Jack Dorsey, co-founder of Twitter, which has about 330 million users worldwide, has named the reasons why bitcoin is capable to become the global currency of Internet in the long term.

The Internet is a sphere that is not controlled by any company or any government, it is a place for all people in the world, and the optimal currency for it is bitcoin, Jack Dorsey said in an interview to Quartz.

“I haven’t seen any other currency that would challenge it across the dimensions that I think are really important. First, I think it has an amazing brand. The other thing that I think makes it probably the strongest candidate is that the principles behind it are very pure. The creation of it was very pure, and focused on a public good, rather than any other particular agenda. The fact that it’s meant to be deflationary, meant to incentivize savings instead of spending, I think is a net positive for the world and how we think about consuming. Because it is a scarce resource, it has a probability of always increasing in value, which makes you consider a lot more how you spend it. Because you know that spending it today—it might go up in a week. And purchasing coffee, or a new sofa, with that really puts everything in perspective. Do I really need this? So from a psychological perspective, I think that’s interesting.

And finally, I think it’s been resilient. It’s 10 years old now, so it’s been tested over those 10 years, across every dimension from security threats, to governments, to forks, to agendas from miners, to nefarious nation states, and it’s been resilient to all those threats and challenges.”

According to Dorsey, crypto-enthusiasts dreamed of such an instrument for the last 30–40 years, and currently there is a very “passionate” community formed around bitcoin.

Dorsey also noted that Internet currency should be transnational and give access to financial services to everyone without barriers.

“I would hope that all private companies can see the value of having a stateless currency that all people can access, and is not bounded or constrained by any one corporate entity.”