The Bitcoin conference in Nashville, Tennessee, has begun with much acclaim, offering startling revelations and announcements that have captivated the community.
BeInCrypto covers the event’s highlights, spotlighting notable statements from key figures such as MicroStrategy CEO Michael Saylor and US Presidential Candidate Robert Francis Kennedy Jr.
Michael Saylor Predicts $280 Trillion Bitcoin Market Cap
During his keynote address at the Bitcoin 2024 conference, MicroStrategy CEO Michael Saylor forecasted Bitcoin’s market cap to reach $280 trillion by 2045. This would mark a 280-fold increase from its current market cap of over $1 trillion, surpassing the value of art and gold.
Saylor argued that the global economy relies too heavily on imperfect assets for capital storage, which often have short lifespans compared to Bitcoin. He believes Bitcoin can outlast traditional assets, which are vulnerable to war, famine, and other disasters. With the integration of Artificial Intelligence, Saylor suggested Bitcoin’s importance could extend for 1,000 to 100,000 years.
Read more: Who Owns the Most Bitcoin in 2024?
Considering this, Saylor forecasted that Bitcoin’s price could rise to $13 million by 2045 in his base case scenario. However, the asset could climb to as high as $49 million and account for 22% of global wealth in his bull case.
RFK Jr. Promises Daily Bitcoin Purchases if Elected
US Presidential Candidate Robert Francis Kennedy Jr. announced plans to purchase Bitcoin daily if elected. He committed to signing an executive order for the US to buy 550 Bitcoin daily, aiming to build a reserve of 4 million BTC. Additionally, he plans to classify the country’s 200,000 BTC holding as a strategic Treasury asset.
Kennedy also promised to sign an executive order directing the IRS to treat Bitcoin as an eligible asset for a 1031 Exchange into real property. This change would make transactions unreportable and, by extension, nontaxable.
“With a Kennedy speaking at Bitcoin Nashville today, it’s perhaps no surprise that someone just mentioned JFK’s famous reference to space exploration and choosing to do it ‘not because it’s easy, but because it’s hard’. A great deal of hard work has been done over the years, which has helped to ensure the standards in our industry have continued to rise and has offered customers new levels of comfort when it comes to protecting their bitcoin and growing their wealth. Just over the horizon, we can see the industry and regulators finding the common ground that will finally see Bitcoin land in the mainstream,” Neeraj Sane, VP of Marketing at Xapo Bank, shared his thoughts on RFK Jr. speech with BeInCrypto.
Read more: How To Buy Bitcoin (BTC) and Everything You Need To Know
Meanwhile, Kennedy also criticized former President Donald Trump’s crypto stance. Although he acknowledged Trump’s recent positive stance on digital currency, he urged skepticism regarding its authenticity.
“President Trump spent years disparaging crypto currencies; he even appointed anti-crypto proselytizer Steve Mnuchin to head the Treasury Department. Then, in early 2024 – a presidential election year – Trump suddenly pulled a 180 and began to extol the virtues of crypto,” Kennedy stated.
Trump is expected to make a major impact with his remarks. Scheduled to speak today at 9 p.m. UTC, former US President’s appearance is highly anticipated, as he has previously made notable statements.
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