{"id":90071,"date":"2025-10-20T18:05:00","date_gmt":"2025-10-20T15:05:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=90071"},"modified":"2025-10-20T18:05:21","modified_gmt":"2025-10-20T15:05:21","slug":"jack-dorsey-denies-bitcoins-classification-as-cryptocurrency","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/jack-dorsey-denies-bitcoins-classification-as-cryptocurrency\/","title":{"rendered":"Jack Dorsey Denies Bitcoin&#8217;s Classification as Cryptocurrency"},"content":{"rendered":"<p>Block CEO Jack Dorsey declared that Bitcoin is not a cryptocurrency. His post sparked lively reactions from the community.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">bitcoin is not crypto<\/p>\n<p>\u2014 jack (@jack) <a href=\"https:\/\/twitter.com\/jack\/status\/1979880332175495586?ref_src=twsrc%5Etfw\">October 19, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He noted that the word &#8220;crypto&#8221; is absent from the 2008 white paper of the digital gold. <a href=\"https:\/\/forklog.com\/en\/news\/who-is-satoshi-nakamoto\">Satoshi Nakamoto<\/a> described it as a &#8220;peer-to-peer version of electronic cash&#8221; and an &#8220;electronic payment system based on cryptographic proof.&#8221;<\/p>\n<p>In one of his latest publications, the creator of Bitcoin also used the phrase &#8220;digital currency using cryptography and a distributed ledger to eliminate the need for a trusted central server.&#8221; Dorsey <a href=\"https:\/\/x.com\/jack\/status\/1980043761444085968\">emphasized<\/a> the term &#8220;currency.&#8221;<\/p>\n<p>About an hour before the controversial message, he <a href=\"https:\/\/x.com\/jack\/status\/1979864917869318421\">wrote<\/a>:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Bitcoin is money.&#8221;<\/em><\/p>\n<\/blockquote>\n<p>Dorsey supported this tweet with the success of his company Block and its payment division Square in <a href=\"https:\/\/forklog.com\/en\/news\/square-tests-bitcoin-lightning-payments-via-pos-terminals\">implementing<\/a> free payments in the first cryptocurrency.<\/p>\n<h2 class=\"wp-block-heading\">Community Reaction<\/h2>\n<p>At the time of writing, Dorsey&#8217;s post had been viewed by over 3.8 million users. The number of comments exceeded 4,500.<\/p>\n<p>Many did not understand what the Block founder meant. Ripple&#8217;s CTO <a href=\"https:\/\/forklog.com\/en\/news\/what-are-ripple-and-the-cryptocurrency-xrp\">David Schwartz<\/a> <a href=\"https:\/\/x.com\/JoelKatz\/status\/1980165151811830108\">suggested<\/a> that Dorsey believes Bitcoin should be seen as a payment system rather than a speculative asset.<\/p>\n<p>Some community members agreed with this position, highlighting the asset&#8217;s uniqueness as a digital currency. Some even <a href=\"https:\/\/x.com\/BTCTeeshirts\/status\/1979971703959965936\">called<\/a> Bitcoin &#8220;gold in the world of metals,&#8221; implying that the coin stands apart from the rest of the market.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;True. Bitcoin is money, and crypto is technology,&#8221;<\/em> <a href=\"https:\/\/x.com\/SuhailKakar\/status\/1979979680967958595\"><em>wrote<\/em><\/a><em> a user who agreed with Dorsey&#8217;s opinion.<\/em><\/p>\n<\/blockquote>\n<p>Stacks project founder Muneeb Ali <a href=\"https:\/\/x.com\/muneeb\/status\/1979961315213947270\">took<\/a> a more cautious stance. He stated that while Bitcoin indeed differs from other cryptocurrencies, the viability of its on-chain economy remains in question.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;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 <\/em><a href=\"https:\/\/forklog.com\/en\/news\/ethereum-surpasses-solana-and-bitcoin-in-attracting-new-developers\"><em>attracting developers<\/em><\/a><em> and using decentralized applications,&#8221; he wrote.<\/em><\/p>\n<\/blockquote>\n<p>However, many users maintain that the market leader is still a cryptocurrency. One user <a href=\"https:\/\/x.com\/DiepSanh\/status\/1979891194059743517\">accused<\/a> Dorsey of excessive maximalism, which is misleading:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Jack, what is the point of your tweet? &#8216;Crypto&#8217; is short for &#8216;cryptocurrency,&#8217; which literally means &#8216;cryptographic currency.&#8217; 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.&#8221;<\/em><\/p>\n<\/blockquote>\n<p>Back in February, deBanked&#8217;s editor-in-chief Sean Murray <a href=\"https:\/\/forklog.com\/en\/news\/jack-dorsey-alleged-to-be-bitcoins-creator-satoshi-nakamoto\">called<\/a> Dorsey the creator of Bitcoin.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Block CEO Jack Dorsey declared that Bitcoin is not a cryptocurrency. His post sparked lively reactions from the community.<\/p>\n","protected":false},"author":1,"featured_media":90072,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"According to him, Bitcoin is money.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1269,1330,1138],"class_list":["post-90071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-cryptocurrencies","tag-jack-dorsey","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"286","promo_type":"1","layout_type":"1","short_excerpt":"According to him, Bitcoin is money.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=90071"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90071\/revisions"}],"predecessor-version":[{"id":90073,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90071\/revisions\/90073"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/90072"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=90071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=90071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=90071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}