Twitter founder does not consider bitcoin a cryptocurrency

Block CEO Jack Dorsey said that bitcoin BTC $108,143.00 Mezo Wrapped BTC -0.21% Market capitalization $36.67 million VOL. 24 hours $3.76 billion is not a cryptocurrency, citing the fact that in a 2008 white paper, author Сатоші Накамото" href="https://noworries.news/biography/satoshi-nakamoto/" data-bio-id="4232">Satoshi Nakamoto did not use the word «crypto». The document describes bitcoin as «a peer-to-peer version of electronic money» and «a payment system based on cryptographic proof» without mentioning the term «cryptocurrency.» This statement sparked an active discussion in the crypto community.

About an hour before, Dorsey published another short post: «Bitcoin is money». He explained that he views BTC primarily as a currency, not as a technology or speculative asset. The entrepreneur cited the example of Block and payment service Square, which are testing free bitcoin transfers via the Lightning Network.

The post received over 3.8 million views and more than 4,500 comments. Some users supported Dorsey, agreeing that bitcoin has a special status as digital money. One commenter wrote: «Bitcoin is money and crypto is technology.» Others compared BTC to «gold among metals,» emphasizing its uniqueness among digital assets.

However, not everyone agreed with Dorsey’s position. Ripple CTO David Schwartz suggested that the Block founder sees bitcoin as a payment system rather than an investment instrument. Stacks founder Muneeb Ali noted that bitcoin does stand out among other crypto assets, but needs to develop a full-fledged on-chain economy.

Critics have accused Dorsey of «bitcoin maximalism,» reminding that the BTC protocol is based on cryptographic mechanisms and thus belongs to cryptocurrencies. One user wrote: «Your statement only confuses people — bitcoin is based on cryptography, so it is by definition a cryptocurrency.»