Well-known cryptocurrency analyst Willy Woo commented on Bitcoin (BTC) and the state of the cryptocurrency market on Twitter on September 18, and suggested that Twitter CEO and co-founder Jack Dorsey may be readying himself for a big investment in Bitcoin.
- Woo commented on Microstrategy CEO Michael Saylor’s interview on the Pomp Podcast, and the growing potency of Bitcoin as a store of value
- Like Microstrategy, Woo sees other companies transferring some of its cash reserves into Bitcoin
- He then points to Jack Dorsey and the fact that he is overseeing a cash reserve of $10 billion - hinting that it could be possible that Dorsey orchestrates a move similar to that of MicroStrategy
- Dorsey is known for being a Bitcoin and cryptocurrency enthusiast, calling Bitcoin the “internet’s native currency”
- Square, which Dorsey also runs, sells Bitcoin via its Cash App, and the business profits have surged in profits in the past 12 months