Elon Musk, the Tesla billionaire who has adopted the somewhat satirical bitcoin rival dogecoin as his pet project, has again sent the memecoin sharply higher.
The bitcoin price was largely unmoved following Musk’s tongue-in-cheek attack on Twitter chief executive Jack Dorsey’s plan to expand bitcoin awareness among companies and institutions.
However, dogecoin jumped 20% higher as supporters of the doge meme-based cryptocurrency cheered Musk’s latest Twitter intervention.
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Telsa billionaire Elon Musk has helped the dogecoin price surged into the cryptocurrency top ten … [+]
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“As more companies and institutions get into the mix, we all want to help protect and spread what makes bitcoin open development so perfect,” Dorsey, who recently told the Bitcoin 2021 conference in Miami that if it wasn’t for Twitter and his payments company Square he would be working on bitcoin full time, posted to Twitter alongside a link to The ₿ Word—a bitcoin-focused online event that says it aims to “demystify and destigmatize mainstream narratives about bitcoin.”
Musk replied to Dorsey asking if the B word stood for “bicurious” before following up with: “Oh right… bitcoin.”
“Let’s you and I have a conversation at the event,” Dorsey replied, suggesting Musk could “share all your curiosities,” but Musk dismissed the invitation, replying: “Lmfao omg.”
The ₿ Word event, scheduled for July 21, will feature Cathie Wood, the chief executive of investment management firm Ark Invest and bitcoin developer Adam Back, the chief executive of Blockstream.
Earlier, Musk asked: “How many bitcoin maxis [who espouse bitcoin and eschew other cryptocurrencies] does it take to screw in a lightbulb?” Musk then accused so-called bitcoin maxis of being po-faced. “‘That’s not funny!’—bitcoin maxis,” he tweeted.
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The dogecoin price jumped 20% following Elon Musk’s tweetstorm but his attack on bitcoin failed to … [+]
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Meanwhile, the dogecoin price soared after Musk replied to dogecoin cofounder Billy Markus who had posted about why he continues to support dogecoin.
“[In my opinion], doge is at its best when it’s funny,” said Markus. “Wanting the future world [or] universe economy to ironically be satirical meme money is a fun story that people can get behind. When people get too serious or militant about it, for me, that ruins its charm. Keep doge fun and absurd.”
Musk responded with the beer glass emoji and posted “#gravitas” in response to a dogecoin meme.
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