Crypto News: Jack Dorsey Breaks Silence on Market Crash — His Bitcoin Warning Will Surprise You!

Jack Dorsey, the technology figure behind Twitter and Block Inc., has sparked a fierce debate within the cryptocurrency sphere regarding Bitcoin’s future path. Appearing on the Presidio Bitcoin podcast, Dorsey warned BTC might lose relevance if people view it only as a store of value or “digital gold.” He argues that daily BTC payments must become common if the currency aims to remain relevant, aligning with its initial concept as a decentralized currency.

Dorsey offered his views in a critical period for this cryptocurrency, which saw its price fall below $80,000 amid a broader crypto market downturn on Bloody Monday. Despite such price swings, institutional interest is increasing significantly, with records showing 76 new organizations holding over 1,000 BTC recently joining the network. Still, Dorsey emphasizes that Bitcoin’s long-term success depends on moving beyond its status as a speculative asset and demonstrating its utility in actual transactions.

Reimagining Bitcoin’s Purpose

Dorsey Bitcoin criticism focuses on a key question about Bitcoin’s intended function. He opposes the common perception of it as only an inflation hedge or a digital gold counterpart. “If it doesn’t transition to payments and find that everyday use case, it just gets increasingly irrelevant,” he stated. For Dorsey, failure isn’t a BTC price collapse; it’s Bitcoin becoming a holding people purchase and then ignore rather than utilize.

This viewpoint is in contrast with Bitcoin’s recent performance, where its value often reflected stock markets, making it a risk-on asset. Dorsey thinks depending solely on this store-of-value reputation limits Bitcoin’s possibilities. He believes its future is connected to its ability to enable smooth, routine transactions, an objective he argues has been ignored due to the focus on investment.

Back to the Roots: Satoshi’s Vision

Dorsey encouraged the Bitcoin community to remember the cryptocurrency’s foundational ideas from Satoshi Nakamoto’s 2008 whitepaper. “[We need to]  get back to the white paper, which is a system for electronic peer-to-peer digital cash,” he said. He argues BTC has moved away from this original vision, as development efforts have favored security and value retention over easy access and transaction utility.

Dorsey remains optimistic about addressing Bitcoin’s challenges, including price instability and scalability. He suggests that broad Bitcoin adoption as a payment method could eventually stabilize the BTC price. Developers can make the digital currency more suitable for daily BTC payments by focusing on speed, privacy, and security, he asserted. This call to action urges the developers to realign the ecosystem with its foundational promise of decentralization and user empowerment.

Institutional Growth Amid Market Turbulence

While Dorsey supports a payment-focused Bitcoin, this digital currency is gaining acceptance among institutions. Analyst Ali Martinez observed that 76 new entities holding over 1,000 BTC appeared in the last two months, marking a 4.6% increase in major holders. This growth happened alongside strong interest in Bitcoin ETF, despite recent price volatility seen in chart 1 and a 260% surge in trading volume.

Chart 1 – BTC/USD Live Price, published on TradingView, April 7, 2025.

This institutional Bitcoin adoption underscores BTC investment appeal but also highlights Dorsey’s concern that its utility remains underdeveloped. While companies and investment funds are actively acquiring it, normal users still face difficulty using everyday BTC payments. Dorsey’s warning suggests that unless this gap is closed, Bitcoin’s significance could be reduced even as its market share expands.

The Road Ahead for Bitcoin

Dorsey Bitcoin comments suggest Bitcoin’s development is at a critical point. He imagines a future where BTC goes beyond a speculative asset to become a functional currency for daily life. Achieving this change requires innovation and a shift in community perspective, balancing BTC investment appeal with practical application. Dorsey warns that failing to adapt could make BTC irrelevant in the near future.

As Bitcoin experiences market fluctuations and growing institutional adoption, Dorsey’s view is a clear reminder of the cryptocurrency’s unrealized potential. Whether the Bitcoin ecosystem acts on his advice could decide if BTC remains a transformative force or fades away.