• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
Sensei Inu Logo

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

Nick Chong by Nick Chong
5 years ago
in Bitcoin
Reading Time: 2 mins read

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.

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
Tweet123Share315ShareSend
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

Bitcoin BTC price October

Bitcoin News: Analysts Reveal Forecasts For October As BTC Price Pushes Past $28,000

8 hours ago
Bitcoin price

Bitcoin Price Skyrockets Past $28,000, Here’s Why

13 hours ago
Bitcoin

Crypto Analyst Tips Bitcoin (BTC) To Reach $40,000 In Q4 2023

1 day ago
Why Is Bitcoin Price Up Today

Why Is Bitcoin Price Up Today? Insights From Leading Analysts

4 days ago
Bitcoin vs bonds

Bonds Out, Bitcoin In? Bloomberg Analyst Predicts Major Portfolio Shifts

4 days ago
Bitcoin monthly close September

Bitcoin Price Trend At Stake: How September’s Close Could Change Everything

5 days ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • The Next Bull Run Is Approaching, Follow The Smart Money...

    8 hours ago
  • Index CFDs: Experts Have Conducted A Comprehensive Study In...

    11 hours ago
  • Unbelievable: Tradecurve (TCRV) Skyrockets, Leaving...

    13 hours ago
  • Microsoft’s AI Reveals the Holy Trinity of Profit...

    13 hours ago
  • Investing in Trading 212: Is the Risk Worth the Reward?

    2 days ago

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.

Cryptocurrency news

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

Technical Analysis

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

Company

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

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 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.