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Former\u00a0Twitter Inc.<\/strong>\u00a0(NASDAQ:TWTR<\/a>) CEO Jack Dorsey<\/strong> said\u00a0he believes\u00a0Bitcoin<\/strong>\u00a0(CRYPTO: BTC<\/a>) will replace the United States dollar and explained why he does not support\u00a0Ethereum<\/strong>\u00a0(CRYPTO: ETH<\/a>) or other cryptocurrencies.<\/p>\n What Happened:<\/strong>\u00a0Dorsey shared his views on the crypto space in a series of tweets sent this week. When rapper Cardi B asked him if crypto will replace the dollar, he\u00a0said<\/a>\u00a0that “Bitcoin will.”<\/p>\n This statement should not come as a surprise given that he has rarely been shy of expressing his stances on how Bitcoin should be held in\u00a0higher regard than other cryptocurrencies \u2014 which resulted in him being often described as a Bitcoin maximalist.<\/p>\n Dorsey recently even said that if he was not working at Block Inc.<\/strong> (NYSE:SQ<\/a>) \u2014 the bitcoin-friendly financial services firm previously known as Square \u2014 or Twitter (where he recently resigned), he “would be working on Bitcoin.” He\u00a0added<\/a>:<\/p>\n “If it needed more help than Square and Twitter, I\u2019d leave them for Bitcoin.\u201d<\/p>\n On Tuesday Dorsey said he prefers Bitcoin to Ethereum because it is “critical we focus our energy on truly secure and resilient technologies owned by the mass of people, not individuals or institutions. Only that foundation will provide for the applications you allude to.”<\/p>\n This was an answer to Andreessen Horowitz partner Chris Dixon<\/strong>\u00a0suggesting<\/a>\u00a0that he should work with Ethereum and other blockchains.<\/p>\n Dorsey is a believer in Bitcoin with its uncompromising approach to cybersecurity and decentralization and fair start with no pre-mine or discounted sales to venture capitalists. Ethereum with its initial coin offering and relatively centralized decision-making process is not good for Dorsey, who wants instead Bitcoin to realize its full democratization potential.<\/p>\n<\/p><\/div>\n