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- Block (previously Square) and Twitter founder Jack Dorsey got invited by Congressional Democrats to conduct some debates regarding Bitcoin.
- Jack Dorsey gave information regarding Bitcoin to House of Financial Services Committee Democrats in a private meeting.
- At the time of this writing, Bitcoin was trading at a market value of $44,780.58, down by 5.03% during previous 24 hours.
An Educational Meeting
Jack Dorsey, founder of Twitter and Block (previously Square), was called on by Congressional Democrats to make discussions regarding Bitcoin.
As per a couple of sources familiar with this issue, Jack Dorsey talked about bitcoin to House Financial Services Committee Democrats in an exclusive session on 31st March.
Members asked Jack Dorsey a sequence of questions associated with frequently quoted concerns over cryptocurrency. This involves Bitcoin’s power consumption, money laundering applications, and restricted circulation as a mode of payment.
Jack Dorsey referenced shifts in energy mix which fuel PoW networks such as Bitcoin, the clarity of transactions based on blockchain for investigators, and an escalating user base for cryptocurrency in payments beyond Western World.
Members also showed an interest in Block’s step to concentrate on payments based on Bitcoin.
Jack Dorsey stated that they want to develop services and do not want to be a Mastercard or Visa. They desire to be an open medium for all folks across this globe.
The specifics are known discussion points in Congress, with reactions that committee has heard in former formats, involving public hearings. More important is that such a briefing is occurring at all.
Democrats of the Committee hosted an alike private discussion on cryptocurrency with SEC chair, Gary Gensler in February.
Bitcoin Price Action
Bitcoin remains on a rocky road, but thankfully this road currently holds a higher altitude. Russia’s invasion of Ukraine still remains a prominent event to inflict fluctuations in prices of Bitcoin.
Currently, as we can see in this chart, Bitcoin bulls were active, which pulled the crowned currency by 17.41%, where it traded at $40,901.13 on March 22, to reach $47,459.03 on March 29th. Since then, bears took over the asset, and is bearish since.
It has broken the psychological barrier of $45,000, and is trading under those levels.
As of this writing, Bitcoin was trading at a market value of $44,780.58, up by 1.11% in last 7 days.
Currently, it is hoped that Bitcoin will stay above $43,000 levels for a while.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
