Jack Dorsey’s Bitcoin Vision: Why He Left Twitter for Crypto
Jack Dorsey’s shift from leading Twitter to focusing entirely on Bitcoin marks one of the most significant transformations in the tech world. This deep dive explores his motivations, key decisions, and impact on the crypto industry.
On this page
- Philosophical Foundation: Decentralization as a Core Principle
- Why Jack Dorsey Left Twitter: A Strategic Shift
- From Social Media to Financial Sovereignty
- The Future: Bitcoin as a Core Internet Infrastructure
- Decentralized Identity and the Impact of Web5
- Political Influence and Bitcoin Mining
- Jack Dorsey: Redefining Tech Leadership in the Crypto Age
By aligning his strategy with Bitcoin’s decentralization principles, Dorsey redefined his mission, channeling resources into blockchain infrastructure, mining technology, and tools that give users more financial control.
His journey represents a deliberate move away from centralized platforms toward cryptographic systems designed for a more open and digital economy.
A founder is not a job, it's a role, an attitude. And it's something that can happen again and again and again, and in fact it has to happen again and again and again, otherwise we would not move forward,
Jack Dorsey.
Philosophical Foundation: Decentralization as a Core Principle
Jack Dorsey’s support for Bitcoin stems from his long-standing criticism of centralized internet corporations.
As Twitter’s CEO, he led the development of Bluesky and Nostr, two protocols focused on decentralized social media. These projects were designed to give users full control over their data and enable direct interaction without corporate intermediaries.
Related: We Got the BlueSky Invite Code: Here’s What the App is Like
Jack Dorsey viewed centralized platforms as inefficient, prone to censorship, corporate control, and systemic failures.
His departure from Twitter in 2021 only strengthened this perspective.
He became increasingly vocal about how traditional social media was “broken” and did not align with his vision of an open internet.
For Dorsey, Bitcoin was the natural next step.
He often called it the “native currency of the internet,” highlighting its independence from governments and financial institutions.
Unlike fiat currencies, which are issued and controlled by central banks, Bitcoin’s decentralized structure and fixed supply perfectly aligned with Dorsey’s belief in systems that cannot be manipulated or controlled.
His commitment to Bitcoin’s principles led him to focus entirely on BTC, rejecting other cryptocurrencies as distractions from the core vision of decentralized finance.
You can worry about the competition…or you can focus on what's ahead of you and drive fast,
Jack Dorsey.
Discover why Jack Dorsey has influenced the internet more than Mark Zuckerberg and Elon Musk!
Why Jack Dorsey Left Twitter: A Strategic Shift
Jack Dorsey’s exit from Twitter in November 2021 followed mounting pressure from activist investors, particularly Elliott Management.
The firm pushed for his resignation, arguing that running both Twitter and Square (now Block) simultaneously was unsustainable. With Twitter’s growth slowing, the board of directors questioned his ability to effectively manage both companies, making it increasingly difficult for Dorsey to navigate the corporate landscape.
Related: Jack Dorsey’s Block Poised to Enter the S&P 500 Club
Jack Dorsey later revealed that he had planned his departure from Twitter long before Elon Musk’s acquisition, believing the board of directors resisted innovation.
In his farewell statement, he stressed the importance of passing leadership to new voices and focusing on what he called “the most important work.”
This was a clear reference to Bitcoin.
From Social Media to Financial Sovereignty
After leaving Twitter, Jack Dorsey fully committed to Bitcoin, making it the primary focus of Block. He announced that by 2024, the company would concentrate solely on Bitcoin-related initiatives.
To align with this vision, he divested non-core assets, including the Tidal music streaming service, and shut down TBD Web5, a project aimed at decentralizing the internet.
Instead, he shifted resources toward developing Bitcoin mining hardware and launching the Bitkey hardware wallet.
Discover more about Bitkey, its innovative seedless recovery system, and cutting-edge design!
Dorsey explained his strategic pivot as a commitment to building an open financial protocol, a stark contrast to Twitter’s dependence on advertising revenue.
His focus shifted entirely from social media to financial sovereignty, believing that Bitcoin holds the greatest potential to reshape global finance.
Our job as founders, as entrepreneurs is to distribute the future that’s already here,
Jack Dorsey.
The Future: Bitcoin as a Core Internet Infrastructure
Jack Dorsey views the Lightning Network as a crucial solution for micropayments and global transactions.
In 2023, his company Block launched “c=” (pronounced “c equals”), a Lightning Network router designed to improve liquidity, lower transaction fees, and accelerate payments.
Block is partnering with payment processors to establish Bitcoin as a serious alternative for international transfers.
If this strategy proves successful, it could disrupt traditional financial networks, including industry giants like SWIFT.
Decentralized Identity and the Impact of Web5
Although Block discontinued the Web5 project by TBD, its core ideas remain a key part of Dorsey’s vision.
He continues to push for the integration of decentralized identifiers (DID) with Bitcoin wallets, allowing users to control their digital identities without relying on intermediaries like Google or Facebook, which collect personal data under the guise of user consent.
These ideas have now been reframed under the “Web5 principles” and may be integrated into future Block products.
This approach seeks to connect financial sovereignty with digital identity management, ensuring users have full control over their online presence.
What is Web5? Learn now so you’re not left chasing after a departing train!
An idea that can change the course of the company can come from anywhere,
Jack Dorsey.
Political Influence and Bitcoin Mining
Jack Dorsey is actively involved in shaping Bitcoin-friendly policies, with a strong focus on mining regulations.
His increasing engagement with political leaders, including Donald Trump, who endorsed domestic Bitcoin mining after the 2024 elections, signals a shift toward positioning Bitcoin as critical infrastructure in the U.S.
Block’s lobbying efforts are centered on securing tax incentives and streamlining energy regulations.
These initiatives were designed to challenge Washington’s anti-crypto stance during the Biden administration, which was widely seen as restrictive and unfriendly to digital assets.
Related: The Most Influential Crypto Lobbyists
Jack Dorsey: Redefining Tech Leadership in the Crypto Age
Jack Dorsey’s shift to Bitcoin is more than a business decision—it’s a philosophical commitment to the future of the internet.
By aligning Block’s future with Bitcoin, he challenges traditional tech models, prioritizing decentralization over corporate control.
Yet, his path remains unpredictable.
Technical challenges, regulatory pressure, and market volatility present significant risks to Jack Dorsey’s vision.
The next few years will reveal whether Bitcoin can move beyond its niche and establish itself as the internet’s true native currency.
If Dorsey succeeds, he will be remembered as a trailblazer of a new financial era. If not, Bitcoin may remain a speculative asset rather than a transformative force. Of course, Satoshi Nakamoto’s vision should not be underestimated—he believed more in the power of the community than in individual leaders.
Regardless of the outcome, Dorsey has already reshaped the trajectory of both Block and the broader crypto industry.
The greatest lesson that I learned in all of this is that you have to start. Start now, start here, and start small. Keep it Simple,
Jack Dorsey.
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