The executive director of Square, Jack Dorsey, said on Friday that the payment processing company will ‘always work’ to improve the bitcoin.
The bitcoin changes everything “for the better,” Dorsey said in a tweet in an apparent response to Square’s chief financial officer, Amrita Ahuja, who said the company’s strategy with the cryptocurrency has not changed.
Financial News had previously quoted Ahuja as saying that Square had halted its bitcoin purchases following a $ 200 million loss in the cryptocurrency in the last quarter.
Dorsey, who is also CEO of Twittersaid in a follow-up tweet that he agreed with the premise that no person or institution could change or stop the cryptocurrency.
Yes, and I agree: no single person (or institution) will be able to change it, or stop it.
– jack (@jack) May 14, 2021
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Another controversy over the cryptocurrency was generated in recent days, as Elon Musk, CEO of Tesla, reported that the company will stop receiving payments with bitcoins because of environmental concerns.
“We are concerned about the rapid increase in the use of fossil fuels for minting and transactions with bitcoins, especially coal, whose emissions are the worst of any fuel,” he said in Twitter.
The price of bitcoin fell about 5 percent to $ 51,847 after tweets from Musk. Shares of Tesla, which specified that it will not sell any of the bitcoins it owns, closed this Wednesday with a loss of 4.4 percent.
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