More Faithful Than Musk, Twitter Founder Is Stepping In To Save Bitcoin

The real “believer” is the one who refuses to lie flat under the collapse trend.

More Faithful Than Musk, Twitter Founder Is Stepping In To Save Bitcoin

The cryptocurrency world, which has been buzzing with drums for some time now, has suddenly gone off the boil.

Since May, whether it’s mainstream bitcoin, ethereum, or non-mainstream dog coin, shi coin all took a big dive, hundreds of thousands of people instantly burst their positions, major digital currency exchanges were down, tens of billions of dollars were lost in a flash, and this bloodbath has continued until today.

With the bloodshed in the cryptocurrency world, speculators are fleeing in large numbers, the wind of the digital currency bull market is dying down, people who are bullish on bitcoin to $100,000 are nowhere to be seen, and the cryptocurrency leader Musk has a bit of a “mutiny” taste. In the last few days, even “over-the-top” internet celebrity Donald Trump has come to the forefront, denouncing bitcoin as a scam.

Although it’s a scene of rats falling from a sinking ship, there are still a group of bitcoin believers who are fighting hard. The most notable of these is Jack Dorsey, the legendary Silicon Valley entrepreneur and founder of Twitter and Square. In the midst of market turmoil, the “heavyweight” Silicon Valley bigwig is still holding the Bitcoin banner high, choosing to stand firm with the believers.

Bitcoin’s Strongest Supporters
It was the hottest time of the year in Miami in June, but even the 35-degree heat couldn’t dampen the enthusiasm of Bitcoin believers. Jack Dorsey was among the 12,000 Bitcoin supporters from around the world who met at this year’s Bitcoin Conference to discuss the present and future of Bitcoin.

“Bitcoin has absolutely changed everything. For me, Bitcoin is not just an investment, it’s the most important cause I’ll pursue for the rest of my life, and I could give up my jobs at Twitter and Square and save all my energy and time for Bitcoin if I had to.” When Jack Dorsey, wearing a flowery shirt, beard and legs, said this, he became a “bitcoin angel” in the eyes of the audience.

In fact, Jack Dorsey has been a “bitcoin maximalist” for years, a name that refers to people who believe that bitcoin is the only way to change the future of the financial system. It is important to note that they believe in bitcoin only, and do not include other digital currencies such as ethereum, litecoin, or dogcoin.

More Faithful Than Musk, Twitter Founder Is Stepping In To Save Bitcoin

This group also often uses the term HOLD, which stands for hold on for dear life and represents their expectation for Bitcoin to change the world. Simply put, they are not speculators, but more like defenders, and Jack Dorsey is definitely one of the leading figures.

Since 2015, his public stance on Bitcoin has been basically a strong pro-right attitude to the end. He has said that the Bitcoin white paper is as beautiful as poetry, calling it one of the most important pieces of work to emerge in computer science in the last 30 years, he thinks Bitcoin will be the single global currency within 10 years, and at this conference, he re-emphasized that Bitcoin will be the only option to change the traditional financial system.

Jack Dorsey’s love for Bitcoin doesn’t stop at just talking about it.

In order to promote bitcoin compliant transactions, Square was able to support bitcoin purchases starting back in 2014. To promote bitcoin globally, he started a fund called ₿trust with famous American rapper Jay Z to encourage bitcoin development in Africa and India. To address the energy consumption and pollution issues that Bitcoin is always criticized for, he has also invested $10 million in the Bitcoin Clean Energy Initiative to promote greener mining methods.

And while Facebook and Youtube have previously shied away from cryptocurrencies amidst the digital currency regulation fiasco, only Twitter has always reported an open attitude towards digital currencies and even developed an exclusive emoji for Bitcoin.

In March of this year, Jack Dorsey in with Pi Chai, Zuckerberg to participate in the online hearing debate, his home placed the bitcoin clock accidentally burst out of the circle, the clock called BlockClock mini designed specifically for bitcoin, can always display the price of bitcoin, miners released blocks can also Wi-Fi link digital wallet to view the balance.

The supporters are flirting with the idea that the brother is not looking at time, but at the future.

More Faithful Than Musk, Twitter Founder Is Stepping In To Save Bitcoin

The Bitcoin clock in Jack Dorsey’s home, image taken from a web video

More “dedicated” than Musk
As they say, “the day is long, the day is young, the day is hard. Many people who previously thought of Musk as the leader of Bitcoin have realized that they were in the wrong place, and that the bearded Jack Dorsey is the real leader of Bitcoin.

Jack Dorsey is no less important than Musk when it comes to his role in Silicon Valley and the tech world, and was once called “Steve Jobs II” and considered to be the most Steve Jobs-like person in Silicon Valley.

He is a genius, quiet and introverted, but he taught himself programming since he was young and started working as a programmer at the age of 15, and founded Twitter and Square, which changed the way the world exchanged information and brought the revolution of commercial payment respectively. He is an art control, once studied violin, illustration, clothing design, obsessed with aesthetic design and detail construction. At the same time, he is also an eccentric, eating only one meal a day, insisting on meditation for twenty years, nose ring, tattoo, beard have been his maverick label.

More Faithful Than Musk, Twitter Founder Is Stepping In To Save Bitcoin

Jack Dorsey over the years, photo courtesy of Silicon Star

There are many sides to Jack Dorsey, and his style has always been difficult to figure out, but one of his main characteristics is that once he decides on something, he loves it intensely, and that’s the case with Bitcoin. Unlike Musk, who often “gets high” and then backtracks, Jack Dorsey is very dedicated to bitcoin, whether it’s a bear market or a bull market, and he’s always been consistent.

And it’s safe to say that almost everything Musk has played with this year regarding bitcoin is what he has left to play with.

For example, Musk briefly changed his Twitter profile to bitcoin in January of this year, driving the cryptocurrency’s price to instantly soar $6,000, while Jack Dorsey changed his Twitter profile to bitcoin back in April 2020, and instead of running away after driving bitcoin higher, he kept the profile until to this day.

More Faithful Than Musk, Twitter Founder Is Stepping In To Save Bitcoin

Image taken from Jack Dorsey’s personal Twitter page on June 9, 2021

Then again, Musk announced in February this year that Tesla had invested $1.5 billion in Bitcoin, while Jack Dorsey has had Square continuously investing in Bitcoin since last October and supporting Bitcoin purchase transactions through Square’s Cash APP, opening the way for compliance funds to enter.

And when Musk was slamming Bitcoin for consuming energy and implicitly implying that Tesla was going to break up with Bitcoin, he immediately came out with a vocal counterattack, tweeting in defense of Bitcoin, arguing that Bitcoin mining would instead accelerate the pace of global energy transition to renewable energy.

More Faithful Than Musk, Twitter Founder Is Stepping In To Save Bitcoin

Image taken from Twitter

Compared to Musk’s “scumbag” approach, which has seen him go from being a big advocate to a disavowed man, Jack Dorsey is obviously much more dedicated to bitcoin. Some users even teased that if you ever find someone who loves you as much as Jack Dorsey loves Bitcoin, you should marry them…

More Faithful Than Musk, Twitter Founder Is Stepping In To Save Bitcoin

Photo taken from Twitter

A true “activist”
Over the years, from advocacy to investment, from funds to communities, Jack Dorsey has put his heart and soul into bitcoin, and he’s going to continue to do so.

In 2018, Square first opened up the ability to buy and trade bitcoin through its app Cash app, which didn’t get much traction at the time because bitcoin was at a low point. But over the past two years, as the digital currency market has boomed, bitcoin transactions have surged and have become the most important part of the Cash app’s business.

Recently, Jack Dorsey tweeted that Square will build a hardware wallet designed specifically for bitcoin, aiming to give consumers greater control over the cryptocurrency they own. This wallet will feature bitcoins held by users that will not be controlled by Square or any other company, and will be more like the physical wallets we use in our daily lives, with the ability to access them as we go, and the parts we don’t use safely in our possession.

The reason for developing this wallet is that he wants to make bitcoin transactions and storage easier and closer to everyday people’s lives. He’s also considering integrating the wallet with his phone and developing it with the community in an open-source way for both software and hardware.

“We don’t want to compete with those hardware wallets, we just want to take bitcoin trading to a new level and benefit more people.”

In fact, it’s always been Jack Dorsey’s goal to make bitcoin more accessible to the average person. He has invested in Celo, a company exploring the use of phone numbers as public keys, aiming to introduce cryptocurrency transactions to billions of smartphone users around the world. He has also invested in Coinlist, a platform that helps fund and sell digital currency flat, aiming to expand to build communities and advance digital currency transactions.

And Square, in addition to supporting bitcoin trading and investing in bitcoin, founded a separate team called Square Crypto in 2019 to focus on bitcoin open source efforts and funding the development of bitcoin projects. Last September, Square also formed the Cryptocurrency Open Patent Alliance (COPA), in which members must pledge to make their patents freely available to all members, with the aim of clearing patent hurdles on the path to blockchain innovation.

Outside of Bitcoin, while Jack Dorsey has little interest in other digital currencies, he is fascinated by the expansion and transformation of blockchain-related technologies, believing that blockchain is a great technology to be unlocked.

In March, he sold his first tweet from Twitter 15 years ago for a whopping $2.755 million in NFT, which he converted into bitcoin and donated to GiveDirectly, an African charity foundation. standards that would decentralize what is now a highly centralized platform.

Now, as Jack Dorsey’s ties to bitcoin and blockchain grow deeper, there are many who worry that his heart is in the wrong hands and that bitcoin will not grow the way he wants it to, but will eventually dissipate like a bubble.

But for Jack Dorsey, no matter how it ends, a “loved” sentence may be enough.

Posted by:CoinYuppie,Reprinted with attribution to:
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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