Jack Dorsey Sets His Sights on Bitcoin Mining After Resigning as CEO of Twitter

Twitter CEO Jack Dorsey addresses students during a town hall at the Indian Institute of Technology (IIT) in New Delhi, India, November 12, 2018. REUTERS/Anushree Fadnavis

Decades before Jack Dorsey became a titan of the technology industry with not one but two CEO titles to his name and an eye-popping $12billion net worth, he was a young man from St Louis who dabbled in modeling and aspired to become a fashion designer, or a massage therapist.

Now that Dorsey, 45, resigned as Twitter’s chief executive officer, the bearded billionaire with a penchant for nose rings, tie-dye shirts, long walks and hard-core fasting will have plenty of time to pursue his new passion: bitcoin-mining.

Dorsey still remains the CEO of Square Inc, the hugely successful financial payments company that he co-founded in 2010.

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In recent years, Dorsey has been using his considerable public platform to proselytize about the merits of cryptocurrency, particularly bitcoin.

In July, he announced that Square was launching a new bitcoin-based venture ‘with the sole goal of making it easy to create non-custodial, permission-less and decentralized financial services,’ he tweeted at the time to his 5.9million followers.

Square revealed back in February that bitcoin makes up 5 per cent of its holdings.

Headquartered in San Francisco, Square has three business lines: Cash App, Square Seller products and the music-streaming service Tidal, which it acquired from Dorsey’s friend, Jay-Z, in April for $300million.

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SOURCE: Daily Mail, Snejana Farberov

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