Twitter and Square's Jack Dorsey: Bitcoin Will Be World’s Single Currency

But Dorsey is convinced that bitcoin will be used for everyday purchases, even from cups of coffee to haircuts.
Discussing with The Times, Dorsey stated:

Dorsey claims that most modern-day bitcoin holders are not interested in spending their coins or using them to purchase services or goods. Rather, they’re seeking to hang them on for as long as you can to see how high they could spike in value. This, together with the currency’s volatility, higher transaction fees and very low merchant adoption speed has prevented the money from reaching all it can.

Twitter recently made headlines when it announced it’d be following in the footsteps of Facebook and Google by banning cryptocurrency along with ICO-related advertisements. The social networking giant is allegedly joining the fight to stop scammers and imitation businesses from getting their period in the limelight, therefore paving the way for bitcoin’s legitimacy.