Billionaire tech entrepreneur Jack Dorsey has never been shy about his belief in Bitcoin. But one particular analogy continues to echo across the crypto space. Speaking at the Bitcoin Conference 2025, Dorsey declared that Bitcoin would make the current financial system feel “as irrelevant as the fax machine.”
In 2026, that comparison feels less like hype, and more like a strategic forecast unfolding in real time.
From Bold Prediction to Real-World Implementation
Dorsey’s conviction is not limited to speeches. Through his fintech company Block Inc., known as Square before, he has actively expanded Bitcoin’s real-world utility. The company recently rolled out zero processing fee Bitcoin payments for merchants through 2026, with a planned 1% fee thereafter.
For small businesses accustomed to paying 2–3% in credit card processing fees, this represents a meaningful cost reduction. In practical terms, it allows merchants to retain more revenue per transaction while giving customers an alternative payment rail outside traditional banking networks.
This move shows something bigger than a promotional campaign. It reflects a direct challenge to legacy financial infrastructure, which is the very system Dorsey compares to outdated technology.
Turning Bitcoin Into Everyday Money
Historically framed as “digital gold,” Bitcoin has often been viewed primarily as a store of value. Dorsey’s strategy aims to change that narrative.
Through integrations with Cash App and merchant services, Bitcoin payments are being positioned for routine transactions, from coffee shops to local retailers. Much of this functionality relies on the Lightning Network, a layer-two scaling solution designed to enable faster and cheaper transactions compared to the base blockchain.
Instant settlement and minimal fees create a use case that resembles digital cash more than speculative asset trading. If adoption continues to expand, Bitcoin’s role could evolve beyond investment portfolios and into everyday commerce.
A Structural Shift, Not Just Sentiment
Jack Dorsey’s “fax machine” analogy resonates because it frames the debate as structural rather than ideological. Traditional finance depends on intermediaries, cross-border friction, and monetary policies that can expand supply. Bitcoin, by contrast, operates on fixed issuance, open verification, and borderless transferability.
As more merchants test lower-fee Bitcoin payments, the conversation shifts from theory to infrastructure. Whether Bitcoin ultimately replaces major components of the existing system remains uncertain. However, one thing is clear, influential builders are no longer just advocating, instead they are deploying products.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
BTC Drops 0.57% in 15 Minutes: ETF Capital Deceleration and Derivatives Short Positioning Create Synchronized Selling Pressure
2026-03-25 12:15 to 12:30 (UTC), BTC recorded a -0.57% return within 15 minutes, with price range between 71126.1 to 71751.0 USDT, and amplitude of 0.87%. Market attention increased during this period, with notably intensified volatility, indicating elevated short-term capital participation and shrinking risk appetite.
The primary driver of this movement is the marginal slowdown in ETF capital inflows, weakened buying power in the spot market, and some holders choosing to reduce positions at higher levels. Combined with the derivatives market dominated by short positioning structure, negative funding rates persisting, and longs
GateNews18m ago
ETH drops 0.86% in 15 minutes: On-chain whale transfers and contract long liquidations amplify selling pressure
2026-03-25 12:15 to 12:30 (UTC), ETH experienced a sharp yield decline of -0.86% in an extremely short timeframe, with a price range between 2167.58 to 2191.55 USDT, reaching an amplitude of 1.09%. During this period, market attention surged rapidly, with trading activity and volatility intensifying in sync, resulting in significant short-term price movements that attracted substantial investor focus.
The primary driver of this anomaly was an on-chain whale depositing 13,739 ETH (approximately $28.96 million) in concentrated fashion into a major exchange, triggering sensitive market expectations regarding short-term selling pressure. Immediately following this…
GateNews18m ago
Institution: Circle Stock Price Plunge May Be Misinterpreted, New Stablecoin Regulations Mainly Target Distribution End
Research firm Bernstein points out that the market misinterpreted the Clarity Act draft, causing Circle's stock price to plummet. The bill restricts stablecoin yield distribution, not issuance, so the impact on Circle's business model is limited. In contrast, a certain CEX needs to restructure its revenue mechanism. In the long term, restricting passive income may benefit Circle in consolidating its market position.
GateNews29m ago
Can Cardano Price Recover to ATHs as ADA Pulls Into a Price Dive Down One Final Time?
Can Cardano price recover to ATHs this year?
At the moment, the asset is preparing for a price dive down, perhaps its last.
Is the long-awaited ADA bull pump almost here?
The crypto community is watching several altcoin assets closely as many have proven to be resilient through the
CryptoNewsLand29m ago
Analysis: Bitcoin Shows Strong Signal as It Stabilizes Against Market Trends, Likely to Rebound to $75,000
Amid tensions between the US and Iran and weakening macro liquidity expectations, Bitcoin remains above $70,000, demonstrating market resilience. Despite facing multiple headwinds, price pullbacks have been limited, and analysts believe strong underlying demand could lead to a market rebound targeting $75,000.
BlockBeatNews59m ago
Bitcoin value ‘off the chart’ as BTC price metric hits record lows in 2026
Bitcoin (BTC) is “off the chart” in terms of value-for-money as price diverges from hash rate, a market analyst says.
Key points:
Bitcoin price action is diverging from hash rate to an extent never seen before.
The Bitcoin Yardstick metric shows that price is in its “deep value”
Cointelegraph1h ago
