Bitcoin 2024 Conference Day 1: Trump elements are everywhere at the venue, and the bull market atmosphere is strong

Original source: Cointelegraph, Decrypt

Compiled by: Felix, PANews

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

Image source: Cointelegraph

The bitcoin fans who flocked to Nashville this year weren’t focused on the asset’s price. Instead, they were soaking up the bull market and networking with like-minded attendees.

For many, this year’s conference wasn’t their first. But a lot has changed since the first one in Miami 14 months ago, when the price of Bitcoin was hovering around $28,000.

At the conferences main entrance, there was a sign reminding people of the conferences prohibitions, such as bringing in outside food and drink or e-cigarettes, but the No Bears Allowed warning was clear enough that it seemed to be warmly received by attendees from around the world.

Image credit: Mike Germano

Trump fever sweeps Nashville

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

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

Image credit: 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 caused by this year’s election has boosted betting and user numbers. Near the front door of the venue, attendees could get free Polymarket merchandise, such as red hats with the platform’s name printed on them.

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

Highlights of speeches on the first day of the conference

Bitcoin and Lightning Network Still Have Significant 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 the Lightning Network will continue to have a significant impact on the retail banking industry.

Image source: Cointelegraph

Catalini stressed that Bitcoin has been able to seamlessly allow users to transfer value “24/7, in over 200 countries” since its inception:

“There is only one asset, and that is Bitcoin. It has clear regulation and has access to deposits and withdrawals in almost every country in the world.”

BlackRock’s clients are mainly interested in BTC and ETH

In a conversation with Bloombergs James Seyffart, Michael Mitchnick, BlackRocks head of digital assets, elaborated on BlackRocks move into the crypto space with a Bitcoin ETF and an Ethereum ETF in 2024.

Image source: Cointelegraph

“I would say that in terms of our clients today, their interest is primarily in Bitcoin. Of course, people are interested in Ethereum, but other than those two, there is almost no interest in other coins 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 an ETF at the request of their clients.

Michael Saylor: 2024 is the first year Bitcoin goes mainstream

Microstrategy founder Michael Saylor said in a live event that 2024 will be seen as the first year of mainstream institutional adoption of Bitcoin. Saylors company has owned more than 200,000 Bitcoins since announcing Bitcoin as its primary treasury reserve asset in August 2020.

Image source: Cointelegraph

Saylor said he continues to receive calls from CEOs of various public companies and institutions who are interested in Saylors 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 no matter what. I really don’t see any government not accepting Bitcoin in the future.”

The question is not whether future governments are “supportive of Bitcoin,” but rather “how aggressively they will act,” and “whether they will act quickly or more cautiously.”

Saylor said the industry experienced an inflection point in January 2024, with Bitcoin clearly becoming 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 something unique, and the world needs more of it.”