ChattBitcoin plans introductory event on cryptocurrency Monday

Amid the plunge in cryptocurrency values this year, local investors, entrepreneurs and crypto mining owners have organized an educational event about Bitcoin from 6-8:30 p.m. Monday at the Read House.

The newly formed ChattBitcoin plans a series of activities and a town-hall-style conversation Monday with Bitcoin educator Jimmy Song and other industry leaders.

"The No. 1 question I hear around Bitcoin is, 'What is it?'" ChattBitcoin founding member Tom Schreiner said in an announcement of the event. "There's perhaps no one else better qualified to answer that question than Jimmy Song. Jimmy will focus on what Bitcoin is and the philosophy behind it in a really accessible way."

(READ MORE: Bitcoin in your 401(k): what could possibly go wrong?)

Song is a software engineer, consultant, instructor and adviser about Bitcoin who lives in Austin, Texas. He has authored a number of articles and books about cryptocurrency over the past decade.

Tennessee state Rep. Jason Powell, D-Nashville, who authored legislation in 2018 and again this year to help promote the Bitcoin industry and mining in Tennessee, will be among those at Monday's event. Earlier this year, Powell helped pass a bill to attract to Tennessee decentralized autonomous organizations that run on blockchain technology.

(READ MORE: Bitcoin plunges as major crypto lender halts operations)

Schreiner said Monday's event is meant for both new and experienced Bitcoiners and is free and open to the public. Current sponsors include PowR, Prime Trust, Swan and Transcard.

"Chattanooga has a very unique setup," Schreiner said in a press release about ChattBitcoin. "There's an amazing amount of energy and affinity around this topic, and we hope to bring folks with a passion for these issues in contact with people who are just curious about what Bitcoin is all about."

(READ MORE: Amid crypto turmoil, senators propose sweeping oversight)

The event comes as Bitcoin, the world's largest cryptocurrency, dropped in value by 15% on Monday, its sharpest one-day drop since March 2020. Bitcoin has shed about half its value this year and more than 20% since Friday alone. Since its record high of $69,000 in November, it has slumped nearly 70%.

To register and find out more about the event visit

- Compiled by Dave Flessner