Cardi B asks if Bitcoin will replace dollar, Jack Dorsey affirms

Former Twitter CEO Jack Dorsey has asserted that crypto is going to replace the dollar. Dorsey was responding to a tweet by popular rapper Cardi B.

"Do you think crypto is going to replace the dollar?" tweeted Cardi B. The former Twitter boss in his response said, "Yes, Bitcoin will."

The Twitter exchange comes at a time when the dollar took a dip due to fears surrounding the global surge of the Omicron variant cases.



The short interaction went viral with millions reacting to it. Prices of bitcoins that were on a high for over a year witnessed a decrease in the last few weeks. Bitcoins reportedly lost over 30% of their value in over a month. The decrease in price has also affected the price of Ethereum which is down by nearly 20%. Since Bitcoin is the most prominent currency its price fluctuation affects other currencies also known as altcoins.

Incidentally, the price of Bitcoin surged shortly after the exchange between Dorsey and Cardi B. It also reversed the downward trend that has been witnessed in the Bitcoin price since the last few days.

It was reported that Bitcoin rose back by over $48,000 on Tuesday after a 5 per cent overnight price surge. This has also boosted the price of Ethereum and the wider crypto market.

This is not the first time Dorsey tweeted about Bitcoin. In August this year, he tweeted saying that Bitcoin will unite a deeply divided country and eventually, the world.
Earlier this month, Dorsey stepped down as Twitter CEO. He is currently the CEO of Square, a payments company.