The Bitcoin Conference in Nashville featured prominent speakers, including former President Donald Trump and presidential candidate Robert F. Kennedy Jr. This event gave a major push to Bitcoin, highlighting its growing impact and mainstream acceptance. Let’s break down the major announcements and happenings at the Bitcoin Conference 2024.
Here are the main points from Day 1 of the Bitcoin 2024 conference:
Robert Mitchnick (BlackRock): Highlighted client demand as the driver behind Bitcoin ETFs. Noted BlackRock's ETFs are gaining momentum but are still in the early stages.
Larry Fink (BlackRock): Shifted from skepticism to referring to Bitcoin as “digital gold.”
James Seyffart (Bloomberg) Reported that Bitcoin ETFs, like iShares Bitcoin Trust, have been very successful and contribute significantly to BlackRock’s revenue.
VanEck: It predicted that Bitcoin could reach $2.9 million per coin by 2050, driven by its use in trade settlement and as a reserve asset.
Salman Khan (Marathon Digital Holdings): Announced Marathon’s acquisition of $100 million in Bitcoin and now holds over 20,000 BTC with plans to HODL the cryptocurrency.
Fred Thiel (Marathon Digital Holdings): Emphasized commitment to Bitcoin and encouraged governments and corporations to use it as a reserve asset.
Day 2 Highlights:
Robert Kennedy Jr's Promise: Vowed to transfer 200,000 BTC to the US Treasury and buy 550 BTC daily to build a reserve.
Edward Snowden's Warning: Cautioned against politicians exploiting Bitcoin for their own interests.
Michael Saylor's Prediction: Forecasted Bitcoin could reach $13 million per coin by 2045.
Anthony Scaramucci's Prediction: Suggested Bitcoin might surpass gold's market cap by 10x.
Jan Van Eck's Insight: Emphasized Bitcoin’s potential, reflecting on historical parallels with gold investments.
Jimmy Song's Criticism: Criticized the focus on traditional finance and ETFs, arguing it strays from Bitcoin’s core values.
BlackRock’s Focus: Noted that clients show significant interest in Bitcoin and Ethereum.
Retail Banking Promise: Bitcoin and Lightning Network discussed for their potential impact on retail banking.
Day 3 Highlights:
Trump Promises
Replace SEC Chairman: On day one, I will fire Gary Gensler and appoint a new SEC chairman.
National Bitcoin Reserve: If elected, I will establish a US Government strategic national Bitcoin stockpile.
Retain Bitcoin Ownership: The US Government will keep 100% of the Bitcoin it owns.
Bitcoin's Growth: Bitcoin is destined for significant growth.
Hold Your Bitcoin: Never sell your Bitcoin.
Market Cap Prediction: Bitcoin will likely surpass the market cap of gold.
Ross Ulbricht's Sentence: I reaffirm my pledge to commute Ross Ulbricht's sentence.
No CBDC: There will never be a Central Bank Digital Currency (CBDC) while I am President.
Crypto Surge: Bitcoin and crypto will see unprecedented growth if I am elected president.
Dollar Threat: Bitcoin is not threatening the dollar; the current U.S. government is.
Crypto Leadership: The United States will become the global leader in crypto and the Bitcoin superpower.
Bitcoin's Values: Bitcoin represents freedom, sovereignty, and independence from government control.
Support for Crypto: I pledge that on the day I take office, Joe Biden and Kamala Harris' anti-crypto policies will end.
Market Reaction
Bitcoin briefly dipped from $69,000 to $67,000 following Trump's speech but quickly recovered. It is currently trading at $67,629.79 with a 0.37% dip in the last 24 hours.
Strategic Bitcoin Reserve
Senator Lummis proposes US buy and hold 5% of global Bitcoin for 20 years to reduce debt.
Democratic Representatives:
Over a dozen Democrats, including Rep. Josh Gottheimer, Ro Khanna, Wiley Nickel, and Ritchie Torres, urged the Democratic National Committee to adopt a pro-crypto stance.
Proposed a pro-crypto vice-presidential candidate and replacement of SEC Chair Gary Gensler with a more supportive agency head.
Called for a forward-looking approach to digital assets to maintain U.S. leadership in the global digital economy.
Innovation Support
Colin McLaren from the Cedar Innovation Foundation Expressed pride in Democratic leaders' unified pro-crypto stance, highlighting a historic moment of generational change within the party and praised Democratic leaders for supporting innovation.
That's it for today! Thanks for reading. Stay tuned for our next update. Have a great day!😀
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