Jack Dorsey Denies Bitcoin’s Classification as Cryptocurrency

According to him, Bitcoin is money.

Block CEO Jack Dorsey declared that Bitcoin is not a cryptocurrency. His post sparked lively reactions from the community.

bitcoin is not crypto

— jack (@jack) October 19, 2025

He noted that the word “crypto” is absent from the 2008 white paper of the digital gold. Satoshi Nakamoto described it as a “peer-to-peer version of electronic cash” and an “electronic payment system based on cryptographic proof.”

In one of his latest publications, the creator of Bitcoin also used the phrase “digital currency using cryptography and a distributed ledger to eliminate the need for a trusted central server.” Dorsey emphasized the term “currency.”

About an hour before the controversial message, he wrote:

“Bitcoin is money.”

Dorsey supported this tweet with the success of his company Block and its payment division Square in implementing free payments in the first cryptocurrency.

Community Reaction

At the time of writing, Dorsey’s post had been viewed by over 3.8 million users. The number of comments exceeded 4,500.

Many did not understand what the Block founder meant. Ripple’s CTO David Schwartz suggested that Dorsey believes Bitcoin should be seen as a payment system rather than a speculative asset.

Some community members agreed with this position, highlighting the asset’s uniqueness as a digital currency. Some even called Bitcoin “gold in the world of metals,” implying that the coin stands apart from the rest of the market.

“True. Bitcoin is money, and crypto is technology,” wrote a user who agreed with Dorsey’s opinion.

Stacks project founder Muneeb Ali took a more cautious stance. He stated that while Bitcoin indeed differs from other cryptocurrencies, the viability of its on-chain economy remains in question.

“Bitcoin is different from the rest of the crypto industry, but we need to improve the creation of a viable on-chain economy on its basis. Honestly, some crypto projects show more impressive results in attracting developers and using decentralized applications,” he wrote.

However, many users maintain that the market leader is still a cryptocurrency. One user accused Dorsey of excessive maximalism, which is misleading:

“Jack, what is the point of your tweet? ‘Crypto’ is short for ‘cryptocurrency,’ which literally means ‘cryptographic currency.’ The Bitcoin protocol uses cryptography to hash new blocks into the ledger. Your statement or the words of other Bitcoin maximalists create some kind of paradox.”

Back in February, deBanked’s editor-in-chief Sean Murray called Dorsey the creator of Bitcoin.