Twitter founder says he buys Bitcoin every week

Twitter founder says he buys Bitcoin every week

After stepping down as CEO of Twitter in 2021, Jack Dorsey devoted his time to his new company, Block. When asked if he still invests in Bitcoin after a rough year, Dorsey revealed that he still contributes to the cryptocurrency on a weekly basis.

One such investment strategy is called DCA, which stands for average dollar cost, and has become quite popular among investors who don’t want to waste time analyzing charts or following the news. In other words, the investor buys Bitcoin periodically while thinking about the long term.

One of the most famous examples of this method is that of the British known by the nickname Bitster Money Mustache. Via his blog, the investor tells about his journey that started in 2017.

“The monthly budget of 500 euros (R$2,760) gave me a total of ~4.28 BTC today”Mustache noted this week. “I vividly remember recently getting a full 4 coins, and now it’s getting closer to 4.5 coins. Slowly but surely this is the way to get your stack [de bitcoins].”

Investments and profits of investors who want to retire by making monthly purchases in Bitcoin. Source: Playback.

While Jack Dorsey has not revealed how much he invests in Bitcoin each week, his strategy is the same as the investor above. That is, a good technique for escaping market volatility, even for billionaires like Twitter’s founder.

Twitter founder Jack Dorsey says he buys Bitcoin every week

Although he founded Twitter, Jack Dorsey has been using another social network more frequently in recent days, Nostr, a decentralized solution that seems to make it easier for Dorsey to talk about his investments.

— I wonder if @jack is doing DCA on bitcoin like the rest of us?

– Yes. Every week is the same.

Jack Dorsey, founder of Twitter, states that he makes Bitcoin deposits on a weekly basis. Source: Nostr.

In addition to his personal investments, Jack Dorsey’s new company is also betting heavily on Bitcoin. This week, Block revealed that it will use some of its 8,000 bitcoins to accelerate adoption of the Lightning Network.

Build, a subsidiary of Block, unveiled a new interface for its cryptocurrency wallet last Wednesday (1st). As seen in the images below, the wallet will focus on Bitcoin purchases.

“We designed our partner onboarding with a customer-centric approach to make the use case of buying and selling transparent and simple.”

block bitcoin wallet
New wallet design by Jack Dorsey’s company Build. Source: Playback.

Therefore, Jack Dorsey understands investor demand for more intuitive services, something that may be related to his own experience in his weekly contributions.

Source: Live Coins