Praising The Bitcoin whitepaper that was released in 2008 by Satoshi Nakamoto (a name used by the presumed pseudonymous person or the group that developed bitcoin) that outlines what Bitcoin is and how it works, Dorsey said he sees ample opportunity for Bitcoin to bring about a worldwide sea change.
The whitepaper Bitcoin is "one of the most seminal computer science works of the last 20-30 years. Bitcoin is like poetry, "he said via The Daily Hodl during a podcast on Artificial Intelligence (AI) with MIT research scientist Lex Fridman.
"I think it was clever not to do it anonymously, not to do it as a real identity, but to do it as a pseudonym, because I think it creates tangibility and a bit of empathy that this was a human or a set of people behind it. I can imagine this natural identity there, "Dorsey explained.
Does Bitcoin have the potential to become the world's biggest currency, and redefine how money works?
"Definitely, but the bigger ramification I think is how it affects the way society works. I think outside of just money, there are many positive ramifications. Money is a foundational layer allowing so much more, "replied Dorsey.
Twitter is also considering a feature allowing users to tip each other-in Bitcoins.
Recently, the Information reported that the micro-blogging platform is working on implementing a new payment functionality to allow people to send money to each other.
It is not yet clear whether the Twitter tipping feature would integrate with the other company of Dorsey, Square, which is a San Francisco-based financial services, aggregator of merchant services, and mobile payment company.
Bitcoin will one day be the internet currency and its company Square will integrate cryptocurrency payments according to the Twitter CEO.
Also, Dorsey has hired Bitcoin developers for his payments business.
"I think we'll see a lot more innovation everywhere as we gain a more durable, resilient, and global standard," he said during the podcast late last week.