Former Twitter CEO and long-time Bitcoin advocate Jack Dorsey sparked fresh debate in the cryptosphere this week. In response to a tweet asking him if he believed Ethereum (ETH) was a security, he tweeted, “Yes.”
— jack (@jack) June 6, 2023
The Twitter user raised the initial question in response to Jack’s other tweet, where he shared a screenshot of a 2015 post from Coinbase CEO Brian Armstrong, which suggests Coinbase should focus on Bitcoin and referred to all altcoins as “distraction.”
— jack (@jack) June 6, 2023
Tesla CEO and Dogecoin Evangelist Elon Musk also weighed in on the debate to promote his favorite memecoin Doge. Bitcoin Ordinals developer Udi Wertheimer lashed out against Jack and called him a “clown.”
Jack later accentuated his pro-Bitcoin stance by retweeting a video of Jack Mallers reprimanding Brian Armstrong’s business model for Coinbase. The online altercation comes in the wake of the SEC’s latest lawsuit against Binance and Coinbase this week.
Many experts have chimed in with their thoughts on the matter. One such comment came from Pierre Rochard, vice president of research at Riot Platform, on Bitcoin maximalism.
It's understandable why some might perceive #Bitcoin maximalism as cult-like due to the community's staunch conviction in Bitcoin's potential. However, this is a misconception primarily based on misunderstanding the principles that underpin Bitcoin maximalism.
Bitcoin maximalism…
— Pierre Rochard (@BitcoinPierre) June 7, 2023
Dorsey has been a longstanding supporter of Bitcoin and made similar comments in an online discussion in 2021.
