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In this video tutorial, Michael explains the use of the bold tag (B tag) in HTML. He demonstrates how to emphasize text, such as the word "nice," by placing it within the opening and closing B tags. He clarifies that browsers interpret everything between the opening B tag and the corresponding closing tag, which is marked by a slash before the tag name. Additionally, he notes that attributes can only be included in the opening tag, while the closing tag requires only the tag name itself. Michael summarizes that the bold tag is straightforward and doesn't require extensive customization.