In an interview with thetimes.co.uk, the chief executive officer of Twitter and payments company Square, Jack Dorsey said that Bitcoin would overtake the dollar to become the world's only currency of the internet in a decade.

Bitcoin is the currently the world's most valued digital currency and brought the technology of "blockchain" with it.

"The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin," he said.

His payments app Square has recently added the facility of buying and selling bitcoin from Square Cash App. He went on to say that digital currency will replace traditional currency "probably over ten years, but it could go faster."

In an interview with the Verge, Dorsey has earlier described Bitcoin as the "next big unlock" in the world of finance.