Emre Yumlu 
Jack Dorsey, co-founder of Twitter and CEO of Block, has hailed Bitcoin’s 16-year track record as a relentless upward journey. He attributes its rise to its mathematical scarcity and growing corporate adoption, positioning it as a viable alternative to gold. Here’s a deep dive into the reasons behind Bitcoin’s ascent and Dorsey’s bold perspective.
The Power of Mathematical Scarcity
Dorsey emphasizes that Bitcoin’s growth isn’t fueled by speculation but by its inherent mathematics. With a fixed supply capped at 21 million coins, Bitcoin’s scarcity drives demand. This structure underpins its value, making it a compelling choice for companies. Dorsey notes that traditional US savings accounts offer a mere 0.5% interest while 3% inflation erodes cash value.
In contrast, Bitcoin has outperformed gold, stocks, and real estate over the past decade. Data from Fidelity Digital Assets shows Bitcoin’s risk-adjusted returns from 2020 to 2025 surpassed most traditional assets, reinforcing its appeal as a corporate treasury asset.
Bitcoin as the New Digital Gold
Dorsey likens Bitcoin to gold, describing it as a digital store of value. While gold boasts a $13 trillion market cap, Bitcoin’s has exceeded $2.5 trillion. Post-2024 halving, Bitcoin’s stock-to-flow ratio rivals gold’s, cementing its status as a scarce asset and a hedge against economic uncertainty.
A Shield Against Dollar Devaluation
Dorsey highlights Bitcoin’s role as a safeguard against the US dollar’s declining purchasing power, which has dropped roughly 20% since 2009, per Bureau of Labor Statistics data. Major firms like MicroStrategy, Tesla, and Block hold billions in Bitcoin reserves, with MicroStrategy alone owning 190,000 BTC, valued at approximately $19 billion. BlackRock’s IBIT ETF holds over 300,000 BTC, signaling growing corporate trust in Bitcoin as a financial shield, according to Dorsey.
Market Trends and Adoption Surge
Per CoinGecko, Bitcoin trades near $100,000 with a daily volume of about $50 billion. It boasts over 500 million users worldwide and is accepted by more than 1,000 businesses. The SEC’s approval of Bitcoin ETFs in July 2025 fueled institutional adoption, reducing volatility from 100% in 2017 to 40% in 2025.
Critics argue that 30-40% monthly price swings undermine Bitcoin’s reliability as a savings vehicle. Yet, Dorsey focuses on long-term trends, dismissing short-term noise and regulatory hurdles, like India’s 30% crypto gains tax, as Bitcoin’s global adoption and historical post-halving rallies point to continued growth.
This content is not investment advice.
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