Elon Musk vs. Jack Dorsey at Bitcoin Event
According to its website, The B Word event will take place on July 21. It is a “Bitcoin focused initiative that aims to demystify and destigmatize mainstream narratives about Bitcoin, explain how institutions can and should embrace it, and raise awareness around areas of the network that need support,” its website details.
Dorsey, who will be a featured speaker at the event, tweeted promoting the event on Thursday. “As more companies and institutions get into the mix, we all want to help protect and spread what makes bitcoin open development so perfect. This day is focused on education and actions to do just that,” the Twitter CEO wrote.
Musk replied to Dorsey’s tweet: “Bicurious?” The Tesla CEO appeared to be commenting on what “B” stands for in the event’s name. He later tweeted: “Oh right … Bitcoin haha.”
Responding to Musk, Dorsey wrote: “Bizarre! Let’s you and I have a conversation at the event. You can share all your curiosities…”
Replying to Dorsey’s suggestion of “Let’s have the talk,” Musk agreed and wrote: “For the Bitcurious? Very well then, let’s do it.” Dorsey followed up with: “Done! Will set up.”
Many people are excited that Musk will talk about bitcoin with Dorsey, although neither has clarified what the talk will actually be about.
Ark Invest CEO Cathie Wood, who will also be a featured speaker at The B Word event, tweeted:
Brilliant. Looking forward to the discussion.
Wood and Dorsey have taken the view that bitcoin mining can help the environment while Musk thinks that the activity harms the environment. Wood’s investment company, Ark Invest, and Square have jointly published a report arguing that bitcoin mining is net positive for the environment.
Tesla invested $1.5 billion in bitcoin in the first quarter and began accepting the cryptocurrency for payments in March. However, Musk said in May that the electric car company had halted accepting BTC citing environmental concerns. He then said that Tesla will begin accepting bitcoin again “When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend.” However, his requirement may be complicated to verify.
Many people have tried to convince Musk that he has been misinformed about the environmental effects of bitcoin, including Shark Tank star Mark Cuban. The owner of the NBA team Dallas Mavericks explained to Musk that accepting bitcoin is actually good for the environment. The Tesla CEO also talked to North American bitcoin miners with the help of Microstrategy CEO Michael Saylor. The miners subsequently set up a bitcoin mining council.
How do you think the talk between Musk and Dorsey will turn out? Let us know in the comments section below.