• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Here’s Why Twitter CEO Jack Dorsey & Co. Are ‘Stacking’ Bitcoin

Nick Chong by Nick Chong
2 years ago
in Bitcoin
Reading Time: 2min read
Here’s Why Twitter CEO Jack Dorsey & Co. Are ‘Stacking’ Bitcoin
Advertisement
Listen to Article

Like many other Internet communities, the crypto space has trends. Over recent weeks, the Trust Chain event, along with the “Delete Coinbase” campaign, have trended on what has been dubbed Crypto Twitter. Most recently, however, #stackingsats (Stacking Satoshis) has begun to garner traction in the halls of the school of Bitcoin.

Twitter’s Jack Dorsey Accumulating Bitcoin

Each and every week, industry participants the world over have posted their weekly purchases of BTC (usually valued at $25), in a bid to show that they are stacking satoshis, fractions of Bitcoin, in preparation of further adoption. Although the pseudo-movement has already seen participation from Pierre Rochard, Spot, among many other prominent personalities, the accumulation movement scored a big win on Saturday, as Jack Dorsey, the chief executive of Twitter and Square, joined in on the fun, purchasing Bitcoin on his own app.

#stackingsats pic.twitter.com/39ZW8e4XOU

— jack (@jack) March 3, 2019

As seen below, the Silicon Valley mainstay purchase $25 worth of BTC on the Cash App, which sold $166 million worth of the cryptocurrency in 2018. It isn’t clear if Dorsey will return for the next round of Stacking Satoshis, but the nod to the Bitcoin community was appreciated nonetheless.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Rationale Behind #StackingSats

So what’s the deal with Stacking Sats, and why are so many bigwigs in this industry, like Jack Dorsey, getting involved?

Well, many argue it’s quite simple. Matt Odell, who has kept to accumulating amid this so-called “crypto winter,” recently broke down this movement in a simple image. The pro-Bitcoin coder, noted that as it stands, you can buy 262 satoshis (0.00000262 BTC) for one U.S. penny, 26,200 satoshis for a dollar, and so on so forth. Hinting at Bitcoin’s supply cap of 21 million, Odell added that in a couple of years, the world will look back at 2019 and be “blown away” about how cheap the cryptocurrency was.

262 sats for a penny
26,200 sats for a dollar
2,262,000 sats for a hundo

In a couple years we will look back at 2019 and be blown away at how cheap bitcoin was. #stackingsatshttps://t.co/JISUfigX2L by @jackopr1 pic.twitter.com/frMtGf9T1s

— Matt Odell (@matt_odell) March 2, 2019

This is, of course, in reference to the extreme (and very real) scarcity of BTC, and the importance of that characteristic, especially in a world rife with inflation and seemingly irresponsible monetary and fiscal practices.

Related Reading: Researcher: Bitcoin Will Easily Surpass Market Cap of Gold at $8 Trillion

Dennis Pourteaux, a BTC investor that graduated from Harvard, also recently touched on the cryptocurrency’s scarcity, arguably the key driver behind BTC’s long-standing value. Pourteaux, citing a post from Trust Chain creator Hodlnaut, a Netherlands-based Bitcoin enthusiast, noted that per his napkin math, there are a mere 300,000 satoshis (0.003 BTC) available for every human alive today. At current market valuations, such a crypto sum is valued at $11 — the minimum hourly wage in a number of U.S. states.

If everyone on the planet had an equal number of bitcoin, we’d each have 0.0003 bitcoin (300,000 sats). Today you can buy this amount for just over a dollar. It won’t always be this way. https://t.co/JheGzo9g4t

— Dennis (@pourteaux) February 24, 2019

While $11 in investable disposable income may be hard to obtain for some, many crypto enthusiasts responded to the noticing by remarking that it would be unwise for prospective investors to not go above and beyond their 0.003 BTC allocation.

Featured Image from Shutterstock
Tags: bitcoincryptoJack Dorsey
TweetShare119
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

altcoins bitcoin crypto alt season altcoin xrp ethereum ripple litecoin

Centralized Wealth: The Downside To Institutional Bitcoin Buying

1 day ago
bitcoin dark web monero

Why The Dark Net’s Most Active Market Ditched Bitcoin For Monero

6 days ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Reclaims $40,000 as Powell Rubbishes Taper Tantrum Woes

7 days ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Logs Revenge Recovery as Lagarde Calls for Global Regulation

1 week ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Flickers Near $35,000 as Bond Yields Drop; A Detailed Outlook

1 week ago
bitcoin bar new york

Landmark Real Estate Listing Offers Two New York Bars For 25 Bitcoin

1 week ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Bit.com To Launch Industry’s First BCH Options

January 20, 2021

NOWPayments Presents: Fiat Conversion

January 20, 2021

The Foundation for Economic Education Announces Two Major Gifts from Bitcoin.com Founder Roger Ver

January 19, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.