Key Takeaways from the B-word Virtual Conference

The virtual conference held on 22nd July called, “The B-Word” was hosted by Wood’s investment firm, Dorsey’s Fintech giant, and the crypto investment firm Paradigm. The three most well-known and pre-eminent bitcoin boosters took it to the digital stage to discuss the potential of cryptocurrency in the upcoming days.

The CEO of Tesla Elon Musk, The CEO of Square and Twitter Jack Dorsey, and ARK invest CEO Cathie wood united at the virtual conference to share their views on Bitcoin and its global acceptance. During the panel discussion the three bitcoin enthusiasts laid their opinions on BITCOIN surrounding the topic, “Bitcoin As A Tool For Economic Empowerment.” Here are a few takeaway from the virtual conference hosted by the crypto community :

  •  ELON MUSK has always been a firm believer of the fact that Cryptocurrency is the future. He backed up his statement in the digital live conference by explaining how traditional finance is a delayed system of privacy theft. The transactions are slow, there is absolutely no privacy and the banks are just a storage unit. He further added that Bitcoin has captured the market by its ability of faster and safer transactions and the only thing that could be improved would be it’s proof-of-work system. He then announced that he along with Tesla holds Bitcoin. He also personally holds Ethereum and Dogecoin beside BTC.

“I Might Pump, But I Don’t Dump” – Elon Musk

  • JACK DORSEY has been an advocate for Bitcoin and crypto growth for a long time now and has promoted Bitcoin constantly via his social media. In the live panel discussion, he expressed his views on crypto hoping that it would create world peace or it helps in creating world peace. Dorsey said, “If the Internet gets a native currency, what would that be? To me, it is bitcoin because of principles”. He further added that the Bitcoin community is “weird as hell”, But it is “always evolving”.

“What inspires me the most is community driving bitcoin. It reminds me of the early internet.” –  Jack Dorsey

Impacts of the B-word conference :

  • The price of the Cryptocurrency Ethereum rose after Musk confirmed that he holds ETH.
  • Bitcoin finally regained the $30,000 and hiked up by 10% on Wednesday after Elon Musk, Jack Dorsey and Cathie Wood spoke in favour of it. It traded as high as $32,820 and is soon expected to reach the $35,000 mark.
  • Twitter might expect payments in cryptocurrency now. In the middle of the discussion, Elon Musk prompted the idea of big shots in the market like Twitter accepting payments in Crypto to give it institutional reach.
  • Dogecoin is expected to be back in the market with a boom after Musk advocated it and accepted that he hold DOGE.