With Elon Musk staying out of the crypto market, it might seem like the Bitcoin community will have fewer issues to deal with, but that’s not the case today. Instead, perhaps everyone should step up to keep the billionaire informed about Bitcoin’s current energy consumption situation.
Jack Dorsey wants to connect with Musk via Bitcoin
Jack Dorsey, a well-known Bitcoin advocate, shared a link to the “B word” community, which he describes as “the Bitcoin development community above everything else.”
As he explained, the community is focused on informing about Bitcoin.
Jack Dorsey: “As more companies and institutions enter the community, we all want to develop Bitcoin transparently and help protect and spread what makes it great. Education today is taking action to do just that.” said.
The tweet caught the attention of Elon Musk. Dorsey then went on to clarify what he meant: “Let’s you and I talk at the event. You can share all your curiosity”.
Bitcoin market could benefit from this conversation
If Musk agrees to participate, it could be partially good for the community, which has been hurt by the long-term bear market triggered by Musk’s comments about Bitcoin.
While the billionaire has suspended tweeting about Bitcoin after getting a lot of backlash, his recent conversation with Microstrategy’s Michael Saylor, who had previously denounced Musk’s view of Bitcoin, hints that the community isn’t exactly at odds with him.
While many believe that the Bitcoin market has benefited from Musk’s tweets, Musk’s views on Bitcoin still negatively affect institutions that are wary of environmentally damaging technologies.
In addition, Musk states that the longer the bull lasts in Bitcoin, the greater the chance of BTC becoming a universally accepted currency. Also, if Musk uses Bitcoin on Mars, the world can gradually witness how Bitcoin transforms a different economy without paper money.
Elon Musk and Bitcoin
Elon Musk’s relationship with Bitcoin has been unusual over the years. There was a relationship that could be called a “love and hate” relationship.
Of course, Musk sees the value in digital currencies like Bitcoin. Musk previously said “paper money is going”, hinting at the future of digital currencies.
However, it seems that energy consumption will play a big role in deciding which cryptocurrency is here to stay, and Musk is placing his bet on Dogecoin. Some are looking at Cardano (ADA), which they still believe is promising. For many, like Jack Dorsey, Bitcoin remains the most valuable.