Major players will speak at a new Bitcoin event aimed at institutional investors

The Crypto Council for Innovation is hosting a virtual event on July 21 aimed to “destigmatize mainstream narratives about Bitcoin.”

According to a Thursday announcement, Square, Ark Invest and Paradigm are backing "The ₿ Word," an event on "how institutions can embrace Bitcoin." The project, scheduled for launch next month, will offer featured speakers including Twitter CEO Jack Dorsey; Blockstream founder Adam Back; Ark Invest's Cathie Wood; Michael Morell, former acting and deputy director of the United States Central Intelligence Agency; and John Newbery, director of Brink — a nonprofit focused on supporting Bitcoin (BTC) development.

"The ₿ Word is a Bitcoin focused initiative that aims to demystify and destigmatize mainstream narratives about Bitcoin, explain how institutions can and should embrace it, and raise awareness around areas of the network that need support," said the project.

Formed in April, the Crypto Council for Innovation, or CCI, is an alliance of crypto-friendly firms including Coinbase, Square, Fidelity Digital Assets and Paradigm. The group was created to give companies a better means to lobby lawmakers on crypto and blockchain regulation.

"Bitcoin is a positive force in the world because it increases financial access and opportunity, but the complexity that makes its network so powerful also makes it difficult to understand at first," said Paradigm co-founder Matt Huang. "We hope this initiative helps the investment community and policymakers better understand how transformative a moment we're in right now."

Related: The remaining steps to mainstream institutional investment

At the time of publication, the event lists five sessions that will be available on July 21, with an additional live panel with Dorsey, Wood and others on "Bitcoin As A Tool For Economic Empowerment." Coin Metrics co-founder Nic Carter and MIT Digital Currency Initiative director Neha Narula will also be speaking in the online sessions.

Many experts posited that institutional investors would help drive mainstream interest in Bitcoin and other cryptocurrencies, in addition to potentially helping its price. Data from banking giant JPMorgan Chase in May, however, suggests that retail investors may be purchasing more BTC than institutions, using platforms like PayPal and Square.