On July 27, local time, the Bitcoin 2024 conference held in Nashville, Tennessee, closed. The conference invited 10 American political guests, including Trump, which not only made the conference a hot topic for all crypto users to discuss recently, but also made cryptocurrency the focus of attention in the United States again.

During these three days, the front-line reporters of BlockBeats were on the scene and reported the situation on the scene to us as soon as possible. This year, two Bitcoin conferences were held. Among them, the conference held in Hong Kong was the main force of Chinese participants; this time in Tennessee, Chinese participants were almost invisible, but each booth was basically equipped with Chinese employees. In addition, the company mining companies and BTC L2 each stood at about 40% of the booths; Michael Saylor, the founder of MicroStrategy, was one of the most popular guests besides Trump, and many participants lined up to take photos with him when they saw him.

On the second day of the conference, perhaps because of the speech by Robert Kennedy Jr., an independent candidate for the US President, there were many more people on the scene than on the first day, and the security check was stricter. On the same day, Snowden's speech attracted people's attention and support as always.

On the third day, the security check reached an unprecedented level on the day of Trump's speech. Everyone had to directly pour out their carry-on bags for inspection and instrument testing. The scene was overcrowded. The main venue, which originally had about 8,000 seats, poured in more than 10,000 people, and many listeners stood to listen to the speech. Although there were many people, most of the audience were not users in the industry. Many were attracted by Trump's speech and knew little about the crypto market.

At this conference, Trump said in his speech that if he was elected, he would establish a national strategic Bitcoin reserve and resign SEC Chairman Gary Gensler on the day he took office. This series of "pro-crypto" remarks greatly boosted market confidence. On the day of the speech, Bitcoin also broke through $69,000. Related reading: "Full text of Trump's speech at the Bitcoin Conference: I will fire the SEC chairman, never sell your Bitcoin"

Whether it is from the perspective of Bitcoin price or the scale and response of the conference, the Bitcoin 2024 Tennessee Conference was very successful. It adds another certainty to the big bull market we have been looking forward to. In addition to Trump, what else is there to watch at this conference? BlockBeats summarizes and reviews this for readers' reference.

Presidential candidate Donald Trump

On July 27, local time, former US President Trump appeared at the Bitcoin 2024 Conference and delivered a nearly 1-hour speech. The following are the key points of the speech:

· After his election, the United States will not sell (100% reserved) any Bitcoin as a strategic Bitcoin reserve.

· During his last term, Bitcoin rose 3900%, from $898 when he took office to $35,900 on his last day in office. In the three and a half years of Biden and Harris's administration, Bitcoin has only risen 50%.

· Bitcoin does not pose a threat to the US dollar, and those who think that Bitcoin poses a threat to the US dollar are completely wrong. The future danger does not come from cryptocurrencies, but from Washington, DC.

· After taking office, a Bitcoin/Cryptocurrency Presidential Advisory Committee will be appointed.

· Since its birth, the market value of Bitcoin has been getting higher and higher, and it will soon surpass silver and gold in the future.

Photos of Trump's speech taken by BlockBeats editor at the scene

In addition, on July 28, in response to Trump's speech at the Bitcoin Conference, Hong Kong SAR Legislative Council member Wu Jiezhuang said on the X platform that Bitcoin and Web3 are important nodes in the development of globalization, and global common development should be encouraged. In the future, under compliance, it can be considered to include Bitcoin in the strategic fiscal reserves of the country or region. I believe that the SAR government will open the market responsibly and step by step.

Donald Trump Jr., Trump’s eldest son

On July 27, local time, at the Bitcoin 2024 conference, Donald Trump Jr., Trump’s eldest son, said, “Bitcoin is a hedge against inflation and authoritarian governments.”

Presidential candidate Robert F. Kennedy Jr.

Kennedy said at the Bitcoin 2024 conference, “I am a big supporter of Bitcoin. Most of my wealth is invested in Bitcoin, and I’m all in.” He also promised that if he is elected president, he will issue three executive orders related to Bitcoin:

1. Instruct the U.S. Department of Justice and the U.S. Marshals Service to transfer approximately 200,000 bitcoins held by the U.S. government to the Treasury Department to be held as “strategic assets.”

2. Plans to sign a separate executive order instructing the U.S. Treasury to purchase 550 bitcoins per day until the U.S. reserves reach 4 million BTC. "Our country holds about 19% of the world's gold reserves. This policy will allow us to acquire about the same proportion of Bitcoin. This chain reaction and these actions will eventually value Bitcoin at hundreds of trillions of dollars."

3. Plans to issue guidelines declaring all transactions between Bitcoin and the U.S. dollar to be non-reportable and tax-free transactions.

As Trump's rival, Kennedy took the offensive against his cryptocurrency-related stance at the conference. He criticized, "I welcome Trump's new enthusiasm for BTC, but it has only been a few weeks since he started talking about BTC in general. Moreover, Trump said in 2021 that BTC is just a scam. Bitcoin is closely related to our values. Trump needs to explain how his personal values are consistent with the values of Bitcoin holders."

Wyoming Senator Cynthia Lummis

In addition to Trump, Wyoming Senator Cynthia Lummis also announced good news at the conference. Lummis said she will introduce a proposal this week to instruct the U.S. Treasury to purchase 1 million bitcoins (worth about $68 billion at current prices) within five years. She said the move was to offset the impact of the depreciation of the U.S. dollar.

"Bitcoin is a great store of value. It's been growing about 55% per year over the last four years or so. Over that same period, the dollar has depreciated and we've seen inflation rise. So I think there's value in having a hard asset that backs the dollar and grows in value, not falls."

The bill would require the U.S. Treasury to take custody of the bitcoins itself in "multiple geographic locations." The government would hold the tokens for at least 20 years unless it sells them to "reduce debt."

"We know from digital modeling and past experience with bitcoin that it can revolutionize the debt and deficit situation that the United States is in," Lummis said. In addition, the U.S. Treasury should also take custody of the approximately 210,000 BTC accumulated by the Department of Justice and other agencies through criminal seizures.

Lummis has long been a supporter of bitcoin. She bought her first batch of bitcoins in 2013 and has been at the forefront of pushing for cryptocurrency legislation.

Former NSA contractor Edward Snowden

Former NSA contractor Edward Snowden highlighted the pitfalls of political allegiance and privacy issues surrounding Bitcoin in his keynote address at the conference.

He argued that Bitcoin transactions are not anonymous and can be traced back to individuals, which poses a risk to personal privacy. Despite a common misconception that Bitcoin transfers offer complete anonymity, Snowden clarified that most transactions can be linked through various up-and-down channels, such as trading platforms that meet regulatory requirements. This connection makes it possible to track transaction histories, which can reveal sensitive information about users' lives and relationships. Transaction tracking has wider implications, not just for Bitcoin, but for all forms of crypto trading.

MicroStrategy founder Michael Saylor

On July 26, in order to promote more corporate adoption of Bitcoin, MicroStrategy co-founder and executive chairman Michael Saylor announced in a live broadcast of the 2024 Bitcoin Conference that MicroStrategy will cooperate with Bitcoin Magazine to launch the "Enterprise Bitcoin" program.

Michael Saylor added: "The "Enterprise Bitcoin" program is an important step in accelerating corporate Bitcoin adoption. By combining our expertise, resources and influence with Bitcoin Magazine, our goal is to create a powerful platform to educate and support companies to implement Bitcoin strategies and increase the Bitcoin held and adopted by companies."

In addition, Michael Saylor also said that the US government should hold most of the world's Bitcoin and believes that this will strengthen the US dollar. Similar to historical acquisitions, he believes that Bitcoin is a key asset for the future.

Michael Saylor emphasized that "the country must look to the future, and the future of the country is in cyberspace, and Bitcoin is essentially the Manhattan of the network." He believes that Bitcoin can help solve half of the world's economic problems, especially for those countries facing the challenge of rising national debt. Encourage individuals, companies and countries to adopt Bitcoin as a major fiscal asset and use it for long-term capital preservation. He also advocates reallocating treasury reserves from gold and bonds to Bitcoin, issuing currency and bonds to buy Bitcoin, and enacting favorable laws to encourage people to own Bitcoin. And "the first country to fully accept Bitcoin will gain significant economic advantages."

According to its macro forecast, Bitcoin's APR will continue to decrease until it is reduced to twice the S&P index APR. In 2045, Bitcoin will rise to $13 million in the base case and $49 million in the bull market, accounting for 7% of the world's total assets. Even a bear market will reach $3 million per coin.

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