Original Title: Political undertones stand out as Bitcoin 2024 hits Nashville

Author: GARETH JENKINSON

Source: cointelegraph

Compiled by: Mars Financial, Eason

Bitcoin 2024 conference is being held in Nashville - Donald Trump's speech scheduled for July 27 is a major highlight of the event.

The Bitcoin 2024 conference kicked off in Nashville, Tennessee on July 25, featuring record-breaking attendance with notable speakers such as Donald Trump, Michael Saylor, Cathy Wood, Robert F. Kennedy Jr., Russell Brand, and Edward Snowden.

The Trump Factor

11:26 UTC: Cointelegraph's US news editor Sam Bourgi and reporter Ana-Paula Pereira are on-site to provide the latest insights, images, and videos of panel discussions and interviews from the Nashville event.

Cointelegraph's US news editor Sam Bourgi, reporter Ana-Paula Pereira, and Cointelegraph Accelerator's Kyle White attending the Bitcoin 2024 conference in Nashville

The inclusion of prominent politicians in the Nashville event's lineup has garnered widespread attention in the weeks leading up to the conference.

Donald Trump is the headline speaker with billboards waving around Nashville

Presidential candidate Donald Trump and Robert F. Kennedy Jr. are the main attractions, with other notable speakers including Michael Saylor, Cathy Wood, Senator Marsha Blackburn, and Cynthia Lummis.

Bitcoin and Lightning Network Still Bring Hope to Retail Banking

15:26 UTC: Christian Catalini, Chief Strategy Officer of Lightspark, and Joey Garcia, Public Affairs, Policy, and Regulatory Director of Xapo Bank, emphasized the significant impact of Bitcoin and the Lightning Network on retail banking operations.

Chris Catalini from Lightspark, Joey Garcia from Xapo Bank, and Nolan Bauerle discussing the potential of Bitcoin in retail banking

Catalini stressed that Bitcoin has been seamlessly enabling its users to transfer value globally "across 200+ countries/regions, 24/7, with deep liquidity since day one: 'There's only one asset, and that's Bitcoin. It has clear regulation. It has entry and exit in almost every country in the world.'"

BlackRock Clients Primarily Interested in BTC, ETH

17:38 UTC: Michael Mitchnick, Head of Digital Assets at BlackRock, detailed the global asset management company's foray into the cryptocurrency space in 2024 through Bitcoin and Ethereum exchange-traded fund products in a conversation with Bloomberg's James Seyffart.

James Seyffart from Bloomberg with Michael Mitchnick from BlackRock on the Nakamoto main stage

"I would say, for our client base today, the interest in Bitcoin is overwhelmingly the majority. Of course, they are interested in Ethereum as well, but beyond those two currencies, there's almost no interest right now."

Mitchnick added that the demand is being led by direct investors when ETFs are launched. According to the Head of Digital Assets, BlackRock Wealth Advisory and institutional investors are still gaining momentum.

Major wealth advisory platforms such as Morgan Stanley, UBS, and Merrill Lynch have yet to start offering Bitcoin ETFs in a soliciting manner, indicating that they will only provide ETFs when requested by clients.

Jimmy Song Criticizes Conference, Focuses on TradFi and ETF

19:26 UTC: Writer and Bitcoin developer Jimmy Song took the stage at the 2024 Bitcoin event in Nashville, condemning the themes presented on the first day of the event, including the encroachment of banking, institutional investment, and the emergence of US exchange-traded funds, all efforts made by multinational corporations and administrative states to co-opt the Bitcoin movement.

During the panel discussion, Mr. Song called for the inherent rugged individualism and pioneering spirit in American traditional values and Bitcoin to be upheld, sharply criticizing the previous panel discussions for deviating from these values to accommodate speakers from global asset management companies like BlackRock.

"The greatness of Bitcoin is in freedom, autonomy, and sovereignty. These are the foundations upon which this country was built. Unfortunately, because of money, because of the power of the printing press, what we get is an administrative state ruling over us, thinking they know better than us."

Jimmy Song criticized the presence of traditional financial institutions like BlackRock and the focus on banks, ETFs, and exchange-traded funds. He added, "I hate that this is what Bitcoin conferences are about. Banks, ETFs, BlackRock. These are not my values, not Bitcoin's values, and not America's values."

Another panel member, independent media personality Luke Rudkowski, echoed Song's comments, explaining that Bitcoin "really gives a lot of people an amazing opportunity to really see the problems that government causes," and then went on to explain how this scarce, decentralized asset allows people to help themselves and others independently of national structures.

2024 is the First Year of Mainstream Adoption - Michael Saylor

As the first day of the event draws to a close, Microstrategy founder Michael Saylor delivered the keynote speech scheduled for 7:00 PM on July 26, US Eastern Time, before the live broadcast of the event.

This Bitcoin advocate stated that 2024 will be "the first year of mainstream institutional adoption of Bitcoin." Since announcing Bitcoin as its primary reserve asset in August 2020, Saylor's business intelligence company has acquired over 200,000 BTC.

MicroStrategy founder Michael Saylor attending the Bitcoin 2024 conference with Kyle White from Cointelegraph Accelerator

Saylor mentioned that he continues to receive calls from CEOs of public companies and institutions who are interested in the Bitcoin-first investment approach pioneered by Saylor.

At the same time, Saylor hinted that the presence of two presidential candidates and other prominent U.S. senators may have a positive impact on Bitcoin.

"I think Bitcoin has a good future anyway. I really don't think any government in the future is going to accept Bitcoin."

Saylor added that the question is not whether future governments "support Bitcoin," but rather "how aggressively they take action," and "whether they act quickly or more cautiously."

The CEO of MicroStrategy stated that the industry had reached a turning point in January 2024, at which point Bitcoin had clearly become an institutional-grade digital asset.

"As Larry Fink said, it has a place in every portfolio. It has tremendous global appeal. It's unique, and the world needs more of that."

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