Musk’s and Dorsey’s views on the biggest cryptocurrency in the world differ.
Elon Musk, Tesla CEO, trolled Jack Dorsey, Ark Invest CEO Cathie Wood to respond to a tweet by Dorsey regarding Bitcoin. However, he eventually agreed to take part in a discussion about the cryptocurrency.
Dorsey, a well-known proponent of cryptocurrency, tweeted Wednesday, “The development group above all else.” “As more institutions and companies join the mix, we all want help spread open development.” This day is all about education and taking actions to achieve that goal.
Dorsey tweeted a link to a website for a Bitcoin-focused initiative called The B Word. It is hosted by The Crypto Council for Innovation. The organization claims itself as “a global alliance for crypto industry leaders.” Wood will co-host the event.
“Bicurious?” Musk replied, most likely in reference to “The B Word website.”
He followed up with another tweet saying “Oh right… Bitcoin haha.”
“Bizarre!” Dorsey replied. “Let’s have a conversation at this event. All your curiosity can be shared
In a second tweet, he added: “Let’s have THE Talk.”
“For the Bitcurious?” Musk asked the question, referring to those who might be interested in Bitcoin. “Very well, then, let’s go.”
“Done!” Dorsey replied, “Done!
On July 21, the talk or debate will take place.
Wood joined the fun by tweeting “Brilliant!” We look forward to the conversation.
Musk and Dorsey have different attitudes towards the most widely used cryptocurrency in the world. Musk is more concerned about its effects on the environment, while Musk has supported Bitcoin without reservation. Bitcoin mining involves solving complex mathematical puzzles using powerful computers that consume large amounts of energy.
Musk posted a statement on Twitter, May 12, saying that he was concerned by the rapid increase in fossil fuel use for Bitcoin mining and transactions. He also stated that coal has the highest emissions of any fuel. “Cryptocurrency has many good points and we believe it has the potential to be a great future. However, this must not come at a high cost to the environment.”
In February, Tesla announced that it would acquire $1.5 billion worth bitcoin and would accept cryptocurrency as payment. Musk reversed his decision later, claiming that the use of crypto-energy was a danger to climate change and that the automaker would not accept it as payment.
Critics accused Musk, among others, of manipulating markets through his praises and criticisms of the coin as well as his support for Dogecoin, a cryptocurrency that began as a joke but has gained enormous popularity.
However, the Tesla founder on June 12th suggested that things could change.
Musk tweeted that Tesla would resume accepting Bitcoin transactions once there is confirmation of reasonable (50%) energy use by miners with a positive future trend.
Dorsey has indicated that he will be involved in Bitcoin for the long-term. At the Bitcoin 2021 conference, he suggested that he would devote his time to Bitcoin if it wasn’t for his two other tech companies, Twitter (and Square). Since October last year, Dorsey purchased more than $200,000,000 in Bitcoin via Square.
During the conference, Dorsey stated that “If I wasn’t at Square or Twitter I would be working for Bitcoin.” “…Whatever I do, whatever my companies do — to make Bitcoin available to everyone, that’s what I will do for my whole life.”