The truth was that Jay Gatsby of West Egg, Long Island, sprang from his Platonic conception of himself. He was a son of God—a phrase which, if it means anything, means just that—and he must be about His Father’s business, the service of a vast, vulgar, and meretricious beauty. So he invented just the sort of Jay Gatsby that a seventeen-year-old boy would be likely to invent, and to this conception he was faithful to the end.
It would be Two-Bit because he prized his switchblade and would use it whenever he needed to. And near the end, he gives his switchblade to Dally. I hope this helps!