Twitter founder Jack Dorsey: “Diem was a waste of time, Meta should’ve focused on Bitcoin (BTC)”

Twitter founder Jack Dorsey said that Meta’s failed cryptocurrency project Diem was “wasted effort and time,” and it should have focused its efforts on “making Bitcoin more accessible for everyone.”

MicroStrategy CEO Michael Saylor interviewed Dorsey on Tuesday at his company’s “Bitcoin for Corporations 2022” conference about how corporations could integrate and use Bitcoin (BTC).

Dorsey said that although Facebook probably started Diem for “the right reasons,” it should’ve used an open-ended protocol like Bitcoin rather than attempting to create its own currency.

“This whole thing with Libra and then Diem, I think there’s a ton of lessons there,” Dorsey told Saylor. “Hopefully they learned a lot, but I think there was a lot of wasted effort and time.”

Continue reading