Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 13285
Markets: 101697
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
America's Social Casino

Market Cap
24h Vol
13285
Cryptocurrencies
61.47%
Bitcoin Share
The Coin Rise 2025-05-11 18:18:13

Jack Dorsey’s Bitcoin Bet Could Pay Off Amid U.S. Economy Slowdown

Jack Dorsey’s Bitcoin Bet Could Pay Off Amid U.S. Economy Slowdown

Jack Dorsey, the founder of Cash App, is known for his strong belief in technology and Bitcoin (BTC). Years ago, his company made it easy for people to buy digital currency. With signs that the U.S. economy is slowing down, Dorsey’s early move into Bitcoin may become even more beneficial. Jack Dorsey Made Bitcoin Adoption Easy for Everyone In 2019, Dorsey’s company, Square, now called Block, started letting users buy and hold Bitcoin through its Cash App. It was one of the first big companies to offer this service. Users could use their debit or credit cards to buy BTC, making it easy and accessible to the crypto world. This was long before big companies like Michael Saylor’s firm, Strategy, made headlines for buying large amounts of Bitcoin. Block’s Stock Drops After Weak Earnings Block’s stock price fell by 20% at the beginning of May after the company released its first quarter earnings report. The report showed that fewer people were spending money on travel and entertainment, and instead, they spent more on basic needs like food and gas. Dorsey explained that this change in spending hurt the company’s income and was a key reason it could not meet its financial target. Block’s weaker performance in the first quarter matched a bigger trend in the U.S. economy. In the first quarter of the year, the economy shrank for the first time in three years. If this happens again in the next quarter, it could mean the country is entering a recession. Recession Could Be the Spark Bitcoin Needs If a recession does happen, the Federal Reserve may be forced to cut interest rates to help the economy. A new CNBC survey shows that many experts believe these cuts will happen soon. Meanwhile, low interest rates have helped Bitcoin prices rise in the past . After the 2008 financial crisis, when the Fed cut rates heavily, Bitcoin was introduced. During the following years, the digital currency rose from less than a penny to nearly $20,000 by the end of 2017. Bitcoin’s price is already worth over $100,000, even though the Fed has not yet lowered rates this year. If the government cuts rates, the price of Bitcoin could increase much more. Like Cathie Wood of Ark Invest, Jack Dorsey has also predicted that Bitcoin could reach $1 million . While that once seemed unrealistic, the current economic slowdown and the possibility of interest rate cuts have made some people believe it might come true. Even though Block is facing some financial setbacks, Dorsey’s early support for Bitcoin might prove to be a smart move. If Bitcoin’s value continues to rise during an economic slowdown, it could benefit the company. The post Jack Dorsey’s Bitcoin Bet Could Pay Off Amid U.S. Economy Slowdown appeared first on TheCoinrise.com .

Most Read News

Moralis Money
Market Cap
24h Vol
61.47%
Bitcoin Share
593
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.