is merely part of the broader digital ecosystem and isolating it makes no sense.
This debate isn’t just about semantics. It’s about the future of the financial system:
Will Bitcoin become “new money” for everyday transactions — or remain digital gold, a store of value and speculation?
💥 Where it leads
Dorsey calls for Bitcoin to reclaim its original mission — to be money, not an asset.
If his idea takes root, the industry could split for good:
on one side — “pure Bitcoin” as an alternative to the dollar,
on the other — all other crypto as a speculative innovation market.
And perhaps, a few years from now, the phrase “I have crypto” will sound as meaningless as “I have the internet” — too broad to mean anything at all.
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