However, contrary to previous reports, Lummis did not announce new legislation to establish Bitcoin as a strategic reserve asset for the U.S.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.
Michael Saylor’s grand vision
Under Saylor’s leadership, MicroStrategy has accumulated 226,331 Bitcoins, as of the end of June, now worth approximately .4 billion.
In one of the highlights of the day, independent presidential candidate RFK promised to designate Bitcoin as a strategic reserve asset if elected.
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.
Senator Scott, on his part, hinted at innovative uses of Bitcoin, such as creating “opportunity zones” to spur development in underserved areas.
Legislative silence from Lummis
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.
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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.
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.
Well that was super fun. I cannot thank @SenatorTimScott enough. I’m so excited for what we can accomplish.
Snowden’s cautionary note
MicroStrategy CEO Michael Saylor captivated the audience with his ambitious projections for the future of Bitcoin (BTC).
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.
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.
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.
America is about to go from gradually to suddenly (as @parkeralewis says, read his book for the deets) 🧡
Edward Snowden, speaking virtually at Bitcoin 2024 in Nashville
Furthermore, even in his conservative “bear case” scenario, Saylor claimed Bitcoin could still hit million per coin, accounting for 2% of global wealth.
Robert F. Kennedy Jr.’s bold promises
Another interesting speaker on Bitcoin 2024’s second day was whistleblower and privacy advocate Edward Snowden.
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.
His message was clear: while political support can be beneficial, the crypto community must remain vigilant and independent.
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.
In his keynote speech, Saylor outlined scenarios where Bitcoin’s market cap could reach 0 trillion by 2045, making up 7% of global wealth in the process. That, he argued, could elevate Bitcoin’s value to an astonishing million per coin. The current market cap of the leading cryptocurrency is around .3 trillion.
He advised attendees to engage with politicians on their terms but not to become overly attached to or misled by their promises.
