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Twitter CEO Jack Dorsey Tweets in Favor of Bitcoin

CryptocurrencyMay 16, 2021 10:30AM ET
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Twitter CEO Jack Dorsey Tweets in Favor of Bitcoin

  • Jack Dorsey recently tweeted in support of Bitcoin.
  • Dorsey believes no one person can change or stop the top crypto.
  • The tweet came in the wake of Elon Musk criticizing Bitcoin.

Jack Dorsey, Twitter, and Square Inc (NYSE:SQ) CEO, recently showed his support for Bitcoin in a tweet.

In fact, Dorsey’s post was in response to Square Inc CFO, Amrita Ahuja. Ahuja tweeted that Square’s Bitcoin strategy hasn’t changed. Also, the company is still working to make Bitcoin more eco-friendly and greener.

However, there was no obvious link between Dorsey or Ahuja’s tweet and Elon Musk. Yet, the series of tweets have still sparked speculation that Square Inc and Dorsey are making clear their position with Bitcoin in response to Tesla’s recent move.

To clarify, Musk recently reported that Tesla (NASDAQ:TSLA) will no longer accept Bitcoin payments. Of note, Musk indicated that the decision was due to Bitcoin’s high carbon emission. In that case, the decision makes sense as Tesla aims to offer a greener option to fossil fuel-powered vehicles via its electric cars. Still, the general response to the news has been mixed.

Adding to that, Musk also alluded to Tesla looking into more energy-efficient altcoins. In fact, there are reports that Musk is working with the DOGE team to improve its transactions. However, fellow crypto fan Dorsey is taking a different approach.

In comparison, Dorsey believes that no one person can change or stop Bitcoin. As a result, Dorsey is positioning himself to influence BTC into reducing its carbon footprint.

Notably, Dorsey in his personal capacity has donated and invested in Bitcoin. He has even stated that crypto use could help reduce poverty in Africa. On the other hand, Square Inc has invested over $150 million in Bitcoin and Twitter converted its first tweet into an NFT.

The first tweet NFT went on to sell for over $2.9 million. As such, Dorsey’s commitment to Bitcoin has been consistent in both personal and business practices.

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Twitter CEO Jack Dorsey Tweets in Favor of Bitcoin

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