Source: Cointelegraph, Decrypt
Compiled by: Felix, PANews
The Bitcoin 2024 Conference opened in Nashville, Tennessee on July 25th. The event attracted widespread attention weeks before it began due to the participation of several well-known political figures, including presidential candidates Donald Trump and Robert Kennedy, as well as Michael Saylor, Cathie Wood, Senator Marsha Blackburn, Cynthia Lummis, and others.
Image Source: Cointelegraph
The Bitcoin enthusiasts who flocked to Nashville this year were not focused on the asset's price. Instead, they immersed themselves in the bullish atmosphere and engaged with like-minded attendees.
For many, this year's conference was not their first time attending. However, since Bitcoin's price hovered around $28,000 about 14 months ago in Miami, the situation has undergone a dramatic change.
At the main entrance of the conference, there was a reminder sign about the conference ban, such as bringing in food and drinks or electronic cigarettes. However, the "Bears Not Allowed" warning was very prominent and seemed to be warmly welcomed by attendees from around the world.
Image Source: Mike Germano
Trump Fever Sweeps Nashville
Orange was a popular color at the venue, but this year's crypto conference attracted a significant number 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, bright baseball caps and merchandise featuring his name were visible throughout the venue.
Image Source: André Beganski/Decrypt
Meanwhile, a so-called MAG-wag truck circled outside the venue, promoting a meme coin themed around Trump's vice presidential candidate, Senator JD Vance (R-OH).
Image Source: André Beganski/Decrypt
For the blockchain-based prediction platform Polymarket, the political turmoil sparked by this year's election has stimulated betting and user numbers on the platform. Near the front entrance of the venue, attendees could receive free Polymarket merchandise, such as red hats with the platform's name printed on them.
Free giveaway of Polymarket-themed hats. Image Source: André Beganski/Decrypt
Highlights of the First Day's Speeches
Bitcoin and Lightning Network Still Significantly Impacting Retail Banking Business
Christian Catalini, Chief Strategy Officer of Lightspark, and Joey Garcia, Public Affairs, Policy, and Regulatory Director of Xapo Bank, outlined how Bitcoin and the Lightning Network will continue to have a significant impact on the retail banking industry.
Image Source: Cointelegraph
Catalini emphasized that Bitcoin has been seamlessly enabling users to transfer value "across 200+ countries/regions, 24/7, every day" since its inception:
"There is only one asset, and that's Bitcoin. It has clear regulation, and almost every country in the world has on and off ramps."
BlackRock's Clients Mainly Interested in BTC, ETH
Michael Mitchnick, Head of Digital Assets at BlackRock, discussed BlackRock's initiatives in the crypto space in 2024 through Bitcoin ETF and Ethereum ETF with Bloomberg's James Seyffart.
Image Source: Cointelegraph
"I would say, for our clients today, their interest is primarily in Bitcoin. Of course, people are interested in Ethereum as well, but beyond those two, there's almost no interest in other tokens right now."
Mitchnick added that when ETFs were launched, direct investors drove the demand. However, BlackRock's wealth advisory and institutional investors are still gaining momentum. Major wealth advisory platforms such as Morgan Stanley, UBS, and Merrill Lynch have not yet offered Bitcoin ETFs, indicating that they will only offer ETFs at the request of their clients.
Michael Saylor: 2024 is the First Year Bitcoin Becomes Mainstream
Michael Saylor, founder of Microstrategy, stated in a live event that 2024 will be seen as the "first year of mainstream institutional adoption of Bitcoin." Since announcing Bitcoin as its primary treasury reserve asset in August 2020, Saylor's company has acquired over 200,000 bitcoins.
Image Source: Cointelegraph
Saylor mentioned that he continues to receive calls from CEOs of public companies and institutions interested in the way Saylor prioritizes investing in Bitcoin.
At the same time, Saylor suggested that the attendance of two presidential candidates and other prominent U.S. senators may have a positive impact on Bitcoin.
"I think Bitcoin has a good future regardless. I really don't think there's any government in the future that won't accept Bitcoin."
The question is not whether future governments "support Bitcoin," but rather "how much positive action they will take," and "whether they will act quickly or more cautiously."
Saylor stated that the industry experienced a turning point in January 2024, and Bitcoin has clearly become an institutional-grade digital asset.
"Just as Larry Fink (CEO of BlackRock) said, Bitcoin will have a place in every investment portfolio. Bitcoin has tremendous appeal globally. It's something unique that the world needs more of."
Related reading: A Comprehensive Summary of Trump's 2024 Bitcoin Conference Speech Highlights, Guiding Future Crypto Policies for 4 Years
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