Before this time, analysts have predicted that most of the growth of the cryptocurrency space will solely lie in the hands of the influencers and preachers of the market. Their predictions have not gone wrong, with many prominent investors like Elon Musk, Micheal Saylor, and Jack Dorsey having influenced the Bitcoin market in several ways in the last 12months. The latest news surrounding the cryptocurrency is that of the CEO of Twitter and Payment firm- Square, Jack Dorsey, who has now informed his followers on Twitter that he has now set up his own Bitcoin Node.
Jack Dorsey says the new node will run on M1
The growing institutional adoption of Bitcoin has been prominent in the growth of the cryptocurrency in the last 12months. However, one cannot deny that the influence of well-known investors like Jack has not played its part too. The new node the entrepreneur is setting up with will allow him to synchronize all his cryptocurrency transactions into a system.
Jack has also highlighted that the new Bitcoin Node will grant him privileges of verifying and activating several Bitcoin-related transactions in the future. Most of his followers and fans have quizzed him about the new update, Jack on his part, he has promised to update them on how the progress report of the new node.
The situation surrounding Bitcoin nodes has been viewed by several analysts as not been a financially rewarding one like other systems like mining. Still, the node system is pegged to provide more long term rewards to the Blockchain system. The new system has drawn the attention of popular Bitcoin Node provider, umbrel, who has questioned the tech guru on whether he would consider running the Raspberry Pi node. In his response, Jack has told them that the M1 he currently utilizes is quite sufficient at the moment.
Jack Dorsey and Co continue to lead the Bitcoin Mantra
Jack has joined a list of famous admirers of the Bitcoin network, as he regularly updates his stance on his social media page. In an earlier interview, Jack had told reporters that Bitcoin is the way of the future, as he expects the cryptocurrency to continue to be at the forefront of investments all around the world. During the Nigerian EndSars protest, a protest against bad government and bad government policies by the youths of the African Nation against its leader, Jack had donated towards it via Bitcoin and encouraged his followers to do so.
The Square CEO is not the only person influencing Bitcoin, as Micheal Saylor of Microstrategy and Elon Musk have also had their say on the cryptocurrency, driving more investors towards it. However, Jack Dorsey still feels like Bitcoin has a long way to go, sitting issues around adoption and a few other factors that he feels may not allow the cryptocurrency to flourish beyond the current levels as of today.