Jack Dorsey Explains Why He Prefers Bitcoin Over Ethereum

Former CEO of Twitter Inc TWTR and Bitcoin BTC/USD advocate Jack Dorsey shed some light on why he feels strongly about the leading digital asset.

What Happened: Speaking to MicroStrategy Incorporated MSTR CEO Michael Saylor at the Bitcoin for Corporations conference on Tuesday, Dorsey said Bitcoin “gets a lot of knocks” in technology mainstream media as opposed to Ethereum ETH/USD.

Dorsey noted that in terms of speed of development, Ethereum moves “very, very fast” in comparison to Bitcoin.

“But it’s a question of what is the ultimate outcome of those moves. Bitcoin is very deliberate about what goes in and what stays out … It’s slower, but slower things tend to last and they tend to be a whole lot more predictable in terms of the direction they’re going,” he said.

“They tend to be a lot more secure. They tend to have far better uptime and usability than anything else.”

What Else: Dorsey’s efforts to contribute to the continued development of Bitcoin have been increasingly evident over the last few months.

His payments company Square has rebranded to Block Inc SQ and just last month announced plans to develop a new Bitcoin mining microchip.

He also went on record to state that Meta Platforms Inc FB would have been better served if it focused its efforts on Bitcoin instead of trying to develop its own cryptocurrency Diem.

BTC Price Action: At press time, Bitcoin was trading at $38,277, up 4.6% in the last 24 hours.