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The Bitcoin community cheered, as Tesla TSLA billionaire Elon Musk has been diving into crypto this year.
Musk sent bitcoin’s price sharply higher when Tesla’s surprise bitcoin bet was announced in February, but his curious Twitter TWTR personality and the growing support for ethereum and meme-based Dogecoin have antagonized bitcoin ever since.
Now, Twitter CEO Jack Dorsey, a longtime Bitcoin supporter, has revealed that it’s “only a matter of time” before Bluesky, Twitter or the fledgling decentralized social network project integrates Bitcoin payments – and replaces Elon Musk as the new Bitcoin billionaire champion.
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Tesla CEO Elon Musk sent the price of Bitcoin sharply higher when the Tesla purchase was revealed… [+] Bitcoin this year, but has since alienated much of the Bitcoin community.
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Dorsey, who also leads payments company Square, responded to a Bitcoin fan account on Twitter asking him to “create [the bitcoin lightning network] To BlueSky or Twitter. “
The Lightning Network allows Bitcoin to be sent via a payment protocol built on top of the Bitcoin blockchain and is designed to help scale the network, reduce fees, and speed up transactions. Interest in the Lightning Network was boosted this month by news that El Salvador will use it to facilitate bitcoin spending online, and that bitcoin has personally become its official currency alongside the US dollar.
Dorsey, who told a packed crowd at the Bitcoin 2021 conference in Miami last week that if he wasn’t on Square SQ or Twitter, [he] It will work on bitcoin,” has since been at the site of the bitcoin attack.
“If you think that bitcoin does not ultimately transfer power from banks and corporations (the ones that are fighting it!) to people globally, then you are right, [it’s] Useless,” Dorsey responded via Twitter to influential US Senator Elizabeth Warren, who called for a “crackdown on environmentally wasteful cryptocurrencies” that use energy to solve “complex and pointless math problems.”
Dorsey, who sidestepped so-called altcoins like Ethereum and Musk’s pet project’s dogecoin in favor of Bitcoin, last year added about 8,000 Bitcoin, at the time worth $170 million, to Square’s coffers.
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Jack Dorsey, the CEO of Twitter who also leads the payments company Square, spoke at Bitcoin 2021… [+] conference last week.
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Dorsey has repeatedly endorsed bitcoin over recent years, going so far as to claim that bitcoin has the potential to become the world’s only currency by 2030 in a 2018 interview with The Times of London, and assuming the role of chief supporter of bitcoin. That Tesla’s Elon Musk has apparently given up on him.
Last week, Musk appeared to distance himself from bitcoin after backing off Tesla’s support for bitcoin over environmental concerns in May and posting a series of somewhat sarcastic dogecoin memes.
“I largely agree with Vitalik,” Musk posted on Twitter, in response to an extensive YouTube interview with Ethereum founder Vitalik Buterin by AI researcher and podcaster Lex Friedman.
In the interview with the actual leader of Ethereum, Friedman asked if Dogecoin could be upgraded to “beat Bitcoin,” as Musk had previously suggested — with Buterin saying: “If the Doge somehow wanted to connect with Ethereum then people could trade Doji thousands of times in The second… That would be amazing.”
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