Saylor’s vision, RFK’s remarks steal the show in Nashville

The second day of the Bitcoin 2024 conference in Nashville was packed with insights, predictions, and policy statements reflecting Bitcoin’s growing influence across multiple industries.

The second day of the event, July 26, was filled with memorable moments and bold predictions, with notable figures like Michael Saylor, Edward Snowden, and independent presidential candidate Robert F. Kennedy Jr. taking the stage. We’ve rounded up the highlights below.

Michael Saylor’s grand vision

MicroStrategy CEO Michael Saylor wowed the audience with his ambitious predictions about the future of Bitcoin (BTC).

In his keynote, Saylor outlined scenarios where Bitcoin’s market cap could reach $280 trillion by 2045, accounting for 7% of global wealth in the process. He argued that this could push Bitcoin’s value to a staggering $49 million per coin. The leading cryptocurrency’s current market cap is around $1.3 trillion.

Saylor claimed that even in a conservative “bear scenario,” Bitcoin could still reach $3 million per coin and account for 2% of global wealth.

Under Saylor’s leadership, MicroStrategy had accumulated 226,331 Bitcoins as of the end of June, worth approximately $15.4 billion.

Lummis’ legislative silence

Senator Cynthia Lummis, a staunch Bitcoin advocate, also took to the Bitcoin 2024 stage with her colleague Tim Scott to discuss the cryptocurrency regulatory environment.

This was so much fun. I can’t thank you enough. @SenatorTimScott enough. I’m so excited about what we can accomplish.

America is slowly moving towards a sudden (like) change @parkalewis (He says read his book to learn the details) 🧡

It’s not over yet. We still have one more easter egg 🥚 to leave… picture.twitter.com/nT0V8xAr66

— Cynthia Lummis 🦬 (@CynthiaMLummis) July 26, 2024

However, contrary to previous reports, Lummis did not announce any new legislation that would designate Bitcoin as a strategic reserve asset for the US.

Instead, the Wyoming senator again criticized the regulatory approach 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 pointed to innovative uses of Bitcoin, such as creating “opportunity zones” to spur development in underserved areas.

Despite the lack of new legislative announcements, the two lawmakers’ speeches underscored the political momentum behind Bitcoin, especially as the presidential election approaches.

Snowden’s cautionary note

Another interesting speaker on the second day of Bitcoin 2024 was whistleblower and privacy advocate Edward Snowden.

Speaking virtually, the former NSA employee warned attendees against charm offensives by politicians who seek to persuade the crypto community to their own ends.

Snowden, who has been living in exile in Russia since 2013, said many lawmakers have tried to gain the support of Bitcoin enthusiasts but that it doesn’t really align with his own values.

He advised participants to engage with politicians on their own terms but not to get too attached to their promises or be misled.

They are not our tribe. They are not your person. They have their own interests, their own values, their own pursuits. 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 speaks virtually at Bitcoin 2024 in Nashville

His message was clear: Political support can be helpful, but the crypto community must remain vigilant and independent.

The bold promises of Robert F. Kennedy Jr.

One of the notable developments of the day was that independent presidential candidate RFK promised to designate Bitcoin as a strategic reserve asset if elected.

His plan involves transferring over 200,000 BTC held by the government to the US Treasury Department and initiating daily purchases to create a reserve of 4 million Bitcoins.

RFK also hinted that later today, Republican presidential candidate Donald Trump, who is scheduled to address the Bitcoin 2024 audience on July 27, may announce a plan to authorize the U.S. government to purchase one million Bitcoins as a strategic reserve asset if he wins the upcoming presidential election.

BREAKING NEWS: 🇺🇸 US Presidential candidate Robert Kennedy F. Jr. said, “I understand that tomorrow President Trump may announce a plan to authorize the US government to purchase one million Bitcoins as a strategic reserve asset, and I applaud that announcement.” pic.twitter.com/kQdF5u5cCZ

— Bitcoin Magazine (@BitcoinMagazine) July 26, 2024

Despite his bold proposals, which would reflect a dramatic shift toward integrating Bitcoin into U.S. monetary policy, recent polls show Kennedy still trailing Vice President Kamala Harris and Donald Trump.

A Reuters/Ipsos poll taken on July 23 showed Harris ahead with 42%, Trump with 38% and Kennedy with 8%.

Stay tuned for more coverage of Bitcoin 2024 as the event enters its third and final day. All eyes will be on Trump’s keynote speech, scheduled for 2pm ET.