Musk vs. Dorsey: Is Bitcoin Going To Make It?
The two tech giants Musk and Dorsey both have an opinion about Bitcoin.
Ding dong. Two tech giants compete against each other in the ring. One is the founder of Twitter (Dorsey), the other of Tesla (Musk). Both gentlemen are fans of digital coins, but Musk has recently tempered his enthusiasm about Bitcoin.
Musk vs Dorsey
The two alpha males are competing for or against Bitcoin this week. Musk announced this week that his company Tesla has dropped payments with Bitcoins due to environmental concerns. Making transactions and mining Bitcoins takes a lot of energy. That is why the coin is far from environmentally friendly, and Musk no longer likes that. Dorsey against this, Bitcoin came to the rescue this week. According to Dorsey, who also leads the digital payments company Square Bitcoin, “everything” is changing for the better. He also spoke about his commitment to making Bitcoin better over time.
Bitcoin
So both Musk and Dorsey have strong opinions about Bitcoin. Tesla has bought Bitcoins for a lot of money and will keep them. But Musk has again shown how erratic he is and how quickly he can change sides. Buying your Tesla with Bitcoins is no longer possible.
Especially because he is now again full throttle on that other currency: Dogecoin. It is rising like a rocket, after Musk sent a few Tweets over the digital currency. He’s even now working with the developers to improve Dogecoin’s system.
Dorsey remains a strong supporter of Bitcoin, even though he sees areas for improvement. He has previously supported a number of Bitcoin-backed initiatives to bring the cryptocurrency to the masses. Earlier in February 2021, Jack Dorsey partnered with JayZ to launch a Bitcoin Fund for developers in Africa and India. Together they announced that they would give away 500 BTC.
Responding to Jack’s tweet and the drama surrounding one person wrote Knut Svanhold (Bitcoin author): “Neither Jack, nor Elon, nor anyone else can change #Bitcoin. Bitcoin will change Jack, Elon and everyone else ”. And there will be some truth in that.
