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

Oct 27, 2021 | CoinTelegraph News | 0 comments

Dorsey suggested that the new initiative is incentivizing content creation and cryptocurrency adoption alike.

Back in September, Twitter became the first major social media platform to adopt Bitcoin (BTC) tipping, enabling users to send BTC directly to their favorite content creators through the site’s native frontend. The company also allowed users to send their BTC over the Bitcoin Lightning Network to ensure near-instant settlement times.

In response to an analyst’s question regarding how cryptocurrencies play into the company’s overall global strategy, Dorsey said the following during the company’s third-quarter earnings call on Tuesday:

“It [Bitcoin tipping] allows for much more speed. Both tipping subscriptions are new. These are products that we want to make sure that again, we started small and we figure out the right product that people want to stick with and they’re evaluating every single day. And then we’ll roll them out to more and more people and scale it and continue to iterate on the product.”

Dorsey anticipated that the company could eventually integrate Bitcoin tipping with enterprise initiatives, such as in partnerships with advertisers on the platform. The number of monetizable users on Twitter has grown by 13% year-overyear to 211 million worldwide.

Earlier this month, financial services platform Square — also founded by Dorsey — announced plans to build an open-source bitcoin mining ecosystem. At the time, Dorsey stated that the company’s goal was to help further decentralize Bitcoin to increase the technology’s distributed resilience.

News Source from CoinTelegraph.com

Related Articles

Ethereum L2 Scene Heats Up With Boba Network Taking Second Spot in TVL

Ethereum L2 Scene Heats Up With Boba Network Taking Second Spot in TVL

Boba Network, a recently released L2 layer for Ethereum, has quickly jumped to second place in TVL (total value locked) among all expansion layers. Boba, which is a fork of Optimism, another L2 layer based on rollups, reached more than $1 billion in TVL, surpassing...

Hacked cloud accounts are being used to mine crypto, says Google

Hacked cloud accounts are being used to mine crypto, says Google

A report released this week by Google indicates that a majority of recently attacked accounts on its Google Cloud Platform service were used to mine cryptocurrency. The Threat Horizons report for November stated that "[m]alicious actors were observed performing...

Pin It on Pinterest

Share This