The renaming of Square to Block, shortly after Jack Dorsey stepped down as Twitter’s chief executive, might give investors the sense that Mr. Dorsey’s remaining CEO job is now all about bitcoin and blockchain. It isn’t.
Mr. Dorsey is, of course, a major public proponent of the digital asset, calling it the “native currency” of the internet and tweeting about the potential for hyperinflation of fiat money. He has detailed a number of bitcoin-related initiatives for Block beyond the ability to buy and sell bitcoin, including decentralized financial applications, hardware wallets and mining. Certainly Block is positioned to be a highly visible leader in bitcoin, one way or another.