The Bitcoin 2024 Conference in Nashville, Tennessee, showcased top-notch tech and political addresses, emphasizing Bitcoin’s growing influence over this year. Moreover, this is a special moment in US history, as ten senators and two presidential candidates attended the conference.
The event concluded on a high note, with presidential candidate Donald Trump being the most anticipated speaker at the conference. More importantly, this could influence the narrative, further hyping up his candidacy and future price movements of the world’s leading digital asset.
Without further delay, here’s what’s happened at the Bitcoin 2024 Conference in Nashville:
BlackRock’s Head Of Digital Assets On Stage With Bloomberg ETF Analyst James Seyffart
Robert Mitchnick, the head of digital assets at BlackRock, highlighted BlackRock’s shift in stance on Bitcoin, with CEO Larry Fink now referring to it as “digital gold.”
Notably, Bitcoin spot exchange-traded funds (ETFs) have made an enormous splash, contributing significantly to BlackRock’s revenue and indicating a broader trend of institutional adoption.
Currently, wealth advisory platforms are still in the early stages of Bitcoin ETF adoption, but 2024 may see an acceleration.
Michael Saylor Predicts Bitcoin’s Price By 2045 In Keynote Speech
MicroStrategy CEO Michael Saylor projected Bitcoin’s future, predicting significant value increases over the next two decades.
He noted that Bitcoin’s present price and market capitalization account for just 0.1% of global wealth. Saylor predicts that by 2045, Bitcoin could achieve a market capitalization of $280 trillion, making up 7% of global wealth.
Saylor sees Bitcoin hitting $49 million per BTC in a bullish scenario, capturing 22% of global wealth. In a bearish case scenario, he estimates a value of $3 million per coin, accounting for 2% of global wealth.
Under his leadership, MicroStrategy has already acquired 226,331 BTC, which is now valued at $15 billion, a testament to its Bitcoin commitment.
US Senators Cynthia Lummis And Tim Scott Discuss Bitcoin And Crypto’s Future
Sen. Cynthia Lummis and Sen. Tim Scott discussed regulation and legislative actions, emphasizing the protection of digital asset ownership.
Senator Lummis critiqued the Securities and Exchange Commission’s (SEC) regulatory approach and highlighted Bitcoin mining’s role in the energy sector innovation and infrastructure.
Moreover, Senator Scott also hinted at initiatives using Bitcoin to foster “opportunity zones” in underserved areas.
Edward Snowden Reminds Bitcoin Conference Attendees To Cast Their Votes Wisely
In a virtual address, Edward Snowden cautioned the crypto community about political engagements, noting that many lawmakers are trying to earn the “love” of Bitcoiners, hinting at those attending the Nashville event.
“Cast a vote, but don’t join a cult,” Snowden said.
Furthermore, Snowden also raised significant concerns about Bitcoin’s privacy issues. He noted that Bitcoin transactions are not anonymous and can be traced back to individuals, posing personal privacy risks. Despite the common misconceptions that Bitcoin transfers offer complete anonymity, Snowden clarified that most transactions can be linked through various on and off-ramps, such as crypto exchanges that comply with regulatory requirements.
RFK Jr. Promises Strategic Economic Plans For Bitcoin If Elected President
Independent presidential candidate Robert F. Kennedy Jr. presented a strategic plan to integrate Bitcoin into the US economy if elected President.
His plan’s primary elements involve transferring 204,000 Bitcoin currently held by the United States to the Federal Reserve as a “strategic asset.”
Additionally, Kennedy proposes ordering the Treasury Department to purchase 500 Bitcoin daily until the reserve reaches at least 4 million BTC. He claims this would give the US a dominant position in the global economy.
Ledgers Announces New Hardware Wallet Called “Ledger FlexTM”
Crypto hardware wallet manufacturer Ledger has launched its new mid-range device, the Ledger FlexTM, which was announced during the Bitcoin 2024 conference.
The Ledger FlexTM costs $249 and features a high-resolution 2.8” display that provides clarity when signing transactions or approving logins. Electronic ink or paper offers energy efficiency, allowing the battery to last for weeks or months on one charge.
You can now purchase the Ledger Flex from Ledger’s official website or at various retail outlets worldwide. Orders are processed and shipped immediately.
Ledger also finally released Stax, its long-anticipated hardware crypto wallet, and is shipping units to people who preordered in May. However, the crypto firm said it is increasing the price of the Ledger Stax to $399 from $279.
Sen. Cynthia Lummis Introduces Bill To Create A Bitcoin Strategic Reserve
During the Bitcoin 2024 conference, Senator Cynthia Lummis proposed supercharging the US dollar by establishing a strategic Bitcoin reserve to fortify the dollar against rising inflation and cement US leadership in the rapidly evolving global financial system.
According to Lummis, the legislation would require the US Treasury to self-custody the Bitcoins across “a variety of geographic locations.” The government would hold those coins for at least 20 years unless the tokens are sold to “reduce the debt,” Lummis said.
Donald Trump Delivers Keynote Speech, Vows To Be Pro-Crypto
Speaking at the Bitcoin Conference in Nashville, Donald Trump made many promises and statements in front of over 3,000 attendees during the event. Let’s break them down one by one:
Trump Vows To Create A ‘Strategic Bitcoin Stockpile’ Rivaling China
Donald Trump revealed plans to make a “strategic national Bitcoin stockpile” if elected president in November.
“I want it mined, minted, and made in the US,” Trump said.
Trump also said that the US must dominate the sector, or China will, in his move to court cryptocurrency advocates.
“If we don’t do it, China will do it,” Trump added.
Trump Says The US Government Will Keep 100% Of Bitcoin It Owns
Trump told the crowd at the event he would keep 100% of the Bitcoin that the US government currently holds or acquires after announcing his plans for a “national Bitcoin stockpile.”
“If I am elected, it will be the policy of the United States of America to keep 100% of the bitcoins the US government currently holds or acquires in the future,” Trump said.
Trump To Fire SEC Chair Gary Gensler On Day One If Elected
The Republican candidate also laid out plans for crypto policies should he win in November, including removing Securities and Exchange Commission (SEC) Chair Gary Gensler “on day one” and appointing a new SEC chairman under his administration.
“The moment I’m sworn in, the persecution stops, and the weaponization ends against your industry,” Trump said. “I will appoint a new SEC chairman who believes that America should build the future, not block the future.”
Trump Reaffirms To Commute Ross Ulbricht’s Sentence
Reaffirming a previous promise made in late May, Trump pledges to commute the sentence of Ross Ulbricht, the founder of Silk Road.
Trump Rejects CBDCs
Trump also confirmed that there would be no Central Bank Digital Currencies (CBDCs) under his presidency and that he would protect people’s financial privacy and autonomy.
Trump Says Bitcoin Is Not Threatening The US Dollar
Trump announced that as part of his effort to provide regulatory clarity in the United States, his administration will create frameworks to enable the safe and responsible expansion of stablecoins, allowing them to extend the dominance of the US dollar to new frontiers globally.
“America will be richer, the world will be better, and billions and billions of people will be brought into the crypto economy and store their savings in Bitcoin. Those who say that Bitcoin threatens the dollar have the story backwards. Bitcoin is not threatening the dollar. The behavior of the current US government is threatening the dollar,” he said.
Trump Says Bitcoin Will One Day Probably Surpass The Market Cap Of Gold
Trump said Bitcoin is likely to overtake gold at some point and praised it for being one of the most significant assets in the world.
“Soon it will surpass the entire market cap of silver. One day it will probably overtake gold. There has never been anything like it. It’s a miracle of cooperation of human achievement,” Trump said.
Trump Vows To Make The US A Bitcoin Superpower Of The World
If returned to the White House, Trump promised to make the US a “Bitcoin superpower” and said he would appoint an advisory council to design transparent regulatory guidance that would benefit the entire industry.
“I’m laying out my plan to ensure that the United States will be the crypto capital of the planet and the Bitcoin superpower of the world,” Trump said.
Trump Pledges To End Anti-Crypto Crusade If Elected
Trump pledged that the anti-crypto crusade led by President Joe Biden and Vice President Kamala Harris would end on the day he took office and assured his supporters that his administration would create a more crypto-friendly environment under his administration.
Final Thoughts
The Bitcoin 2024 conference is one of the most successful crypto conferences in history, bringing a watershed moment for Bitcoin and the crypto industry.
The event was very much marked by a significant shift in the political landscape, with both major US presidential candidates expressing strong support for Bitcoin and cryptocurrencies.
Overall, the conference was is a pivotal moment that propelled Bitcoin and cryptocurrencies into the mainstream that will eventually position the US as a potential global leader in the industry.
