Reasons Why 'Doji Father', 'Bitcoin Evangelist', and 'Donnamu Unni' Gather [Correspondent Diary]

Bitcoin Event 'The B Word' Preview
Jack Dorsey and Elon Musk to Debate, Cathie Wood Scheduled for Keynote Speech
Focus on Cryptocurrency Rebound and Turning Point

Elon Musk [Photo by Reuters Yonhap News]

[Asia Economy New York=Special Correspondent Baek Jong-min] A 'big event' on the scale of a massive rock festival is anticipated in the cryptocurrency and Bitcoin ecosystem.

It is a showdown between 'DogeFather' Elon Musk, CEO of Tesla, and 'Bitcoin evangelist' Jack Dorsey, CEO of Twitter. Attention is focused on whether the clash between these two most influential figures in cryptocurrency will reignite the crypto flame or extinguish it.

The stage is set for the 'The B Word' event to be held on July 21. The event was announced through Dorsey. On the 24th, Dorsey announced 'The B Word' event on his Twitter account. The event was planned with the purpose of providing Bitcoin information to cryptocurrency investors and further promoting Bitcoin usage. It is hosted by the Crypto Council for Innovation, led by industry leaders, and sponsored by Ark Investment Management, Square, and Paradigm.

While the duel between the two is already a hot topic, with 'Money Tree Sister' Cathie Wood, CEO of Ark Investment Management, also appearing, this event is expected to become the 'Woodstock Rock Festival' of Bitcoin and cryptocurrency. The three are essentially the 'dream team' in the cryptocurrency field.

At this event, Dorsey and Wood will deliver keynote speeches. In rock festival terms, they are the 'headliners' of the event.

Both expressed high expectations when announcing the event.

Wood stated, "I am proud to co-host The B Word. As the next generation of adopters embraces Bitcoin, we believe stakeholders must play an active role in supporting and maintaining the network."

Jack Dorsey Photo by Reuters

In other words, pioneers like herself must take an active role in expanding Bitcoin.

Dorsey also mentioned, "There are long-term benefits only if we better understand how to help the (Bitcoin) community thrive."

Musk was not invited to this event but became a surprise 'headliner.'

When Dorsey posted a somewhat sarcastic comment on Musk's promotion of 'The B Word,' he proposed a discussion: "Let's have a conversation at the event. You can ask all your questions about (Bitcoin)." Musk responded, "Sounds good. Let's do it," completing the 'dream team.'

The showdown between the two could serve as an opportunity to resolve conflicts surrounding Bitcoin. Matt Huang, co-founder of cryptocurrency investment firm Paradigm, argued that "The B Word should be an opportunity to clear up misunderstandings about cryptocurrency."

Cathie Wood

Cryptocurrency investors have experienced heaven and hell in the first half of this year. After a crash, cryptocurrencies must now resolve the question of whether they will enter another dark age or become the foundation of the next-generation financial and monetary system through a rebound.

Perhaps The B Word event will serve as a proving ground to show the future of cryptocurrency. However, if Musk approaches it with the same unserious attitude he showed on SNL, the situation could be different.

If he remembers the backlash from SNL, he should now engage in a more serious discussion about the future of Bitcoin and Dogecoin instead of making ambiguous statements on Twitter.

Another point of interest is Ark Investment Management’s Wood, a major Tesla shareholder, participating in this event. If Musk attacks Bitcoin and its price falls, Tesla’s profits and stock price will be affected. If Tesla’s stock price drops, Ark Investment Management will suffer losses. Ark has recently increased its cryptocurrency-related investments aggressively amid the Bitcoin crash.

Since Musk’s appearance on 'Saturday Night Live' (SNL) triggered Dogecoin’s peak and subsequent sharp decline, burdening the entire cryptocurrency market, there is intense interest in how this discussion will impact cryptocurrency prices.

The economic media outlet Fortune also evaluated that cryptocurrency investors will be enthusiastic about the event in July.

However, as with the previous SNL case, excitement should be tempered. It is now time for serious reflection on Bitcoin and cryptocurrency. Rather than simply using the event for investment, more attention should be paid to whether it can provide answers that meet the expectations of investors and regulatory authorities.