Jack Dorsey, the CEO of Twitter, has once again rejected the notion of him investing in the cryptocurrency Ether (ETH), despite the fact that the social media platform is involved with Ethereum-based nonfungible tokens (NFT).
The giveaway was announced on Wednesday as part of a collaboration between Rarible and the social media platform Instagram. Rarible is a major non-financial technology (NFT) platform that mints digital collectible tokens using the Ethereum blockchain network.
Twitter released 140 non-fungible tokens (NFTs) on Ethereum — the foundation for the second most valuable cryptocurrency after Bitcoin (BTC), but Dorsey appears to be solely focused on Bitcoin at the moment (BTC).
Following the announcement of the NFT, a Twitter user by the name of Packanimal speculated that it was “only a matter of time before” Dorsey made an investment in Ether, to which the CEO responded simply, “No.”
— jack (@jack) June 30, 2021
When Twitter CEO Jack Dorsey issued a two-letter rant on Ether, the crypto community reacted angrily, with Cinneamhaim Ventures’ Adam Cochran criticizing Dorsey for, among other things, “remaining a BTC maxi” while Twitter “prints Ethereum-based NFTs on Rarible,” among other things. Cochran added: “With this level of mental gymnastics I’m surprised he won’t be representing the US at the 2021 Olympics in Tokyo this year.”
In addition, the commentator expressed surprise that the United States would not be represented at the 2021 Olympic Games in Tokyo this year, given the level of mental gymnastics exhibited by the athlete.
According to Twitter user Dorsey, who also happens to be the co-founder and CEO of crypto-friendly digital payments firm Square, “I only have bitcoin,” in a previous tweet, indicating that he was solely committed to Bitcoin. He made the following statement at the Bitcoin 2021 conference, which took place in early June: “Bitcoin changes absolutely everything. […] I don’t think there is anything more enabling for people around the world.”
Dorsey, a long-time supporter of Bitcoin, has argued on numerous occasions that Bitcoin will eventually replace all other currencies on the internet, at the very least until 2018.
He had previously stated that he would not be investing in alternative cryptocurrencies such as Ether in 2019, and that he would instead only be making investments in Bitcoin in 2019.
Some of the most prominent Bitcoiners, according to Bitcoinist, are publicly admitting that Ether has the potential to supplant Bitcoin as the most valuable cryptocurrency in the world at a time when Bitcoin is currently the most valuable cryptocurrency in the world.
The cryptocurrency Ether may one day surpass all other cryptocurrencies in market capitalization, according to Galaxy Digital founder and CEO Mike Novogratz, who made the prediction on Thursday, according to CNBC.