The B Word: tonight “nothing will be off limits”

Elon Musk speaks and the crypto world is holding its breath. Whenever the tycoon opens his mouth the cryptocurrency markets get into turmoil, and today he will do it in a big way. Elon Musk, Jack Dorsey (founder of Twitter) and Cathie Wood (CEO of Ark Invest, one of the leading institutional investors in the crypto sector) meet tonight face to face during The B Word, an online conference on the future of cryptocurrencies and their role in institutions as an instrument of economic empowerment. Dorsey and Wood, crypto-activists and oriented towards sustainable mining, will have the task of getting Musk out of the party of skeptics, raising the fortunes of Bitcoin, never so in crisis. In fact, The B Word comes at a time when sentiment around Bitcoin reaches an all-time low. The Fear and Greed Index, a popular indicator among traders that collects and summarizes different sources on the emotions around Bitcoin and other major cryptocurrencies, today stands at values ​​of “Extreme fear”, in a trend that has lasted for months and shows no signs of turning to beauty again, betting on the effects of this three-way conversation on the market, which as always promises pyrotechnic reactions. Also because the official website of The B Word has announced a debate in which “nothing will be off limits”. There are those who wonder if the fact that Musk has accepted the comparison does not herald a rapprochement with Bitcoin. Some are speculating that it may be the occasion for an official announcement regarding the possibility of accepting crypto payments for Tesla again. In fact, it was Musk who contributed substantially to the collapse of Bitcoin prices in recent months, with a resounding turnaround for environmental reasons that arrived shortly after announcing Tesla’s investment in the digital currency and the possibility of paying us for the cars produced by his society. Then he had – partially – rethought us, explaining that he would start accepting Bitcoin again when at least 50% of the energy used for mining will be sustainable. A milestone that suddenly doesn’t seem that far away: New data from Cambridge University shows that the change in the geography of mining in recent months (after the expulsion of miners from China in May) will drastically reduce the carbon footprint of cryptocurrencies. . The mining of cryptocurrencies has in fact moved en masse in search of new economic energy sources, which in most cases are renewable. The expulsion from China also prompted the abandonment of antiquated and energy-consuming equipment, and led the United States to become the new global mining hotspot, making them jump from fifth to second place in a few months, and it is expected that reach 40% of the global hashrate by the end of 2022.If environmental doubts are swept away, today’s conference could mark Musk’s rebirth as a crypto enthusiast, and bring the fate of the market with it. The B Word (an untranslatable pun that compares Bitcoin to a “word not to say”, a paraphrase used for foul language in Anglo-Saxon countries) aims to revolutionize the perception around cryptocurrencies. Between live events and recordings, the initiative founded by Dorsey does not want to remain a circumscribed event, but to provide a library of contents for all those who want to be informed and, in the words of the founder, “demystify and destigmatize the traditional narratives on Bitcoin”. First of all, perhaps, precisely that which concerns the environmental impact.