Elon Musk Explains Why He Is “Pro Doge,” Stepping into Jack Dorsey’s Web3 Debate

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Yuri molchan

The CEO of Tesla has weighed in on the debate started by Jack Dorsey regarding Web3 and decentralization; Musk mentioned Dogecoin again, opposing it to Bitcoin and Web3

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Elon Musk has joined the debate in a recent anti-Jack Dorsey tweet thread started by Farokh Sarmad, founder of Rug Radio, entrepreneur, and crypto punk (per his Twitter bio). The thread is about Web3 technology, and Bitcoin and Ethereum are involved.

Musk agrees that Bitcoin empowers the nouveau riche

Elon Musk seems to agree with Dogecoin co-founder Billy Markus’ tweet about Bitcoin empowering only wealthy people. Tesla’s CEO and most influential Dogecoin fan chimed in to say that this is exactly why he supports DOGE.

Several times in the past, he has stated that DOGE is the “people’s cryptocurrency”.

Earlier, U.Today covered that Musk has already attacked Web3, calling it “BS,” suggesting that it may not be as groundbreaking as investors and the general public anticipated.

Jack Dorsey criticizes Ethereum as a form of corporate establishment

Earlier this week Dorsey, the founder of Twitter and its former CEO, criticized Web3 technology as owned by Silicon Valley venture capitalists and therefore centralized. Dorsey is known to be a Bitcoin maxi, representing the decentralization of the web and new technologies.

He confirmed this in the aforementioned thread, replying to Farokh Sarmad and mentioning Ethereum. First, Jack denied being anti-ETH, tweeting that he is only against centralization and “the only point of failure owned by VC and company-controlled lies.”

However, after that, he stated that Ethereum is not against “establishment” and suggested looking at its fundamentals rather than taking his word for it. Hence, it has again pitted Bitcoin and Ethereum against each other.


Source: https://u.today/elon-musk-explains-why-he-is-pro-doge-stepping-into-jack-dorseys-web3-debate

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