The second day of the Bitcoin 2024 conference in Nashville was a whirlwind of insights, predictions, and political declarations, showcasing the increasing impact of Bitcoin across various industries.
Esteemed personalities like Michael Saylor, Edward Snowden, and independent presidential candidate Robert F. Kennedy Jr. graced the stage on July 26, delivering memorable moments and bold forecasts. Here are the key highlights:
Michael Saylor’s Ambitious Vision
During his keynote address, MicroStrategy CEO Michael Saylor mesmerized the audience with his expansive outlook on the future of Bitcoin (BTC). Saylor envisioned a scenario where Bitcoin’s market cap could soar to $280 trillion by 2045, representing 7% of global wealth and pushing the value of a single coin to an astonishing $49 million. Even in a more conservative projection, Saylor suggested that Bitcoin could still reach $3 million per coin, accounting for 2% of global wealth. Under Saylor’s guidance, MicroStrategy has amassed 226,331 Bitcoins, valued at around $15.4 billion as of June.
Legislative Stance from Lummis
Senator Cynthia Lummis, a vocal supporter of Bitcoin, shared the stage with fellow lawmaker Tim Scott to discuss cryptocurrency regulations. Despite expectations, Lummis did not introduce new legislation to designate Bitcoin as a strategic reserve asset for the U.S. Instead, she criticized the regulatory approach of the U.S. Securities and Exchange Commission and emphasized the Republican Party’s efforts to safeguard digital asset ownership. Senator Scott hinted at innovative uses of Bitcoin, such as establishing “opportunity zones” to drive development in underserved areas. While no new legislative proposals were announced, the speeches from the two legislators highlighted the growing political backing for Bitcoin, especially with the presidential elections looming.
Snowden’s Warning
Whistleblower and privacy advocate Edward Snowden delivered a cautionary message to attendees of Bitcoin 2024. Snowden, speaking virtually from Russia, warned about politicians attempting to win over the crypto community for personal gain. He advised the audience to engage with politicians cautiously and not be swayed by their promises, emphasizing the importance of remaining vigilant and independent within the crypto community.
Robert F. Kennedy Jr.’s Pledges
Independent presidential candidate RFK made a striking promise to designate Bitcoin as a strategic reserve asset if elected. His plan involves transferring over 200,000 BTC held by the government to the U.S. Treasury and initiating daily purchases to accumulate a reserve of 4 million Bitcoins. RFK also hinted at the likelihood of Republican presidential candidate Donald Trump announcing a plan to authorize the U.S. government to purchase a million Bitcoins as a strategic reserve asset if he emerges victorious in the upcoming elections. Despite his bold proposals, recent polls indicate that Kennedy trails behind VP Kamala Harris and Donald Trump in popularity.
As Bitcoin 2024 enters its final day, all eyes are on Trump’s keynote speech scheduled for 2 pm ET. Stay tuned for more coverage of the event as it unfolds.