Three bitcoin bulls in a (virtual) room – Axios

Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what’s new and why it matters in just 5 minutes.

Catch up on the day’s biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Get the inside stories

Get an insider’s guide to the new White House with Axios Sneak Peek. Sign up for free.

Axios on your phone

Get breaking news and scoops on the go with the Axios app.

Download for free.

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

From top left, clockwise: Steve Lee, lead for Square Crypto, moderates a live conversation with Cathie Wood, Jack Dorsey and Elon Musk. Credit: The B Word

For a little over an hour on Wednesday, ARK Invest CEO and CIO Cathie Wood, Twitter and Square CEO Jack Dorsey, and Tesla and SpaceX CEO Elon Musk laid out their main hopes for decentralized cryptocurrencies: world peace and improving individual lives.

Why it matters: Global scrutiny toward cryptocurrency exchanges and mining has grown. Proponents are trying to draw strength in numbers.

  • The price of bitcoin has fallen by more than 50% since April, dropping below $30,000 on Monday. It rose today.

What they’re saying: “My hope for crypto, in general, is that it can improve [the] core efficiency of money [to have] less error, any government interference or fraud,” Musk said during the talk.

  • “My hope is that [bitcoin] helps create world peace,” Dorsey said.

Be smart: All three participants are vocal about their views toward cryptocurrency on Twitter and what they say can move prices.

  • Coming together now with the backing of their respective companies shows a new level of public lobbying that some view as an attempt to rescue bitcoin.