Jack Dorsey doubles down on comments that Bitcoin will become the internet\u2019s native currency\u2014not a commercial alternative.\r\n\r\nJack Dorsey, the CEO of Twitter and longtime Bitcoin supporter, is choosing not to jump on the Libra bandwagon. He told The Sydney Morning Herald that Bitcoin is still the internet\u2019s \u201cbest bet\u201d for a native currency\u2014rather than a commercial alternative.\r\n\r\nDorsey has long supported Bitcoin, and has been speaking openly about his support for the project over the last few months. He\u2019s invested in Lightning Labs, which is building Lighting, a solution designed to help Bitcoin scale and he also owns Square, which made $2 million in profit in Q2 2019 by selling Bitcoin. But Dorsey doesn\u2019t just think it is better than the current swathe of altcoins, but thinks it outperforms commercial projects, such as Facebook\u2019s upcoming Libra.\r\n\r\n\u201cOpen internet standards serve every person better than ones controlled or started by companies,\u201d Dorsey told the Australian media outlets.\r\n\r\nThe Twitter CEO added that Twitter will not seek to challenge Facebook\u2019s Libra\u2014or any other commercially run cryptocurrency project\u2014by creating its own coin. Instead, Dorsey\u2019s preference is for \u201cexisting, open standards\u201d\u2014in the same way that the internet evolved in its early years.\r\n\r\nFacebook\u2019s Libra is not the only cryptocurrency project in development by a centralized company or designed to be run by an organization of companies. The main implementation of the XRP ledger is written by Ripple and nodes typically use a recommended list of validators\u2014some run by Ripple itself. Zcash is largely built by the Electric Coin Company. And possibly the most centralized of all, China\u2019s Central Bank Digital Currency will be run entirely by the Chinese Central Bank.\r\n\r\nBut Dorsey and Facebook have history. Facebook tried to buy Twitter for $500 million back in 2008, but Twitter declined the offer. And Facebook spent years gobbling up users while Twitter\u2019s growth flatlined. According to Statista, Facebook has surpassed 2 billion users, growing at a rate of around 2.5% every quarter, whereas Twitter lags behind, with 330 million users (at the end of 2018), and is losing around 5% every quarter.\r\n\r\nWhich means Mark Zuckerberg probably doesn\u2019t care what Dorsey thinks.