Jack Dorsey, the founder of Twitter and a staunch advocate for Bitcoin, has sparked renewed discussions within the crypto community with his recent remarks about the true nature of BTC.
On Sunday, Dorsey took to X to share a succinct message stating “Bitcoin is not crypto,” which ignited a substantial reaction with over 4,000 comments.
While some pointed out that the anonymous creator of BTC, Satoshi Nakamoto, referred to Bitcoin as a “peer-to-peer cryptocurrency” on the Bitcointalk forum in 2010, Dorsey emphasized the term “currency,” highlighting its monetary origins.
An early adopter of Bitcoin, Dorsey has long been rumored to have contributed to its inception. Earlier this year, Seán Murray of deBanked shared a compilation of circumstantial evidence suggesting this, although it remains unconfirmed.
Dorsey denied being Nakamoto during a 2020 interview with Lex Fridman, stating: “No, and if I were, would I admit it?”
“Crypto” never mentioned in Bitcoin’s white paper
Reflecting on Bitcoin’s origins, Dorsey noted that the Bitcoin white paper — the foundational document introducing BTC in 2008 — makes no mention of “crypto,” supporting his argument that BTC is distinct from the broader industry.
Instead, the white paper defines Bitcoin as a “purely peer-to-peer version of electronic cash” and an “electronic payment system based on cryptographic proof instead of trust.”
In a Bitcointalk post from July 2010, Satoshi Nakamoto also described Bitcoin as a “digital currency utilizing cryptography and a distributed network to eliminate the need for a trusted central server.”
What is Bitcoin then?
While distinguishing Bitcoin from “crypto,” Dorsey provided his perspective in a prior post just an hour before the “not crypto” tweet, stating simply: “Bitcoin is money.”
Dorsey defended Bitcoin’s classification as “money” by highlighting advancements in zero-fee BTC payments through his financial services firm Block and its payment processing division Square.
The Bitcoin proponent specifically referenced a post by user Jamie Selects, who claimed to have “sold every Square Seller on bitcoin payments” at a local market, due to excitement over Square’s “zero processing fees in 2026.”
Dorsey has been a long-time promoter of Bitcoin as a payment solution, urging social media platforms like Signal Messenger to adopt BTC payments in April.
Related: Jack Dorsey advocates for tax-exempt status for ‘everyday’ Bitcoin payments
Bitcoin’s identity as “money” aligns with Dorsey’s belief that Bitcoin must not only function as a store of value but also must retain its utility as a payment method to remain significant.
Community pushback
Not everyone concurs with Dorsey’s viewpoint, as critics point to Bitcoin’s limited scalability, which can result in slower processing times and higher fees.
Many have also opposed his assertion that “Bitcoin is not crypto,” highlighting the schism between Bitcoin maximalists and proponents of the larger crypto ecosystem, including altcoins.
David Schwartz, a notable figure in the industry who is set to step down from his position as CTO at Ripple by the year’s end, has contributed to the discussion by expressing confusion over Dorsey’s tweet.
“I’m not quite sure what Jack meant here. I think he’s trying to imply that bitcoin should be viewed as a payment system rather than a speculative asset. But I’m uncertain,” Schwartz wrote.
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