Everything You Need to Know About Elon, Jack and Cathie’s Bitcoin Chat

<p><span style="font-weight: 400;">On this episode of “The Breakdown,” host NLW dissects a highly-anticipated discussion between Cathie Wood, Jack Dorsey and Elon Musk at yesterday’s “The B Word” conference, including:</span></p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Wood’s predictions of deflation rather than inflation</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Dorsey’s unwavering belief in bitcoin as the internet’s native money</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Musk reveals he, Tesla, and SpaceX all hold bitcoin</span></li> </ul> <p><span style="font-weight: 400;">Wood, one of the earliest Wall Street investors to get into crypto, has been through enough market cycles to have a nuanced understanding of the space. She revived one of her long-standing themes of Bitcoin’s rules-based monetary policy, especially relevant now as central banks operate on unbounded monetary policy. She also touched on recent inflationary concerns, specifically ARK’s belief that deflationary concerns are likely to emerge in the long-term.</span></p> <p><span style="font-weight: 400;">Twitter and Square CEO Dorsey has been a consistent ally to Bitcoin. Dorsey highlighted a few of his projects dedicated to a more decentralized future, including Square’s upcoming self-custody hardware wallet and Bluesky, a project to develop an open and decentralized social media platform. </span></p> <p><span style="font-weight: 400;">The controversial Musk's contributions to the discussion garnered mixed reactions from the community. Most notably was his admission that outside of Tesla and SpaceX shares, bitcoin is his biggest investment. Additionally, his now-famous statement  “I pump but I don’t dump” was backed by his revelation that SpaceX, in addition to Tesla, held BTC. He affirmed the three have never sold their BTC holdings.</span></p> <p><span style="font-weight: 400;">While Wood recruits institutio