Day two of the Bitcoin 2024 conference in Nashville delivered a wealth of insights, forecasts, and political statements, showcasing Bitcoin’s growing influence across various sectors. With influential figures such as Michael Saylor, Edward Snowden, and independent presidential candidate Robert F. Kennedy Jr. taking the stage, the event was filled with notable moments and bold predictions. Here are the key highlights.

Michael Saylor’s Vision for Bitcoin

MicroStrategy CEO Michael Saylor captivated the audience with his ambitious projections for Bitcoin’s future. In his keynote speech, Saylor outlined scenarios where Bitcoin’s market cap could reach $280 trillion by 2045, representing 7% of global wealth. This, he argued, could elevate Bitcoin’s value to $49 million per coin. Currently, the market cap of the leading cryptocurrency stands around $1.3 trillion.

Even in a conservative “bear case” scenario, Saylor predicted Bitcoin could still reach $3 million per coin, accounting for 2% of global wealth. Under Saylor’s leadership, MicroStrategy has accumulated 226,331 Bitcoins, valued at approximately $15.4 billion as of the end of June.

Legislative Insights from Senator Cynthia Lummis

Senator Cynthia Lummis, a strong advocate for Bitcoin, took the stage alongside lawmaker Tim Scott to discuss the crypto regulatory landscape. Contrary to previous reports, Lummis did not announce new legislation to establish Bitcoin as a strategic reserve asset for the U.S. Instead, she criticized the regulatory approach of the U.S. Securities and Exchange Commission and highlighted the Republican Party’s efforts to protect digital asset ownership.

Senator Scott hinted at innovative uses of Bitcoin, such as creating “opportunity zones” to spur development in underserved areas. The speeches underscored the political momentum behind Bitcoin, especially with the upcoming presidential elections.

Edward Snowden’s Cautionary Note

Whistleblower and privacy advocate Edward Snowden spoke virtually, cautioning attendees about politicians trying to win over the crypto community for their own agendas. Snowden, in exile in Russia since 2013, warned that many lawmakers seek the support of Bitcoin enthusiasts without genuinely aligning with their values.

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.

His message was clear: while political support can be beneficial, the crypto community must remain vigilant and independent.

Robert F. Kennedy Jr.’s Promises

Independent presidential candidate Robert F. Kennedy Jr. made a bold promise 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.

Kennedy hinted that Republican presidential candidate Donald Trump might 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 these bold proposals, recent polls show Kennedy trailing behind VP Kamala Harris and Donald Trump.

Stay tuned for more coverage of Bitcoin 2024 as the event enters its third and final day. Explore more news and updates on Global Crypto News.

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