Jack Dorsey Reignites Debate Over Bitcoin’s Identity: “Bitcoin Is Not Crypto”

Jack Dorsey, Twitter’s co-founder and a long-time Bitcoin supporter, has once again sparked debate in the digital finance world. His recent post claiming “Bitcoin is not crypto” has reignited discussion over Bitcoin’s identity—whether it belongs to the broader crypto industry or stands apart entirely.

Bitcoin’s Role in the Digital Economy Sparks Fresh Industry Debate

Dorsey, often rumored to have ties to Bitcoin’s mysterious creator, Satoshi Nakamoto, made headlines this week after reiterating his stance on the coin’s identity. The brief post, shared on X (formerly Twitter) on Sunday, drew thousands of comments and revived long-standing debates about Bitcoin’s true purpose and position in the digital economy.

Dorsey’s statement comes amid growing tension between Bitcoin maximalists—who see BTC as the only legitimate digital currency—and supporters of the broader crypto ecosystem, which includes thousands of alternative coins and blockchain projects.

Many in the community noted that Satoshi Nakamoto once described Bitcoin as a “peer-to-peer cryptocurrency,” suggesting that Bitcoin is indeed part of the crypto family. However, Dorsey emphasized the word currency, arguing that Bitcoin’s foundation lies in its function as money rather than as a speculative digital asset.

The conversation also revived old rumors linking Dorsey to Nakamoto. Earlier this year, Seán Murray of deBanked published circumstantial evidence connecting Dorsey to Bitcoin’s creation. None of the claims has been verified, and Dorsey denied the speculation in a 2020 interview with Lex Fridman, jokingly saying, “No, and if I were, would I tell you?”

Bitcoin’s Original Vision Resurfaces Amid Industry Debate

To support his view, Dorsey pointed to Bitcoin’s white paper, published in 2008, which makes no mention of the term “crypto.” Instead, the document defines the coin as a “peer-to-peer electronic cash system” that relies on “cryptographic proof instead of trust.”

Satoshi Nakamoto’s posts on the Bitcointalk forum also described the firstborn crypto as a “digital currency using cryptography and a distributed network.” For Dorsey, this distinction matters—he sees Bitcoin not as another asset in the crypto market but as a revolutionary monetary system designed to replace traditional intermediaries.

BTC Positioned as Everyday Money, Not a Speculative Asset

Just before his “not crypto” statement, Dorsey posted another message on X: “Bitcoin is money.” He linked the idea to his ongoing work at Block, the financial services company he leads, and its payments subsidiary, Square.

Dorsey highlighted recent progress toward zero-fee BTC transactions through Square’s payment system, citing a user’s claim that every local merchant at a market had adopted Bitcoin payments thanks to the initiative. His focus remains on promoting the asset’s use as a practical payment tool, in line with its original purpose as peer-to-peer electronic cash.

He has also encouraged other platforms, such as Signal Messenger, to integrate Bitcoin payments—further illustrating his belief that the coin’s future lies in utility rather than speculation.

Dorsey’s Stance Draws Mixed Reactions from the Crypto Community

Dorsey’s stance drew mixed responses, with critics pointing to Bitcoin’s scalability issues as a drawback to it becoming a full peer-to-peer electronic system. According to them, slower transaction speeds and higher fees make it impractical for everyday payments. 

Others argue that his rejection of the “crypto” label reflects the ongoing divide between Bitcoin purists and those who support broader blockchain innovation.

David Schwartz, Ripple’s outgoing chief technology officer, weighed in on the discussion in a recent X post. Schwartz suggested that Dorsey’s message likely aimed to position BTC as a functional payment system rather than a speculative investment.

He noted, however, that Dorsey’s exact intent remains unclear—reflecting the broader uncertainty surrounding the comment within the crypto community.

Regardless of interpretation, Dorsey’s statement has once again placed Bitcoin’s essence at the center of public debate—forcing both believers and skeptics to re-examine what Bitcoin truly represents in the evolving digital economy.