Photo by: JD Lasica from Pleasanton, CA, US
Jack Dorsey has officially stepped down from his role as Twitter’s (TWTR) CEO…
On December 1, Jack Dorsey left Twitter to focus on running Block (SQ), formerly known as Square. Prior to this announcement, Dorsey had been CEO of both Twitter and Block.
This is likely part of what influenced his decision to leave the company, as it’s already difficult to be the CEO of one publicly-listed firm. But being in charge of two meant that his attention had to be spread thin.
Beyond that, Dorsey had in the past faced shareholder opposition… With some calling for his resignation altogether.
That being said, there were even bigger reasons at play…
If you follow Dorsey on Twitter, you can see that much of his passion and public interest lies with Bitcoin and broader blockchain technologies.
Given the fact that Block already operates in the crypto space, it’s fairly clear why Dorsey would ultimately choose to focus on Block full time – though, its market cap having surpassed Twitter’s certainly helps (Block is more than double the size of Twitter).
Even so, now that Dorsey's all in on Block, his ideals of turning the company into more than just a payments app can come into fruition.
Currently, Block is considering creating a Bitcoin mining system for public use along with its existing small-business seller services, consumer payment app, music streaming platform, and blockchain services.
And he could ultimately push for the company to blend its businesses together using blockchain technology, flashing a bullish sign for the broader crypto market.
This is a multi-trillion dollar opportunity you can get ahead of now by holding Bitcoin and/or Block (SQ) stock.
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