Bitcoin Conference 2024 kicked off in Nashville, Tennessee on July 25. The conference attracted widespread attention in the previous weeks thanks to the participation of many prominent politicians on the speaker list at the event Nashville, includes presidential candidates Donald Trump and Robert Kennedy Jr., along with Michael Saylor, Cathie Wood, Senators Marsha Blackburn, Cynthia Lummis, etc.
The Bitcoin fans flocking to Nashville this year aren't focused on asset prices. Instead, they enjoyed the bull market and connecting with like-minded attendees.
For many, this year's conference was not the first. But much has changed since 14 months ago in Miami, when Bitcoin prices hovered around $28,000.
At the main entrance to the convention, there is a sign reminding people of the convention's taboos, such as bringing in outside food and drinks or e-cigarettes, but warns "No Allowed." Bear" was clear enough to be well received by attendees from all over the world.
Trump Fever Covers Nashville
Orange is a popular color at the venue, but this year's crypto conference also attracted a fair few attendees wearing red.
Trump's name appeared on advertisements and souvenirs throughout the convention. Even though Trump's keynote speech is two days away, brightly colored baseball hats and accessories are already everywhere.
Meanwhile, a truck known as the MAG-wag was moving around the venue, promoting a meme featuring Trump's vice presidential nominee, Sen. J.D. Vance (R-OH). .
For blockchain-based prediction platform Polymarket, the political crisis caused by this year's election has driven betting and user numbers up. Near the entrance, attendees can get free Polymarket items, such as red hats emblazoned with the foundation's name.
Highlights of the First Day Speeches
Bitcoin and Lightning Network Still Have Significant Impact on Retail Banking
Christian Catalini, Chief Strategy Officer at Lightspark, and Joey Garcia, Director of Public Relations, Policy and Regulation at Xapo Bank, explained how Bitcoin and the Lightning Network will continue to have a significant impact on the banking industry retail.
Catalini emphasized that Bitcoin has been able to allow users to transfer value "24/7, in over 200 countries" since its inception:
"There is only one asset, which is Bitcoin. It has clear regulations and can be deposited and withdrawn in most countries around the world."
BlackRock Customers Are Mainly Interested in BTC and ETH
In a conversation with Bloomberg's James Seyffart, Michael Mitchnick, BlackRock's Chief Digital Asset Officer, explained BlackRock's move into the crypto space with a Bitcoin ETF and an Ethereum ETF in 2024.
“I would say that for our customers today, they are mainly interested in Bitcoin. Of course, people are also interested in Ethereum, but outside of those two, there is almost no interest in other Token ."
Mitchnick added that when the ETF launched, demand came primarily from direct investors. However, BlackRock Wealth Advisory and institutional investors are still stepping up. Major wealth advisory platforms such as Morgan Stanley, UBS and Merrill Lynch do not currently offer a Bitcoin ETF, which means they will only offer one upon client request.
Michael Saylor: 2024 is the First Year Bitcoin Becomes Popular
Microstrategy founder Michael Saylor said during a live event that 2024 will be XEM as "the first year of mainstream institutional adoption of Bitcoin." Saylor's company has owned more than 200,000 Bitcoins since announcing Bitcoin as the treasury's main reserve asset in August 2020.
Saylor said that he keeps getting calls from CEOs of various companies and public institutions who are interested in Saylor's approach of investing in Bitcoin first.
Meanwhile, Saylor hinted that the presence of the two presidential candidates and other prominent US senators could have a positive impact on Bitcoin.
"I think Bitcoin has a good future anyway. I really don't think there will be a government in the future that won't accept Bitcoin."
The question is not whether future governments "will support Bitcoin" but "how aggressively they will act" and "whether they will act quickly or more carefully."
Saylor said that the industry experienced an inflection point in January 2024, with Bitcoin clearly becoming an institutional-grade digital asset.
"As Larry Fink (CEO of BlackRock) said, Bitcoin will have a place in every investment portfolio. Bitcoin has great appeal around the world. It is something special and the world needs more of it. "
