Bitcoin Conference: Here are The Major Highlights From The Event

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As a seasoned financial analyst with over two decades of experience in the industry, I have witnessed the evolution of digital currencies from a mere curiosity to a legitimate investment asset class. The 2024 Bitcoin Conference was an exhilarating event that brought together some of the biggest names in the crypto world and beyond.

The 2024 Bitcoin Conference, held from Thursday to Saturday, concluded with a number of thrilling moments.

Political Promises From The Bitcoin Conference

At the Bitcoin Conference’s finale, Republican Presidential candidate Donald Trump delivered an impressive speech. The 78-year-old politician expressed his proposed cryptocurrency-related initiatives to attract crypto supporters. One significant aspect of his strategy involves dismissing SEC Chair Gary Gensler on his inauguration day. This decision underscores Trump’s bold approach to overhauling crypto regulations.

He praised Bitcoin as a remarkable technological feat that embodies collaboration and success. At the same time, Trump criticized Vice President Kamala Harris, labeling her as radical, and emphasized her opposition to cryptocurrencies.

Independent presidential candidate Robert F. Kennedy Jr. has revealed his intentions for the US if he is elected, including a significant shift in the country’s perspective on Bitcoin (BTC). On assuming office, RFK plans to issue several executive orders with the objective of incorporating Bitcoin into the U.S. economic blueprint.

RFK announced his intention to oversee the transfer of around 200,000 BTC from the government’s possession to the U.S. Treasury, using the Department of Justice and U.S. Marshals for the task. Yet again, this proposal faced opposition from Peter Schiff.

Institutional Support For Bitcoin And a Macro Scale Price Prediction

Cantor Fitzgerald unveiled plans for a Bitcoin financing division at the conference, allowing investors to borrow against their BTC holdings. According to Howard Lutnick’s statement, the firm itself is a significant holder of Bitcoin.)

The announcement served to highlight the firm’s strong commitment to the cryptocurrency sector. Additionally, it underscores the growing interest in crypto investments among institutional players.

Michael Saylor, the founder of MicroStrategy, is firmly convinced that Bitcoin’s significant momentum at the conference warrants a potential bull market. He has put forth his perspective on Bitcoin’s future price trend, estimating an annual growth rate decrease from approximately 55% to around 20% by 2045. Consequently, this reduction would lead to an astounding value of $13 million for each Bitcoin unit.

The price of Bitcoin is presently at $67,989.33, representing a 0.99% decrease over the past 24 hours. Yet, there’s a strong possibility that Bitcoin will continue to trend upward this week, potentially triggering a bullish reaction among altcoins as well.

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2024-07-28 22:22