Jack Dorsey announces that his company Block will support stablecoins "despite" years of insisting that Bitcoin should be the native currency of the internet ‼️

Bitcoin enthusiasts are publicly surrendering to the reality of the market in real time…

Technically, he is correct that Bitcoin should be the protocol of the native currency because of its engineering properties—decentralization, fast settlement, security, and long-term value preservation.

And the market is also right that stablecoins are what people are actually using for payments now. True, they are susceptible to confiscation and bans, are inflationary over the long term, and carry US dollar risks, but their purchasing power remains stable in the short term, unlike Bitcoin’s extreme volatility.

Let’s not forget that the regulatory environment in America has become friendly toward all cryptocurrencies, regardless of their centralization, and anyone can carry a wallet on their phone and receive payments as cash without the hassle of registering for banking services.

Stablecoins could actually be very useful in adopting Bitcoin, as they are like a Trojan horse available everywhere in the world, and many of their wallets also support Bitcoin. So why not consider them as a gateway into the world of Bitcoin?

In recent years, many people have hesitated to hold USDT, just one step away from holding Bitcoin.

Jack Dorsey now sees that the infrastructure moving dollars in the modern world is fundamentally closely linked to Bitcoin!

$BTC

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