Elon Musk, the world’s richest* man, innovator of online payments, and co-founder of PayPal, added Bitcoin to his Twitter profile and tweeted “in retrospect it was inevitable.” When a technology is ten times faster and ten times cheaper, you get the 100x lever you need to unseat existing payment technology.
What also turned out to be inevitable, was the Bitcoin community souring on Elon’s publicity stunts and overall flippant behaviour as he both heavily touted Dogecoin and then provided poorly researched criticisms of Bitcoin’s engineering and technical trade-offs that underpin the network. Tesla had also sold off a portion of it’s Bitcoin holdings in what Elon described as “testing liquidity”.
More recently, the President of El Salvador, Nayib Bukele, made Bitcoin legal tender nearly overnight after making the announcement at Bitcoin Miami that he would send a bill to the legislature. While many are pointing to his autocratic style, the adoption of Bitcoin inevitably continues.