The B Word conversation with Elon, Cathie, and Jack was a gathering of fantastically talented, diverse, forward-thinking, pro-ESG, creative, and economically grounded minds. It was intensely interesting from many angles and engaged each of them from their different expert perspectives. Elon Musk announces personal and Space X crypto holdings. Cathie Wood clears up some misconceptions around BTC and backs her points with solid economic principles and experiential learnings. Jack Dorsey speaks to his socially and environmentally conscious BTC objectives for Square and Twitter, beliefs, and vision for this historically unmatched form of value exchange. Despite what the markets are showing us presently "the Internets native currency" continues to grow and adapt, illuminating emerging fundamental benefits. Great thinkers like this are helping to amplify Bitcoins growth and benefit to humanity, by exploring these creative and innovative ideas to make it more sustainable and productive.
Elons flat humor persists throughout the conversation, but he is quite clear about his support for, and obvious commitment to many root positive aspects of decentralized value exchange. Our very favorite statement in this interview comes from Elon when he tried to clear the air saying, "I might pump, but I dont dump". This expression seemed a responsible acknowledgment of his crypto common sense and his important influence on crypto price swings. He reinforced his personal and business interests in crypto, and how influencing the price negatively makes no sense for him. He identifies the possible role that Teslas solar division can play in the renewable future of crypto mining, a pretty obvious interest, and motivation.
Elon explains how his retraction of Tesla accepting Bitcoin was related to the sudden surge in cryptos popularity and price caused by his prior announcements surrounding accepting it. Recognizing that a sudden surge in mining transactions could not be solely supported by existing renewables powering the Bitcoin network, and how that fact reflected on a company whose main goal is a cleaner future. With Chinas help, Bitcoin is now above Elons acceptance levels, and he stated that Tesla was conducting "a little more diligence" in investigating before they would "most likely" again accept Bitcoin transactions. All good news and sentiment from Elon.
Cathie Wood is a credible crypto hero that we appreciate a great deal. She is engaging and intelligent, citing Bitcoin economic principles and core strengths in a way that can make sense to anyone. During this conversation Cathie directs Elons attention to the positive influence Bitcoin is having on innovation in, and adoption of renewables. Also interesting is Cathies recognition that the energy used for Bitcoin production will be more efficient when compared to the energy used by the traditional financial services sector, or traditional gold mining facilities, two worthy comparisons. She comments that in her experience many people in Bitcoin development are extremely committed, and have a superior understanding of economics and economic history, a fact that gives her great comfort.
Jack Dorsey comes in to remind us all that Bitcoin is a problem-solving technological innovation that is well worthy of our energy investment, an important point to remember. Jack seems focused on exploring the limits of energy efficiencies, commenting on wasted energy and untapped energy. He referenced an example of capping methane flares from oil production to run mining rigs, neato. These are the innovative ideas that will become solutions as renewable research and adoption become increasingly powered by the profit motivations behind Bitcoin mining. Jack spoke about Square wallet projects and user benefits, insinuating that further crypto adoption news could be on the horizon for Twitter.
In summary, the interview denounced and addressed many misunderstandings about Bitcoin. It spoke to many of the factors that make bitcoin such a great direction for us all to go in. The interview was insightful, news breaking, and could give the crypto market the sentiment change it so desperately needs right now. All via the statement and recognition of obvious Bitcoin truths & potential rollout benefits.