In a recent tweet, Twitter CEO Jack Dorsey confirmed that he was still buying Bitcoin worth $10,000 every week.
This statement implies that even post-halving of Bitcoin, Dorsey had not stopped trading in the cryptocurrency. Rather, he was maxing out the weekly buying limit on Cash App set at $10,000. Incidentally, Cash App is a subsidiary of his own payments provider, Square.
While following up on Dorsey’s previous comments, Bitcoin Munger had posed a question to the Twitter CEO.
Hey @jack, are you still maxing out your bitcoin buys?
— Bitcoin⚡️Munger (@BitcoinMunger) May 12, 2020
And the Twitter CEO gave a simple response, “Yes.”
Dorsey in Bitcoin trade since last year
Dorsey had been buying Bitcoins since over a year ago. In March last year, Dorsey shared this information on Tales from the Crypt, a podcast hosted by Marty Bent. He informed using Cash App to buy Bitcoins at the maximum weekly limit. At the time of going to press, that equates almost 1.05 Bitcoin a week.
Speaking on the frequency of his Bitcoin buy, the Twitter CEO admitted that he maxed out the Cash App weekly. He said, “I would have participated but I already exceeded my limit on the Cash App so I can’t purchase any more.”
Besides, when speaking about “Stacking Sats”, Dorsey stated that he “saw that on Twitter” and “thought that was awesome.” He, however, refused to specify his total stake in Bitcoin.
Notably, “Stacking Sats” is a movement that promotes buying small amounts of Bitcoin over long periods.
Twitter CEO as a Bitcoin enthusiast
Dorsey has long been known for cryptocurrency advocacy both personally and professionally and is especially a staunch supporter of Bitcoin for some time now. Last month, he had likened the Bitcoin whitepaper to “poetry”. He was speaking on the Artificial Intelligence podcast with MIT research scientist, Lex Fridman.
“We have something that is pretty organic in nature, and very principled in its original design,” he added.
Also, when speaking concerning his position on Bitcoin, he said that: “I think the most beautiful thing about it, is there’s no one person setting the direction, and there’s nothing one person, on the other side, that can stop it.”
It is pertinent to note that with the recent Bitcoin halving on May 12, Dorsey may not have so much Bitcoin for himself. This is because the cryptocurrency now has lower inflation than gold.