The $2.5M Dollar Tweet
Yeah, I am confused too
Summary
A Tweet From 2006 is Currently Being Auctioned At $2.5 Million
Jack Dorsey Acknowledges Interest in the Ethereum Project
Bullish Signal for the Price of Ethereum (ETH) Over The Next Month
Background
Bitcoiners,
On March 5th, 2021, Jack Dorsey, Founder of both Twitter and Square, brought attention to an auction of his first tweet from 2006. The current bid is set at $2.5 million dollars.
Huh? What do you mean “an auction of his first tweet"?
Well, users of Twitter can now authenticate their original tweets and list them for sale on a website called Valuables. Valuables is an Ethereum-based platform that enables the sale of digitally verified assets, such as a tweet.
I am not going to dive into why someone would want to buy a digital signed copy of anything on the internet, but for now, you should know it is a new fad. Think of it as why would someone pay more than $50 billion dollars for the original Mona Lisa painting, when you can get a replica for less than $100.
There is nothing like the original piece of artwork.
Quick Story
I have been looking up to Jack Dorsey for years now. Twitter is a massive social media company in competition with platforms such as Facebook. I look up to Jack because he built twitter over a decade ago, then built up Square, a massive financial payment company. Jack is a true entrepreneur.
More importantly, I admire Jack because he pledged to give away most of the money he made in his life to help those in need. Jack has a moral compass unlike anyone else in the position of CEO.
Why is this Important?
Jack Dorsey is well known for being an advocate of Bitcoin. Jack’s acknowledgement of this auction now shows he is interested in Ethereum, the second largest cryptocurrency after Bitcoin.
Ethereum currently has a market capitalization of $190 billion, while Bitcoin’s market capitalization is around $1 trillion, which Hoodie Crypto wrote about recently in a previous article.
Bitcoin is clearly the king in the Crypto realm, however, Jack Dorsey’s recent interest in Ethereum could lead to some short term price appreciation for ETH. I am keeping my eyes on the price of Ethereum over these next few weeks.
Happy Saturday,
-Pod
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Eric Podwojski
Founder, Bitcoin EDU
Twitter: @epodrulz