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Bitcoin 2024 Conference Concludes in Nashville

The biggest Bitcoin conference of the year just finished up in Nashville, Tennessee
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Jul 29, 2024 • 1 min read

Bitcoin 2024, which wrapped up on July 27th in Nashville, boasted major announcements and bold speeches. Here are some of the biggest takeaways:

What's the scoop?

  • BlackRock's Bitcoin ETF Booms: The Head of Digital Assets at BlackRock reports nearly unbroken positive inflows for its Bitcoin Spot ETF, with just one day of negative flows in six months.
  • RFK Jr.'s Bitcoin Vision: Robert F. Kennedy Jr. announced a bold plan: direct the US Treasury to purchase 550 Bitcoin daily until it amasses 4 million BTC. His vision? Make Bitcoin-USD transactions non-reportable and tax-free.
  • Edward Snowden on Bitcoin's Role: Snowden championed Bitcoin as a shield against corruption, though warned Bitcoiners against politicians seeking to win their favor to advance their own agendas.
  • Senator Lummis's Bold Proposal: Lummis proposed legislation allowing the US government to purchase 5% of the total Bitcoin supply and hold it for 20 years.
  • Michael Saylor's Bitcoin Forecast: Saylor shared a 2045 outlook for Bitcoin: bear case at $3M, base case at $13M, and bull case at $49M per coin.
  • Trump's Bitcoin Promises: Trump announced his intention to acquire 1M Bitcoin for the US reserve, pledged no CBDCs under his administration, and emphasized Bitcoin's role in national security. Further, he vowed to sack SEC chair Gary Gensler on day one, keep over 200K BTC seized from enforcement actions, and clear Silk Road founder Ross Ulbricht’s name.

Bankless take:

With big promises made at Bitcoin 2024, it now lies upon their champions to follow through and their words.

As RFK Jr. and Trump pledge to make Bitcoin a strategic reserve asset, Edward Snowden's cautionary remarks prove sobering, reminding us of the great political interests now at play in crypto.

And, of course, while the projected figures by Michael Saylor prove staggering at millions of dollars per BTC, we all may be in for a surprise (albeit in many years) if Bitcoin does end up becoming the national economic asset some seek to make it.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

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