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Elon Musk, Jack Dorsey and others are promoting Bitcoin! Are Bitcoin markets mature enough for that?

By qsyal | qsyal | 1 Feb 2021


Day by day the number of Bitcoin supporters from all over the world grows.
Gone are the days when it was viewed as magic internet money that's mostly used by drug dealers and fiends. It's now a well-respected asset that's able to attract investments from corporate and individual spaces...
It's able to get praise from the most high-profile personalities around the world...
Slowly but surely, mass adoption is becoming reality...




Elon Musk:

Unless you're living under a rock, you certainly already know how Elon Musk is. This is the guy who is working day and night to change the world we are living in.
He is leading a lot of jobs to achieve what was once thought impossible to achieve.
During his life, he moves smoothly among electric cars, financial services, colonizing Mars with missiles that can be used multiple times, fighting global warming, solving traffic congestion, integrating the human brain with artificial intelligence, and finally digging tunnels to solve the traffic crisis.
He is the inspiration for many young people today and considered one of the most successful businessmen in the world...
Just last year, he entered into 2020 with only 20 billion dollars and was barely a member of the world's top 50 richest people list, but today he is competing with Jeff Bezos for the title of the richest man in the world with a wealth of about 185 billion dollars.
He is not shy about announcing his ambitious goals and projects that interest him, and it seems that one of these projects that have sparked his enthusiasm recently was Bitcoin.
Two days ago, Elon Musk with all his enormous influence and wide fame promoted Bitcoin changing his Twitter account's BIO to"Bitcoin"
This change was more than enough to cause bitcoin's price to surge by up to% 20 before it came back to its previous price again.
Now, honestly talking, I don't like this type of fast bumps in bitcoin's price since it often causes sudden dumps following it. However, I'm fascinated with the fact that bitcoin has been able to draw the attention of high profile personalities around the world.



Twitter founder Jack Dorsey

Twitter Chief Executive Jack Dorsey has the same bio as Musk and most importantly, this man is franker when it comes to vocally support bitcoin. Just a few days ago he showed his passion for Bitcoin saying:

The reason I have so much passion for #Bitcoin is largely because of the model it demonstrates: a foundational internet technology that is not controlled or influenced by any single individual or entity. This is what the internet wants to be, and over time, more of it will be.
Jack Dorsey- January 14, 2021





Some YouTubers are joining the party:

After Elon Musk and Jack, the infection began to spread, as the famous YouTuber Jimmy Donaldson who is widely known for doing exciting and expensive jobs, often for charity, the owner of the Mr Beast channel (with over 52 million subscribers), put the Bitcoin logo in the BIO of his account.



Final thoughts:

I'm of course so excited about what is going with bitcoin and it seems that we are on the right way to mass adoption.
I'm sure that getting support from high respected personalities around the world will push Bitcoin forward and increase the chance for further adoption from individual and institutional spaces alike.

On the one hand, I am a bit concerned that such over-promotion could lead to unwanted attention from governments and regulators who understand nothing about Bitcoin other than being a "virtual currency ".
And frankly, I'm also a little worried that it could cause a crazy bump following by a crazier crash, exactly similar to the 2017-2018 scenario.

What do guys think about this high promotion from Elon Musk and others?
Do you think that Bitcoin markets are mature enough for that?
I'm keen to know your opinions and thoughts...


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