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

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.

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