Tesla's Elon Musk and Twitter's Jack Dorsey have both agreed to talk about Bitcoin at an upcoming event in July.
Dorsey posted about The B Word event, which aims to encourage investors and companies to adopt bitcoin, and Musk responded to the thread confirming his attendance.
Elon Musk and Jack Dorsey to Attend Event, The B Word
The cryptocurrency event is scheduled to take place on July 21. According to its official website, the event will offer a live experience and numerous contents to the investors, according to CNBC.
The event is also the perfect place to enable a more informed discussion about bitcoin and its advantages for institutions around the world.
Musk has always been vocal about his support for cryptocurrency, especially on social media. In January, he wrote the hashtag #bitcoin on his Twitter bio.
In February, Tesla bought $1.5 billion worth of bitcoin and announced that it could start accepting cryptocurrency as a payment method for vehicle purchases.
Also, Musk posted a series of tweets supporting dogecoin, another type of cryptocurrency. However, this was met with ridicule from the public, claiming that it is nothing but a "joke cryptocurrency."
In May, Musk rowed back on his views about Bitcoin and announced that Tesla would no longer accept Bitcoin for vehicle purchases due to environmental issues around the amount of energy needed to mine the digital currency. He also posted a meme that hints at his disinterest in bitcoin.
However, earlier this month, Musk said that Tesla would accept cryptocurrency as payment only if half of the bitcoin mining is powered by clean energy, as reported by NDTV.
Bitcoin is facing challenges in the last few months. On June 22, the cryptocurrency fell below the key $30,000 mark, briefly erasing its gains this year.
As of June 25, it has risen back above the $33,000 key, but it is still down 50% from its all-time high of almost $65,000 that was recorded in April.
Jack Dorsey's Stance on Bitcoin
Musk is not the only tech billionaire that is passionate about cryptocurrency, especially bitcoin. Twitter and Square co-founder Jack Dorsey is also investing in bitcoin, stating that it is the most important thing that he wants to work on in his life.
At the Bitcoin 2021 Conference on June 4, Dorsey said that if he was not at Twitter or Square, he would spend all his time working on bitcoin, as reported by Business Insider.
To Dorsey, bitcoin has the potential to create a new financial infrastructure that is more inclusive and supportive, especially for underserved communities.
Dorsey added that people living in other countries could be protected against currency devaluation, and bitcoin can help expedite transfers of funds across borderlines. This is why the Twitter co-founder and rapper Jay-Z created a multimillion-dollar fund to help push the bitcoin development in India and Africa.
Although a lot of critics of bitcoin disagree with Dorsey's statements, pointing out that everything he said is just pure speculation and that bitcoin is a risky investment that can still be susceptible to fraud, they still see bitcoin as a decentralized currency that can be protected against inflation.
This article is owned by Tech Times
Written by Sophie Webster