Bitcoin Needs to Be More Than Digital Gold, Says Former Twitter CEO
Block Inc. CEO and Twitter co-founder Jack Dorsey has issued a bold statement on the future of Bitcoin, warning that if the digital currency fails to become a tool for daily payments, it risks irrelevance.
Speaking in an interview with Mike Solana on the “Mike Solana Show,” Dorsey emphasized that Bitcoin must evolve beyond its status as a store of value—often compared to digital gold—and find mainstream use as a transactional currency.
“If it’s not used every single day in people’s lives, it’s going to be irrelevant,” Dorsey said.
“It’s going to only be owned by the very few. And it will be a completely useless thing.”
Dorsey’s Vision: Decentralization Through Utility
Dorsey, a long-time Bitcoin advocate, described his belief that the cryptocurrency is uniquely suited to build a more open and decentralized financial system, but only if it reaches everyday adoption.
“It has to be used for utility. It has to be used as a currency,” he argued.
He cautioned against the increasing trend of hoarding Bitcoin as a speculative or purely investment asset, saying such behavior undermines its potential to function as peer-to-peer electronic cash, which was Satoshi Nakamoto’s original vision.
Block’s Bitcoin Play: From Mining to Wallets
Dorsey’s fintech firm, Block (formerly Square), has taken multiple steps to support Bitcoin’s infrastructure and usability:
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Launching self-custody wallets
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Investing in Bitcoin mining hardware
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Committing to BTC-based financial tools
Block has also integrated Bitcoin payments into its flagship app Cash App, offering users the ability to buy, sell, and transfer BTC. These efforts align with Dorsey’s conviction that usability is the key to mass adoption.
A Warning to the Bitcoin Community
Dorsey’s remarks come at a time when Bitcoin is largely seen as a long-term store of value, especially after the approval of spot Bitcoin ETFs and increasing interest from institutional investors. However, he warns that this narrative, if unchallenged, could lead to Bitcoin becoming a financial asset controlled by elites, rather than a tool of economic empowerment.
“We need to get it in the hands of as many people as possible, and we need to build technologies that make it easy for people to use it every single day,” he said.
Final Thoughts: Can Bitcoin Be Both Store and Spend?
Jack Dorsey’s comments reignite a familiar but unresolved debate in the Bitcoin ecosystem: Should Bitcoin be treated as a savings instrument, or a usable currency?
While Layer 2 solutions like Lightning Network have made strides toward enabling fast and cheap BTC transactions, real-world usage for daily purchases remains relatively low outside of niche communities and select regions.
Still, Dorsey’s vision underscores the long-term challenge: if Bitcoin is to truly fulfill its revolutionary potential, it must go beyond investment portfolios and into the checkout line.
Whether the industry will rally behind this utility-first philosophy—or continue favoring the “digital gold” thesis—remains one of Bitcoin’s most important open questions.
