Twitter CEO Jack Dorsey reiterates positive outlook on Bitcoin tipping over earnings call

In September, Twitter became the first major social media platform to adopt Bitcoin ( BTC ), allowing users to send BTCs directly to thei...



In September, Twitter became the first major social media platform to adopt Bitcoin (BTC), allowing users to send BTCs directly to their favorite content creators through the site’s native interface. The company also allowed users to send their BTC to the Bitcoin Lightning network to ensure near instant payment times.

In response to a question from an analyst about how cryptocurrencies play into the overall strategy of the company, Dorsey said the following during the company’s third quarter earnings call on October 26 :

“This [Bitcoin tipping] allows much more speed. The two tip subscriptions are new. These are products that we want to make sure that again we started small and found the right product that people want to stick with and review every day. And then, we will deploy them to more and more people, develop them and continue to iterate on the product.

Dorsey predicted that the company could eventually integrate the Bitcoin tip into company initiatives, such as partnerships with advertisers on the platform. The number of monetizable users on Twitter has grown up 13% year-on-year to 211 million worldwide.

Earlier this month, the Square financial services platform – also founded by Dorsey – has announced plans to create an open source bitcoin mining ecosystem. At the time, Dorsey said the company’s goal was to help decentralize Bitcoin further in order to increase the distributed resilience of the technology.