Live coverage of Bitcoin's 'B Word' event

Vertigo3d/iStock via Getty Images Nic Carter kicks things off explaining the crucial importance of Proof of Work for Bitcoin (BTC-USD), and why Proof of Stake (less energy intensive) is inferior. Carter also notes that more transactions doesn't necessarily mean more energy expenditure. This is in direct contrast to Elon Musk, who two months ago helped set off Bitcoin's collapse by claiming transactions use too much energy. Musk takes the stage at 2 PM ET alongside Cathie Wood and Jack Dorsey. The energy usage, says Carter, is about securing the network, and has little to do with transactions. Watch live here Bitcoin at 12:50 PM ET has moved to a session high, up about 9% to $32.4K. Updates to come throughout the afternoon ...