Tech titans are battling it out for and against Bitcoin (BTC) this week. After Elon Musk’s Tesla dropping Bitcoin (BTC) payments citing environmental concerns, Twitter’s Jack Dorsey has come to the rescue of Bitcoin (BTC). Dorsey, who also heads digital payments company Square Bitcoin changes “everything” for the better.
Furthermore, he also expressed his commitment to making Bitcoin better with time. Here’s what Jack Dorsey exactly tweeted:
Jack’s tweet came in response to Square CFO Amrita Ahuja stating that the company’s Bitcoin strategy hasn’t changed. Square Inc has invested more than $150 million so far in Bitcoin over the last few months. However, the Square CFO also assures the company’s commitment to a greener future via its Bitcoin Clean Energy Initiative.
Although Tesla continues to hold its Bitcoin (BTC), Elon Musk has been whimsical changing sides and extending support to his favorite meme-coin Dogecoin (DOGE). After asking his followers whether they would like to see DOGE payments at Tesla, Musk announced that he’s working with Dogecoin developers to make the entire system better.
Well, this has resulted in a strange war of Bitcoin vs Dogecoin in the crypto community. Responding to Jack’s tweet and the drama all around one person Knut Svanhold wrote: “Neither Jack, nor Elon, nor anyone else can change #Bitcoin. Bitcoin will change Jack, Elon and everyone else”. Jack too agreed to his statement writing:
Jack Dorsey has been associated with 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 giving away 500 BTC.
Well, as it turns out, not everyone is against Tesla for dropping Bitcoin (BTC) payments. Reuters asked a few prominent investors in Tesla, and here’s what they had to say. APG Asset Management Chief Investment Officer Peter Branner said:
“The energy waste should be avoided regardless of its color. And Tesla should focus on its core business. Drop the bitcoin position and move on”.
Guillaume Mascotto, head of ESG and Investment Stewardship at American Century Investments, one among top-40 Tesla investors said that a move into Bitcoin would rather have an impact on the way it is viewed. Mascotto noted:
“It would affect our ESG risk views on payment companies and other firms taking large positions in crypto especially if it contributes to ‘engineering’ their bottom-lines like we saw with Tesla”.
It looks like Musk always manages to have some people by his side on any decision that he takes!
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