Busta Rhymes attributes his decision to invest to the panel discussion on The B Word that took place yesterday, which included Jack Dorsey, Elon Musk, and Cathie Wood.
The rapper Busta Rhymes has become the latest celebrity to express his support for Bitcoin, the world’s most valuable cryptocurrency by market capitalization. He attributes his decision to Bitcoin to a conversation between Twitter and Square CEO Jack Dorsey and Tesla and SpaceX CEO Elon Musk, in which the two discussed the cryptocurrency.
This morning, Busta Rhymes (real name Trevor Smith Jr.) announced on Twitter that he “officially holds Bitcoin.” He explained that he made the decision “after watching the Bitcoin conference live,” which featured Dorsey, Musk, and ARK Invest co-founder, CEO, and CIO Cathie Wood, among other notable figures.
The B Word, a webcast event hosted by Square, ARK, and venture capital company Paradigm that took place yesterday, is the conference to which he is referring.
After watching the #Bitcoin conference live with @jack @elonmusk @CathieDWood i’m sold on Bitcoin.
officially holding Bitcoin.
Looking into eth next.— Busta Rhymes (@BustaRhymes) July 22, 2021
“I’m sold on it,” Busta wrote of Bitcoin. In a follow-up tweet, he added: “When you have brilliant minds coming together through an unfiltered source. I like that. Speaks directly to me. They all are using it and more importantly holding it.”
Busta Rhymes was the first to tweet about cryptocurrencies on July 14, asking his followers whether they were interested in cryptocurrency. “How are you all doing?” I inquire.
Throughout the week, he continued to tweet about it, even conversing with boxer Mike Tyson about his own cryptocurrency adventures in the process.
At the time, he received responses from major Bitcoin supporters such as Twitter CEO Jack Dorsey and MicroStrategy CEO Michael Saylor, as well as from other crypto personalities.
MY BIGGEST TAKEAWAY WAS THIS…..
The way @elonmusk phrased this statement has got me seriously thinking… especially what’s been happening around the world recently.
Government and it’s monopoly on Violence… damnnn pic.twitter.com/RsX0oSIeLJ— Busta Rhymes (@BustaRhymes) July 22, 2021
Busta Rhymes confirmed today that he has taken the plunge into the world of Bitcoin. And he might not stop there, despite the fact that Dorsey himself is a staunch supporter of Bitcoin.
Busta went on to say, “Looking into ETH next,” in reference to Ethereum, which is the second-largest cryptocurrency by market capitalization.
In addition to the panel discussion involving Dorsey, Musk, and Wood, the most popular part of The B Word was the live streaming conference and educational resource geared for organisations interested in investing in or developing around Bitcoin.
Some feared that the discussion might devolve into a back-and-forth battle, given Dorsey’s increasing passion to Bitcoin and Musk’s recent wavering on support for the coin, following Tesla’s decision in May to stop trading in Bitcoin.
Instead, the conversation remained civil: Dorsey spoke on the potential for Bitcoin to promote “world peace,” and Wood emphasised the cryptocurrency’s attractiveness as a business and investment tool, among other things.
Elon Musk provided additional details on why Tesla temporarily halted its Bitcoin support after investing $1.5 billion in the cryptocurrency earlier this year, and he stated that the company will “most likely” resume Bitcoin transactions following shifts in the company’s business model toward renewable energy.
Musk also announced for the first time that SpaceX has Bitcoin, joining Tesla and Musk’s own personal ownership of the digital currency in his portfolio.
Aside from Bitcoin, he also owns Ethereum and Dogecoin, the latter of which should come as no surprise considering his history of posting Dogecoin jokes, collaborating with Dogecoin developers, and referring to himself as “The Dogefather.”