The World Economic Forum (WEF) has released a promotional video for its upcoming annual meeting, which includes a segment on cryptocurrency mining. However, the video notably avoids using the word “Bitcoin” despite the fact that the mining process shown in the video is specifically for the world’s largest cryptocurrency.
The video, titled “The Great Reset: Building Future Resilience to Global Risks,” features a variety of topics related to the global economy and the impact of the COVID-19 pandemic. One segment of the video shows a group of people setting up a cryptocurrency mining operation, complete with racks of mining rigs and cooling fans.
While the video does not explicitly mention Bitcoin, the mining process shown is identical to the process used to mine the cryptocurrency. This has led some to speculate that the WEF is intentionally avoiding using the word “Bitcoin” in order to distance itself from the controversial digital asset.
The WEF has been a vocal critic of Bitcoin in the past, with its founder and executive chairman, Klaus Schwab, calling the cryptocurrency a “speculative bubble” in 2018. However, the organization has also recognized the potential of blockchain technology, which underlies Bitcoin and other cryptocurrencies.
Despite the WEF’s reluctance to mention Bitcoin by name, the cryptocurrency continues to gain mainstream acceptance and adoption. Its price has surged in recent months, reaching all-time highs above $40,000 in early January.
As the world’s largest cryptocurrency, Bitcoin’s impact on the global economy cannot be ignored. Whether or not the WEF chooses to acknowledge it by name, Bitcoin and other cryptocurrencies are likely to play an increasingly important role in the future of finance and commerce.
