Answering Cardi B's Rapper Question, Jack Dorsey Says Bitcoin Will Replace The US Dollar

Jack Dorsey says Bitcoin will replace the US dollar (DigitalReport)

JAKARTA – When Jack Dorsey was asked by rapper Cardi B if Bitcoin would replace the US dollar, the former Twitter CEO replied that it would. The question was asked by Cardi B via Twitter account on December 21, 2021.

Do you think crypto is going to replace the dollar?

— Cardi B (@iamcardib) December 21, 2021

This shows that the “WAP” singer is backing the number one cryptocurrency by market cap to replace fiat currencies. The Grammy Award winner's Twitter post sparked a number of reactions from followers regarding Cardi B's interactions with Jack Dorsey.

Bitcoin proponent Dennis Porter thinks such conversations are inevitable. Apart from Porter, Dogecoin (DOGE) founder Billy Markus also joined in by posting a meme related to Dogecoin which is considered more stable than the US dollar.

well $doge is more stable than the dollar, proof: pic.twitter.com/U3DnsUcuu0

— Shibetoshi Nakamoto (@BillyM2k) December 21, 2021

Reporting from U.Today, after Jack Dorsey resigned as CEO of social media giant Twitter at the end of last November, he also changed the name of his mobile payments company Square to Block. Dorsey decided to become a full-time Bitcoin advocate.

For information, the choice of the name Block actually refers to the technology that underlies the cryptocurrency, namely blockchain. The name change reflects Dorsey's entry into the crypto environment entirely. Moreover, in a separate tweet, Dorsey also mentioned “web3” which is the next generation of decentralized internet.

Jack Dorsey is not the only billionaire who supports cryptocurrencies. The richest person on planet Earth and CEO of Tesla and SpaceX, Elon Musk also supports cryptocurrencies. But Elon Musk's views on web3 are not in line with Dorsey's.

In a Twitter post in early December, Musk referred to web3 as "BS" which is an abbreviation of bullshit. The Tesla boss thinks that the term web3 sounds more like "keyword marketing" than the future of the internet.

On another occasion Dorsey assessed the importance of focusing on robust technology that is not centralized and owned by people. In this case it supports web3 which is neither centralized nor decentralized as there is no single entity governing it.