Bitcoin (BTC) Proponent Jack Dorsey Wanted Out of His Twitter Chief Post

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Sat, 02/29/2020 - 13:03
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Yuri Molchan
The prominent BTC supporter Jack Dorsey does not seem to satisfy a major Twitter share holder as CEO, here’s why
Bitcoin (BTC) Proponent Jack Dorsey Wanted Out of His Twitter Chief Post
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Reuters reports that Hedge Elliott Management Corp, the owner of a significant stake in Twitter, may want to replace Jack Dorsey, believing his no good as the Twitter chief.

Jack Dorsey wanted out of steering 

Elliott Management has appointed four of its reps to be on Twitter’s board.

Reuters writes that the problem with Dorsey for Elliott is that he splits his efforts between working for the good of Twitter and his new payment processor Square Inc, which has a subdivision dealing with cryptocurrencies – Square Crypto.

Dorsey is known to be a crypto educator and supporter of the flagship crypto - BTC. Not long ago, Twitter launched a Bitcoin emoji which was gladly accepted by crypto fans on the platform.

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Is Dorsey a good CEO for Twitter?

There has been no official confirmation of that either from Jack Dorsey or Elliott yet.

Since the return of Dorsey to the leading position in Twitter in 2015, the company’s shares have dropped slightly over six percent. However, its rival Facebook, which still intends to launch its crypto coin Libra, made its stock rise over 120 percent.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.