Elon Musk and Jack Dorsey will talk about BTC at a forthcoming conference.
Musk and Dorsey have agreed to meet at an upcoming conference to discuss the future of BTC.
CEOs to discuss BTC together
Both of the CEOs have contributed greatly – both positive and negative ways – to the Bitcoin and crypto scene. For instance, Dorsey’s Square was one of the first institutions to pledge public support for Bitcoin and add the asset to its balance sheet. Basically buying nearly $50 million worth of the asset in 2020, the company added $120 million to its roster just a few months ago. Therefore, their total bitcoin wealth is roughly $170 million.
Elon’s Bitcoin Frenzy
In contrast, Elon Musk started an even larger purchase in early 2021 when he added around $1.5 billion worth of Bitcoin to Tesla’s balance sheet. Because of this, BTC skyrocketed to a new all-time high of nearly $57,000 per unit. However, things have taken a turn since then because of behavior and tweets from Musk.
After that purchase, Musk claimed that he will allow bitcoin-based payments for all the Tesla goods and services in the near future. But he was quick to take back that decision, saying he had concerns with the BTC mining process. Because of this statement, the world’s largest cryptocurrency by market cap went into a dip. That time, Bitcoin was trading in the mid-$50,000 range, although it lost several thousand dollars from its price quickly.
Since then, Musk claimed that he has been considering selling his personal bitcoin stash. It is another move that the cryptocurrency experienced. Bitcoin had lost around half of its value from mid-April this year. It was trading in the high $30,000 range. It has since lost even more of its value.
Both CEOs have agreed to chat with each other on July 21 at an event named as “The B Word.” The discussion was initiated by Musk, he wrote on Twitter:
The message was meant to hint at bitcoin, and Dorsey seemingly took the bait. The social media exec responded with:
The message was a hint at Bitcoin, and Dorsey seemed to take the bait. The social media CEO responded:
The meeting is on!
And then Musk confirmed that he was into the idea by writing the message:
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