Jack Dorsey, Twitter’s CEO, expresses his support for Bitcoin and says that the cryptocurrency changes everything for the better.
Jack Dorsey defends Bitcoin
Last Friday, 14th, Twitter CEO Jack Dorsey used his profile to express his support for Bitcoin (BTC).
According to Dorsey, the digital currency “changes everything for the better”. In addition, the CEO promised to “forever work to make Bitcoin better”.
#bitcoin changes *everything*…for the better.
And we will forever work to make bitcoin better. https://t.co/wssrF2U0P0
— jack (@jack) May 14, 2021
The tweet, in turn, was made in response to Amrita Ahuja’s publication. Amrita is the chief financial officer of Square, a company in which Dorsey is also the CEO. According to her, Square’s strategy towards BTC has not changed.
“Our strategy towards Bitcoin has not changed. We are deeply committed to this community, including working towards a greener future through our Bitcoin Clean Energy Initiative”, says the tweet.
Our bitcoin strategy hasn’t changed. We’re deeply committed to this community, including working towards a greener future through our Bitcoin Clean Energy Initiative. And as we shared in February, we continue to assess our bitcoin investment on an ongoing basis. Nothing new here. https://t.co/X9YjFt6J1k
— Amrita Ahuja (@AmritaAhuja) May 14, 2021
Bitcoin: Tesla vs Twitter
Dorsey’s tweet came a day after Elon Musk announced that Tesla will no longer accept BTC as a form of payment due to its energy consumption in the mining process.
“We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining transactions, especially coal”, said Musk.
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
— Elon Musk (@elonmusk) May 12, 2021
Although Musk’s electric car maker continues to maintain part of its BTC, the billionaire appears to be becoming an enemy of Bitcoin and increasing its support for the cryptocurrency meme, Dogecoin (DOGE).
What do entrepreneurs say about BTC?
It is nothing new that Musk has a strong influence on people, whether they are investors or followers.
After Musk’s announcement, BTC value depreciated almost 15% and many wondered what the position of other companies in relation to the digital asset would be.
According to CoinMarketCap, Bitcoin today’s price is $43,901.79 and its market cap is about $822,686 billion.
Currently, the finance company Square has 8,000 BTC, valued at approximately $2 billion.
It is worth mentioning that the Cash App application, owned by Square, was one of the first to allow customers to buy cryptocurrencies.
Contrary to Musk’s position, the Twitter CEO made it clear that he will continue to support the digital currency.
In addition, in a note to the Markets Insider portal, a Square representative stated that the company “will continue to evaluate investment in Bitcoin continuously”.
Dorsey and BTC
Jack Dorsey’s systematic support for BTC has been remarkable since the beginning of the year. After Square bought $ 170 million in BTC, the CEO declared in a virtual conference that “the internet needs a native currency and we believe it is Bitcoin”.
Dorsey also participated in a series of initiatives to promote cryptocurrency and take it to the masses.
In early February, the executive partnered with singer JayZ to launch a BTC Fund for developers in Africa and India. Together, the amount donated to the Fund was 500 BTC.
It is also worth noting that, unlike Musk, who sees digital assets as an “enemy of the environment”, Dorsey believes that the currency “encourages renewable energy”. The statement was made in April and, most curious, is that Musk showed that he agreed with Twitter’s CEO.
True
— Elon Musk (@elonmusk) April 22, 2021
