Day two of the Bitcoin 2024 conference in Nashville was a whirlwind of insights, predictions, and political statements, showcasing the increasing impact of Bitcoin in various industries. With prominent figures like Michael Saylor, Edward Snowden, and independent presidential candidate Robert F. Kennedy Jr. gracing the stage, the second day of the event on July 26 was filled with memorable moments and bold forecasts. Here are the highlights:
Michael Saylor’s Vision:
CEO of MicroStrategy, Michael Saylor, mesmerized the audience with his ambitious vision for the future of Bitcoin (BTC). During his keynote speech, Saylor painted a picture where Bitcoin’s market cap could soar to $280 trillion by 2045, representing 7% of global wealth and pushing the value of each coin to a staggering $49 million. Even in his more conservative scenario, Saylor suggested that Bitcoin could reach $3 million per coin, accounting for 2% of global wealth. Under Saylor’s guidance, MicroStrategy has amassed 226,331 Bitcoins, valued at approximately $15.4 billion as of June.
Legislative Standstill from Lummis:
Senator Cynthia Lummis, a vocal supporter of Bitcoin, shared the stage with fellow lawmaker Tim Scott to discuss crypto regulations at Bitcoin 2024. Despite expectations, Lummis did not introduce new legislation to establish 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 commitment to safeguard digital asset ownership in the country. Senator Scott hinted at innovative uses of Bitcoin, such as creating “opportunity zones” for development in underserved areas. While no new legislative updates were announced, the speeches underscored the growing political momentum behind Bitcoin, especially with presidential elections looming.
Snowden’s Warning:
Whistleblower and privacy advocate Edward Snowden delivered a cautionary message to attendees of Bitcoin 2024. Speaking remotely from Russia, Snowden warned against politicians trying to woo the crypto community for their own agendas, urging vigilance and independence. He advised engaging with politicians but not being swayed by their promises, emphasizing the importance of staying true to core values amidst political support.
RFK Jr.’s Pledges:
Independent presidential candidate Robert F. Kennedy Jr. made headlines by pledging to designate Bitcoin as a strategic reserve asset if elected. His proposal involves transferring over 200,000 BTC held by the government to the U.S. Treasury and initiating daily purchases to amass a reserve of 4 million Bitcoins. RFK hinted that Donald Trump, the Republican presidential candidate set to speak at Bitcoin 2024 on July 27, may announce plans for the U.S. government to acquire a million Bitcoins as a strategic reserve asset if he wins the upcoming elections. Despite Kennedy’s bold initiatives, recent polls show him trailing behind VP Kamala Harris and Donald Trump.
As Bitcoin 2024 enters its final day, all eyes are on Trump’s keynote speech at 2pm ET. Stay tuned for more coverage of the event and the latest developments in the world of Bitcoin.