Twitter and Square chief executive Jack Dorsey said Bitcoin changes "everything" for the better and he will work "forever" to make the crypto work better.
Mr Dorsey expressed his support for the cryptocurrency on his microblogging platform Twitter, in response to a tweet by the Square chief financial officer, Amrita Ahuja.
"Our bitcoin strategy hasn’t changed. We’re deeply committed to this community, including working towards a greener future through our Bitcoin Clean Energy Initiative," Ms Ahuja wrote on Twitter.
Square is a digital payments company founded by the Twitter chief executive and Jim Kelvey and launched in 2020. The company valued at over $100 billion in 2020, is evaluating Bitcoin as an investment opportunity. Square has purchased a total of $220 million Bitcoin to date. Its Bitcoin asset is valued at $410m.
The crypto was trading at $48,523.20 on Saturday and is down 13 per cent over the past five days. Bitcoin plunged after Tesla's billionaire chief executive Elon Musk suspended the use of Bitcoin as a mode of payment for the company's electric vehicles because of "environmental concerns". Prior to Mr Musk's announcement, Tesla had invested $1.5bn in Bitcoin.
Mr Dorsey is part of a growing number of tech chief executives, who have become evangelists for investing in Bitcoin.
Twitter under Mr Dorsey plans to decentralise and launched a non-governmental organisation called Blue Sky to advance its goal.
"Square is doing exactly this for bitcoin with @SqCrypto," Mr Dorsey wrote on his social media channel in 2019.
In March, Mr Dorsey sold his first-ever tweet as a non-fungible token for $2.9m.
NFTs, which are enjoying growing popularity are a type of crypto token that is used to verify the authenticity of ownership. The NFTs are minted in small batches and are not interchangeable. The market for such tokens have taken off in recent months, rising above $250m.
On Thursday, the auction house Sotheby's accepted cryptocurrency as payment for a physical artwork for the first time, selling Banksy's iconic protest painting, Love is in the Air, for $12.9m.
The New York-based dealer teamed up with cryptocurrency platform Coinbase and said it is open to accepting both Bitcoin and Ether – the world’s biggest digital currencies. It did not disclose which cryptocurrency was used in the sale of the Banksy artwork.
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
'My Son'
Director: Christian Carion
Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis
Rating: 2/5
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
The Bio
Favourite place in UAE: Al Rams pearling village
What one book should everyone read: Any book written before electricity was invented. When a writer willingly worked under candlelight, you know he/she had a real passion for their craft
Your favourite type of pearl: All of them. No pearl looks the same and each carries its own unique characteristics, like humans
Best time to swim in the sea: When there is enough light to see beneath the surface
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UAE currency: the story behind the money in your pockets
THE LOWDOWN
Romeo Akbar Walter
Rating: 2/5 stars
Produced by: Dharma Productions, Azure Entertainment
Directed by: Robby Grewal
Cast: John Abraham, Mouni Roy, Jackie Shroff and Sikandar Kher
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
Teachers' pay - what you need to know
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Going grey? A stylist's advice
If you’re going to go grey, a great style, well-cared for hair (in a sleek, classy style, like a bob), and a young spirit and attitude go a long way, says Maria Dowling, founder of the Maria Dowling Salon in Dubai.
It’s easier to go grey from a lighter colour, so you may want to do that first. And this is the time to try a shorter style, she advises. Then a stylist can introduce highlights, start lightening up the roots, and let it fade out. Once it’s entirely grey, a purple shampoo will prevent yellowing.
“Get professional help – there’s no other way to go around it,” she says. “And don’t just let it grow out because that looks really bad. Put effort into it: properly condition, straighten, get regular trims, make sure it’s glossy.”
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What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
