Bitcoin has long been hailed as digital gold—a decentralized store of value immune to inflation and government control. But according to billionaire entrepreneur and Block CEO Jack Dorsey, Bitcoin risks fading into obscurity if it fails to evolve beyond just being a passive investment.
In a recent interview on the Presidio Bitcoin YouTube channel, Dorsey issued a stark warning: Bitcoin must become a practical tool for everyday payments—or risk becoming irrelevant.
The Danger of Being "Just a Store of Value"
Dorsey imagines a future where Bitcoin still exists but no longer matters in daily life. Not because it collapsed, but because it failed to integrate into real-world use.
“I think it fails through irrelevance. It fails to be relevant to people on a daily basis. If it just ends up being a store of value and nothing more, I don’t think it gains relevance at all.”
This sentiment cuts to the core of Bitcoin’s ongoing identity crisis. While many investors treat BTC like an asset class—buying and holding for long-term appreciation—Dorsey argues that such behavior limits its transformative potential.
When people only buy Bitcoin to “HODL” or cash out during emergencies, it becomes little more than a speculative instrument. It doesn’t circulate. It doesn’t empower transactions. And without circulation, Dorsey believes, Bitcoin loses its ability to challenge traditional financial systems.
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Why Payments Are Essential to Bitcoin's Survival
For Dorsey, the path forward is clear: Bitcoin must compete with Visa and Mastercard in speed, accessibility, and user experience.
He emphasizes that Bitcoin shouldn’t just be an alternative asset—it should be an alternative currency. And currencies live through usage.
“I think it has to be payments for it to be relevant on the everyday. Otherwise, it’s just something you kind of buy and forget…”
To achieve this, Dorsey calls for innovation focused on building simple, accessible applications that make sending and receiving Bitcoin fast and frictionless.
The goal? Create a global payment network that operates independently of central banks and traditional financial gatekeepers—offering users a true third option alongside the US dollar and Chinese yuan.
This vision aligns with Dorsey’s long-standing belief in financial sovereignty. By enabling peer-to-peer transactions at scale, Bitcoin can reduce reliance on legacy systems that often exclude the unbanked or impose high fees.
But scaling Bitcoin for mass adoption isn’t just about speed—it’s also about privacy, security, and ease of use. Projects working on layer-2 solutions like the Lightning Network are critical to this mission, allowing instant microtransactions with minimal fees.
Building the Infrastructure for Everyday Use
So what does “everyday use” actually look like?
Imagine buying coffee with Bitcoin as easily as swiping a card. Paying international freelancers in seconds without wire fees. Sending remittances across borders without losing 5–10% to middlemen.
These scenarios are possible today—but they’re still far from mainstream.
Dorsey points out that there are already “tons of projects” working to bridge this gap. From wallet innovations to point-of-sale integrations, developers are steadily improving the user experience.
But widespread adoption requires more than technology—it demands cultural and behavioral shifts. People need to see Bitcoin not as a volatile asset to speculate on, but as a functional medium of exchange.
That means education, intuitive interfaces, merchant adoption, and robust infrastructure—all elements currently being built, but not yet seamless enough for the average user.
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A Third Option for Global Currency
One of Dorsey’s most compelling arguments is geopolitical: having a decentralized, borderless currency keeps powerful institutions in check.
“Having a third option for currency is important and it keeps the other currencies in check and governments in check as well.”
In a world dominated by the US dollar and increasingly challenged by the digital yuan, Bitcoin represents a neutral alternative—one not controlled by any single nation or corporation.
This isn’t just about financial freedom; it’s about balance. A truly global economy needs alternatives that can operate outside political influence, especially in times of economic instability or censorship.
And while stablecoins pegged to fiat currencies have gained traction, they often rely on centralized reserves and regulatory compliance. Bitcoin, when used as money, offers something different: censorship resistance, transparency, and scarcity by design.
FAQ: Addressing Key Questions About Bitcoin’s Future
Q: Can Bitcoin really compete with Visa and Mastercard in speed?
Yes—especially with layer-2 technologies like the Lightning Network. While Bitcoin’s base layer processes around 7 transactions per second, Lightning enables millions per second with near-instant settlement and negligible fees.
Q: Isn’t Bitcoin too volatile to be used as everyday money?
Volatility is a challenge, but not insurmountable. As adoption grows and liquidity increases, price swings tend to moderate. Additionally, payment processors can instantly convert BTC to local currency at point of sale, shielding merchants from volatility.
Q: Doesn’t using Bitcoin for payments go against its role as ‘digital gold’?
Not necessarily. Bitcoin can serve both roles—store of value and medium of exchange. Gold has historically been used for trade and saving; Bitcoin can follow a similar dual-purpose path.
Q: What role do companies like Block (formerly Square) play in this vision?
Block, co-founded by Dorsey, is actively building financial tools that integrate Bitcoin into everyday commerce—from Cash App’s BTC buying features to investments in Bitcoin mining and open-source development like the Lightning Network.
Q: Is Dorsey’s view widely shared in the crypto community?
While some prioritize BTC as a reserve asset (e.g., “Bitcoin maximalists”), others agree with Dorsey that utility is key to long-term survival. The debate reflects a broader tension between preservation and innovation within the ecosystem.
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Final Thoughts: Relevance Through Utility
Jack Dorsey’s warning isn’t about technical failure—it’s about cultural irrelevance. A Bitcoin that no one uses beyond speculation may survive, but it won’t transform.
The future he envisions is one where Bitcoin powers real transactions, empowers individuals, and operates as a true global currency—not just another asset on a balance sheet.
For that dream to become reality, the focus must shift from price charts to practicality. From hodling to spending. From theory to daily use.
The tools are being built. The infrastructure is evolving. Now it’s time for users, developers, and merchants to embrace Bitcoin not just as an investment—but as money.
Core Keywords:
Bitcoin, Jack Dorsey, payments, store of value, everyday use, cryptocurrency adoption, Lightning Network, decentralized currency