Day two of the Bitcoin 2024 conference in Nashville was a whirlwind of insights, forecasts and political statements, reflecting the growing influence of Bitcoin across multiple sectors.
With notable figures such as Michael Saylor, Edward Snowden, and independent presidential candidate Robert F. Kennedy Jr. taking the stage, the second day of the event, July 26, was packed with memorable moments and bold predictions. We gathered the highlights below.
Michael Saylor’s grand vision
MicroStrategy CEO Michael Saylor captivated the audience with his ambitious projections for the future of Bitcoin (BTC).
In his keynote speech, Saylor outlined scenarios where Bitcoin’s market cap could reach $280 trillion by 2045, making up 7% of global wealth in the process. That, he argued, could elevate Bitcoin’s value to an astonishing $49 million per coin. The current market cap of the leading cryptocurrency is around $1.3 trillion.
Furthermore, even in his conservative “bear case” scenario, Saylor claimed Bitcoin could still hit $3 million per coin, accounting for 2% of global wealth.
Under Saylor’s leadership, MicroStrategy has accumulated 226,331 Bitcoins, as of the end of June, now worth approximately $15.4 billion.
Legislative silence from Lummis
Senator Cynthia Lummis, a staunch advocate for Bitcoin, also took the Bitcoin 2024 stage with fellow lawmaker Tim Scott to discuss the crypto regulatory landscape.
However, contrary to previous reports, Lummis did not announce new legislation to establish Bitcoin as a strategic reserve asset for the U.S.
Instead, the Wyoming senator again criticized the regulatory approach being used by the U.S. Securities and Exchange Commission and highlighted the Republican Party’s efforts to protect digital asset ownership in the U.S.
Senator Scott, on his part, hinted at innovative uses of Bitcoin, such as creating “opportunity zones” to spur development in underserved areas.
Despite the lack of new legislative announcements, the speeches from the two legislators underscored the political momentum behind Bitcoin, especially with presidential elections around the corner.
Snowden’s cautionary note
Another interesting speaker on Bitcoin 2024’s second day was whistleblower and privacy advocate Edward Snowden.
Speaking virtually, the former NSA contractor cautioned attendees about the charm offensive from politicians trying to win over the crypto community for their own agendas.
Snowden, who has been in exile in Russia since 2013, warned that many lawmakers are trying to gain the support of Bitcoin enthusiasts without genuinely aligning with their values.
He advised attendees to engage with politicians on their terms but not to become overly attached to or misled by their promises.
They are not our tribe. They are not your personality. They have their own interests, their own values, their own things they’re chasing. Try to get what you need from them, but don’t give yourself to them, even if you have to vote for them.
Edward Snowden, speaking virtually at Bitcoin 2024 in Nashville
His message was clear: while political support can be beneficial, the crypto community must remain vigilant and independent.
Robert F. Kennedy Jr.’s bold promises
In one of the highlights of the day, independent presidential candidate RFK promised to designate Bitcoin as a strategic reserve asset if elected.
His plan includes transferring more than 200,000 BTC held by the government to the U.S. Treasury and initiating daily purchases to build a reserve of 4 million Bitcoins.
RFK further hinted that Republican presidential candidate Donald Trump — who is scheduled to address Bitcoin 2024 audiences later today, July 27 — may announce his plan to authorize the U.S. government to buy a million Bitcoins as a strategic reserve asset if he wins the upcoming presidential elections.
Despite his bold proposals, which would reflect a dramatic shift towards integrating Bitcoin into U.S. monetary policy, the latest polls show that Kennedy still trails behind VP Kamala Harris and Donald Trump.
A July 23 Reuters/Ipsos poll showed Harris leading with 42%, Trump with 38%, and Kennedy with 8%.
Stay tuned for more coverage of Bitcoin 2024 today as the event enters its third and final day. All eyes will be on Trump’s keynote speech, which is scheduled for 2pm ET.