Billionaires have often put in their opinion about financial topics online; after all, they’re pretty good at making money. When it comes to Bitcoin, this sharing of views couldn’t be more accurate; for example, billionaires like Elon Musk have been highly vocal about Bitcoin. And despite his ups and downs with the crypto industry, primarily caused by his concerns over its effect on the environment – it’s safe to say Elon is interested in Bitcoin. But he’s not the only billionaire on the block looking into the crypto; another one is lesser known yet nonetheless rich: CEO of Twitter Jack Dorsey.
Next month the two will be having a discussion over Bitcoin – sharing their thoughts on it. With such influential voices and Elon’s track record for moving the crypto price, it would be no surprise for the event to affect the price of Bitcoin and other cryptocurrencies. So, what can we expect? To start, Jack and Elon do not see eye to eye on everything related to crypto. On the one hand, Jack Dorsey has been a prominent proponent of Bitcoin and is a supporter of the Lightning Network, a solution designed to make the Bitcoin network faster. On the other hand, Elon Musk not only has a much rockier relationship with the crypto (underscored when Tesla stopped accepting bitcoin before reverting that decision), but he also supports a variety of altcoins and not just Bitcoin. So far, this event could already be partially factored into the prices of the cryptos.
Yesterday, Bitcoin’s price moved up by 4.5%, and it is traded above $34k. What do you think about the meeting? And will you be investing in Bitcoin or any other cryptos soon?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.