Elon Musk – the South African entrepreneur behind billion-dollar companies such as SpaceX and Tesla – and Jack Dorsey, the CEO Of both Twitter and Square, have agreed to meet at an upcoming conference to discuss the future of the world’s number one digital currency by market cap.
Elon Musk and Jack Dorsey Will Discuss BTC Together
Both Elon Musk and Jack Dorsey have contributed greatly – in both negative and positive ways – to the bitcoin and crypto scene. Dorsey’s Square, for example, was one of the first institutions to pledge public support for bitcoin and add the asset to its balance sheet. Initially buying around $50 million worth of the asset in late 2020, the company added another $120 million to its roster a few months ago, thereby bringing its total bitcoin wealth to about $170 million.
By contrast, Elon Musk initiated an even larger purchase during early 2021 when he decided to add approximately $1.5 billion worth of bitcoin to Tesla’s balance sheet. This sent BTC rocketing to a new all-time high at that point of approximately $57,000 per unit, though things have taken a serious turn since then partly because of behavior and tweets from Musk.
Following that initial purchase, Musk claimed that he would allow bitcoin-based payments for all Tesla goods and services in the future. However, he was quick to rescind that decision, claiming that he had concerns with the BTC mining process. This sent the world’s primary virtual asset into a downward spiral. At the time, BTC was trading in the mid-$50,000 range, though it was quick to lose several thousand dollars off its price.
From there, Musk hinted that he was looking to potentially part with his personal bitcoin stash, another move that saw the currency hit a new snag. Bitcoin, before long, had lost about half its value from mid-April of 2021, and was trading in the high $30,000 range. It has since lost even more of its value.
Either way, both figures (Musk and Dorsey) have agreed to chat with one another on July 21 at an event known as “The B Word.” The discussion was first prompted by Musk, who wrote on Twitter:
The message was meant to hint at bitcoin, and Dorsey seemingly took the bait. The social media exec responded with:
Bizarre! Let’s you and I have a conversation at the event. You can share all your curiosities.
The Meeting Is Set!
Musk then confirmed he was into the idea by writing the following message:
For the Bitcurious? Very well then, let us do it.
Dorsey responded in the positive and said his team would set things up. Their chat will be only one engagement of “The B Word,” which is set to feature a wide array of speakers and crypto industry experts including Cathie Wood of Ark Invest fame.