Bitcoin changes everything for the better, said Twitter and Square CEO Jack Dorsey on Saturday and he pledged to work "forever" to improve the cryptocurrency.

However, in a follow-up tweet, he said that "no single person (or institution) will be able to change (the cryptocurrency), or stop it."

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Meanwhile, earlier in the week, Square's CFO Amrita Ahuja was quoted by a Financial News report as saying the payments company had no plans to buy more bitcoin. It lost $20m on its $220m investment in the last quarter, the outlet said.

Later in a Twitter post, she said, "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. And as we shared in February, we continue to assess our bitcoin investment on an ongoing basis. Nothing new here."

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In total, Square holds 8,027 bitcoins, worth over $400 million at current prices, as Insider reported.

Recently, Bitcoin has been in the news following an announcement from Elon Musk stating that his company Tesla has suspended vehicle purchases made using bitcoin. He cited the negative environmental impact of cryptocurrency mining as the reason.

The concerns have been surrounding the increasing use of fossil fuels for bitcoin mining and transactions.

Musk's U-turn on accepting bitcoin as payment due to energy concerns caused a stir in crypto circles and could have long term impacts on Bitcoin.