It’s no secret that Elon Musk, the boss of Tesla and SpaceX, and Jack Dorsey, the CEO of Twitter, support that cryptocurrencies are compared with traditional “fiat” currencies. But their brotherhood is now becoming more and more obvious on public platforms. They recently discussed the future of Bitcoin at a virtual conference and praised its potential to change the monetary system. Now, Mr. Musk responded to a mysterious one-word tweet from Dorsey. The Twitter CEO just said “encryption”, which may indicate that he prefers to use more popular terms such as “currency” and “money”, and Mr. Musk replied that this is also his “secure word.”
It seems that both of them would rather use the shorter term “encryption” than cryptocurrency. These two great technical managers have a long history of mutual admiration, but they have only blossomed over the years. At a 2016 trade show, Mr. Dorsey publicly praised Mr. Musk and said that he had been talking about what his company was doing with electric vehicles. Mr. Musk uses Twitter extensively.
In January 2020, Mr. Dorsey asked Mr. Musk for “feedback” on improving Twitter. The Tesla CEO stated that it would be helpful to be able to distinguish fake users from real users.
Two months later, when a hedge fund activist with shares in Twitter tried to oust Dorsey from his post as CEO of the Weibo website, Mr. Musk defended him.
In July of this year, they gathered to discuss the future of Bitcoin. Following climate concerns about the energy consumption of Bitcoin mining, Mr. Musk had previously supported Dogecoin. Mr. Dorsey supports Bitcoin.