Bitcoin 2024 Conference Opens on Day 1: Trump Fever Sweeps Over Nashville

Original title: "2024 Bitcoin Conference Day 1: A unique "political event""
Original source: Cointelegraph, Decrypt

Compiled and edited by: Felix, PANews

The Bitcoin 2024 conference opened in Nashville, Tennessee on July 25. Due to the addition of several well-known politicians to the Nashville event speech lineup, including presidential candidates Donald Trump and Robert Kennedy Jr., as well as Michael Saylor, Cathie Wood, Senator Marsha Blackburn, Cynthia Lummis, etc., this conference has attracted widespread attention in the past few weeks.

Image source: Cointelegraph

The Bitcoin fans who flocked to Nashville this year are not paying attention to the price of the asset. Instead, they soaked up the bull market and mingled with like-minded attendees.

For many, this year’s conference wasn’t their first. Still, things have changed dramatically since 14 months ago in Miami, when the price of Bitcoin was hovering around $28,000.

At the conference’s main entrance, there was a sign reminding of the conference’s prohibitions, such as bringing in outside food and drink or vaping. But the “No Bears Allowed” warning was clear and seemed to be warmly welcomed by attendees from all over the world.

Image credit: Mike Germano

Trump fever sweeps Nashville

Orange was the popular color in the venue, but this year’s crypto conference attracted its fair share of attendees wearing red.

Trump’s name was plastered on advertisements and souvenirs throughout the conference. Although Trump’s keynote speech was still two days away, brightly colored baseball caps and peripherals were everywhere in the venue.

Image source: André Beganski/Decrypt

Meanwhile, a so-called MAG-wag truck circled outside the venue, promoting a meme coin themed after Trump's vice presidential candidate, Sen. JD Vance (R-OH).

Image credit: André Beganski/Decrypt

For blockchain-based prediction platform Polymarket, the political furor sparked by this year's campaign has boosted betting and user numbers. Near the front door of the venue, attendees could pick up free Polymarket merchandise, such as red hats emblazoned with the platform's name.

Free Polymarket-themed hats. Image credit: André Beganski/Decrypt

Highlights from the first day of the conference

Bitcoin and Lightning Network continue to have a major impact on retail banking

Christian Catalini, Chief Strategy Officer at Lightspark, and Joey Garcia, Director of Public Affairs, Policy and Regulation at Xapo Bank, explained how Bitcoin and Lightning Network continue to have a major impact on retail banking.

Image source: Cointelegraph

Catalini emphasized that Bitcoin has been able to seamlessly allow users to transfer value "24/7 in more than 200 countries and regions" since its inception:

"There is only one asset, and that is Bitcoin. It has clear regulation and has deposit and withdrawal channels in almost every country in the world."

BlackRock's clients are mainly interested in BTC and ETH

Michael Mitchnick, head of digital assets at BlackRock, elaborated on BlackRock's move into the crypto space in 2024 through Bitcoin ETF and Ethereum ETF in a conversation with Bloomberg's James Seyffart.

Image source: Cointelegraph

"I would say that in terms of our clients today, their interest is primarily in Bitcoin. Of course, people are also interested in Ethereum, but apart from these two, there are almost no clients interested in other tokens right now."

Mitchnick added that direct investors dominated demand when the ETF was launched. But BlackRock Wealth Advisory and institutional investors are still gathering momentum. Large wealth advisory platforms such as Morgan Stanley, UBS and Merrill Lynch do not yet offer a Bitcoin ETF, which means they will only offer ETFs at the request of their clients.

Michael Saylor: 2024 is the first year that Bitcoin goes mainstream

Microstrategy founder Michael Saylor said in a live broadcast of an event that 2024 will be seen as "the first year of mainstream institutional adoption of Bitcoin." Saylor’s firm now owns more than 200,000 bitcoins since announcing it as its primary treasury reserve asset in August 2020.

Image credit: Cointelegraph

Saylor said he continues to receive calls from CEOs of various public companies and institutions interested in Saylor’s approach to investing in bitcoin first.

Meanwhile, Saylor hinted that the presence of the two presidential candidates and other prominent U.S. senators could have a positive impact on bitcoin.

“I think bitcoin is going to have a good future regardless. I really don’t see any future government that won’t accept bitcoin.”

The question is not whether future governments “support bitcoin,” but how “aggressive they will be,” and “whether they will act quickly or more cautiously.”

Saylor said the industry experienced an inflection point in January 2024, and Bitcoin has clearly become an institutional-grade digital asset.

"As Larry Fink (BlackRock CEO) said, Bitcoin will have a place in every portfolio. Bitcoin has huge appeal around the world. It's a unique thing, and the world needs more of it."

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