BTC 2024 Conference Day One Insights
The Bitcoin 2024 conference will be held in Nashville, with notable figures such as Trump, Saylor, and Wood delivering speeches.Original Title: Political undertones stand out as Bitcoin 2024 hits Nashville
Author: GARETH JENKINSON
Source: cointelegraph
Translation: Mars Finance, Eason
The Bitcoin 2024 conference is taking place in Nashville - a highlight of the event is the speech by Donald Trump scheduled for July 27.
The Bitcoin 2024 conference kicked off on July 25 in Nashville, Tennessee, featuring renowned speakers such as Donald Trump, Michael Saylor, Cathie Wood, Robert F. Kennedy Jr., Russell Brand, and Edward Snowden, attracting a record audience.
The Trump Factor
11:26 UTC: Cointelegraph's U.S. news editor Sam Bourgi and reporter Ana-Paula Pereira are on-site reporting from the event, providing the latest insights, images, and videos from panel discussions and interviews.
Cointelegraph's U.S. news editor Sam Bourgi, reporter Ana-Paula Pereira, and Kyle White from Cointelegraph Accelerator are attending the Bitcoin 2024 conference in Nashville
The conference has garnered widespread attention in recent weeks due to the participation of prominent politicians in the Nashville event's speaker lineup.
Donald Trump is the headline speaker waving advertisements around Nashville
Presidential candidates Donald Trump and Robert F. Kennedy Jr. are major attractions, with other notable speakers including Michael Saylor, Cathie Wood, Senator Marsha Blackburn, and Cynthia Lummis.
Bitcoin and the Lightning Network Still Bring Hope to Retail Banking
15:26 UTC: Lightspark Chief Strategy Officer Christian Catalini and Xapo Bank's Director of Public Affairs, Policy, and Regulation Joey Garcia stated that Bitcoin and the Lightning Network will continue to have a significant impact on retail banking.
Lightspark's Chris Catalini, Xapo Bank's Joey Garcia, and Nolan Bauerle discuss Bitcoin's potential in retail banking
Catalini emphasized that since its inception, Bitcoin has enabled its users to seamlessly transfer value across a global network with "deep liquidity 24/7 in over 200 countries": "There is only one asset, and that is Bitcoin. It has clear regulation. It has entry and exit points in almost every country in the world."
BlackRock's Clients Primarily Interested in BTC and ETH
17:38 UTC: BlackRock's Head of Digital Assets Michael Mitchnick detailed the global asset management firm's plans to enter the cryptocurrency space in 2024 through Bitcoin and Ethereum exchange-traded fund products in a conversation with Bloomberg's James Seyffart.
Bloomberg's James Seyffart with BlackRock's Michael Mitchnick on the Nakamoto main stage
"I would say that, at this stage with our clients, their interest in Bitcoin is overwhelmingly predominant. Of course, they are interested in Ethereum as well, but outside of these two currencies, there is almost no interest right now."
Mitchnick added that demand was led by direct investors when the ETF launches. According to the digital asset head, BlackRock's wealth advisory and institutional investors are still gaining momentum.
Large wealth advisory platforms like Morgan Stanley, UBS, and Merrill Lynch have yet to start offering Bitcoin ETFs in a solicited manner, meaning they will only provide ETFs when clients request them.
Jimmy Song Critiques the Conference, Focuses on TradFi and ETFs
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 banking encroachment, institutional investment, and the emergence of U.S. exchange-traded funds, which are efforts by multinational corporations and the administrative state to co-opt the Bitcoin movement.
During the panel discussion, Mr. Song called for the resilience of American values and the pioneering spirit inherent in Bitcoin, strongly condemning previous panel discussions for straying from these values to accommodate speakers from financial institutions like BlackRock.
"The greatness of Bitcoin lies in freedom, autonomy, and self-sovereignty. These are the very foundations upon which this country was built. Unfortunately, due to money, due to the power of the printing press, we have a ruling administrative state that thinks it is better than us."
Jimmy Song criticized the presence of traditional financial institutions like BlackRock and the focus on banks, trading, and exchange-traded funds. He added, "I hate that these are the topics discussed at Bitcoin conferences. 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, agreed with Song's comments, explaining that Bitcoin "truly provides a great opportunity for many to see the problems caused by government," and then elaborated that this scarce decentralized asset enables people to help themselves and others independently of state structures.
2024 is the First Year of Mainstream Adoption - Michael Saylor
As the first day of activities drew to a close, MicroStrategy founder Michael Saylor participated in a keynote speech scheduled for July 26 at 7 PM U.S. Eastern Time.
The 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 accumulated over 200,000 BTC.
MicroStrategy founder Michael Saylor attends the Bitcoin 2024 conference with Kyle White from Cointelegraph Accelerator
Saylor mentioned that he continuously receives calls from CEOs of publicly traded companies and institutions interested in his pioneering Bitcoin-first investment approach.
Meanwhile, Saylor hinted that the presence of two presidential candidates and other prominent U.S. senators could have a positive impact on Bitcoin.
"I believe that Bitcoin will have a good outlook regardless. I truly think that no future government will accept Bitcoin."
Saylor added that the issue is not whether future governments will "support Bitcoin," but rather "how much proactive action they will take," and "whether they will act swiftly or more cautiously."
The MicroStrategy CEO stated that the industry has already passed a turning point in January 2024, when Bitcoin has clearly become an institutional-grade digital asset.
"As Larry Fink said, it has a place in every portfolio. It has tremendous global appeal. It is unique, and the world needs more of that."
