Jack Dorsey Endorses Elon Musk's Bitcoin Stance with a Simple "Yes"

Jack Dorsey, co-founder of Twitter and Block, has responded to Elon Musk's endorsement of Bitcoin with a single word: "yes." Dorsey has long been a proponent of Bitcoin and has even created Bitcoin-friendly products through Block, including a wallet, hardware wallet, and mining system. Musk had previously invested $1.5 billion in Bitcoin and accepted it as payment for Tesla products, but later abandoned the practice due to environmental concerns.

In a recent exchange on Twitter, Jack Dorsey, co-founder of Twitter and Block, Inc., responded to Elon Musk's endorsement of Bitcoin with a single word: "yes." Dorsey's response has sparked renewed speculation about the future of Bitcoin and its role in the global financial landscape.

Elon Musk, CEO of Tesla and SpaceX, had previously invested $1.5 billion in Bitcoin in early 2021 and accepted it as payment for Tesla products. However, he abandoned the practice later due to environmental concerns over Bitcoin's energy-intensive mining process. Despite this, Musk's recent comments have indicated a potential shift in his stance on Bitcoin.

In a brief but telling exchange on Twitter, Musk agreed with a post suggesting that Bitcoin’s rise is tied to the global shift toward energy-driven value creation. Dorsey's response, a simple "yes," has been interpreted as a sign of his continued support for Bitcoin. This is not surprising, given Dorsey's long history as a Bitcoin advocate and his role in creating Bitcoin-friendly products through Block, Inc.

Block, Inc., which Dorsey co-founded in 2009, offers a suite of Bitcoin-friendly products, including a wallet, a self-custody hardware wallet, and a Bitcoin mining system. The company's inclusion in the S&P 500 index in mid-July 2025 further underscores its commitment to the cryptocurrency.

Dorsey has predicted that Bitcoin's total market value will surpass $20 trillion by 2030, which could drive its price up to at least $1 million. His views align with those of Musk, who has previously acknowledged Bitcoin's potential but has been cautious about its environmental impact.

Despite the recent exchange, it remains to be seen whether Musk's renewed interest in Bitcoin will translate into concrete action. Tesla still holds approximately 11,509 BTC, worth $1.27 billion at current market prices, but Musk has not confirmed any changes to the company's crypto strategy.

In conclusion, Dorsey's response to Musk's endorsement of Bitcoin has reignited speculation about the cryptocurrency's future. While it is too early to predict any significant changes, the renewed attention from these tech giants could have a meaningful impact on the crypto market.