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Firing Gensler, a Bitcoin Bill and $4 Million BTC: Highlights and Wildest Predictions from Bitcoin 2024
- The anticipated Bitcoin 2024 conference went off with a bang, with speeches from Trump, RFK and Edward Snowden making waves.
- Republican candidate Donald Trump made several big pro-crypto claims, including pledging his support for a strategic Bitcoin Reserve.
- Trump also vowed to boot Gary Gensler from the SEC if necessary.
- Meanwhile, whistleblower Edward Snowden warned against the community joining a cult as several politicians try to entice the crypto demographic ahead of November’s US election.
Bitcoin’s biggest conference of the year saw thousands of community members showing up to Nashville to catch all the latest. Bitcoin 2024 took centre stage over the weekend as huge names – inside and outside the industry – weighed in on the current state of the crypto market.
But, as expected, the event’s speakers have mostly focussed on politics, thanks to Bitcoin’s ascension into the institutional eye and the pro-crypto stance adopted by Donald Trump and his Republican Party.
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Gensler Will be Gone on “Day One” if Necessary
Donald Trump was always going to be the biggest talking point from the Bitcoin 2024 conference. The US presidential candidate, only a few weeks following an attempt on his life, captured the attention of the crypto world yesterday as he addressed several major issues.
Keeping in character, Trump spent a portion of his speech painting the “vicious” picture for crypto fans if the Democratic Government retained its position in the White House this November.
But it was the presidential hopeful’s discussion of legislation that caught the eye.
Trump vowed to introduce sweeping reformations to how digital currencies are currently policed, including improved stablecoin and self-custody regulations. He then compared the crypto market’s rise to that of other revolutionary assets and even snuck in a subtle crack at China.
[Crypto is] the steel industry of 100 years ago, you’re just in your infancy…One day it probably will overtake gold…I want it to be mined, minted and made in the U.S….If we don’t do it, China will do it
Donald Trump And of even more interest to the crypto community was Trump’s plans for SEC Chair Gary Gensler – if the Republicans get in. The answer was simple:
Fire him “on day one.”
The moment I’m sworn in, the persecution stops, and the weaponisation ends against your industry…I will appoint a new SEC chairman who believes that America should build the future, not block the future.
Donald Trump Predictably, this statement was met with raucous applause from the 3,000+ strong crowd.
Snowden Urges Caution While Politicians Lobby to Build Massive Bitcoin Reserve
You’d be forgiven for forgetting, but Trump was far from the only political representative to take the podium at Bitcoin 2024.
Pre-conference speculation swirled that Republican Senator Lummis intended to announce a Bill requiring the US to purchase Bitcoin as a strategic asset.
As it turns out, occasionally the rumour mill on crypto Twitter is right, as Lummis took the stage and proposed the US Government buy 1M BTC between now and 2030.
This legislation – which would obviously need a lot to go right in the House and Senate – was notionally supported by Trump, who demonstrated interest in some form of “strategic national Bitcoin reserve”.
Another presidential candidate, independent politician Robert F. Kennedy Jr., stole headlines at the event thanks to his support for Trump’s pledge to build “Bitcoin Fort Knox” within the US Government’s portfolio. However, RFK took it one step further, promising to pass legislation that would require the US to buy 550 BTC every single day.
Meanwhile, the CEO of prolific asset management company, VanEck, announced to enthused onlookers that “way over” one-third of his entire portfolio is held in BTC
Not every appearance at Bitcoin 2024 was so brash in its political support for the crypto market. Infamous whistleblower and former NSA employee, Edward Snowden, appeared at the conference remotely to discuss BTC and government interest in the asset class.
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In shades of Vitalik Buterin’s controversial blog post, Snowden urged the crowd to avoid joining “a cult”, and argued that the reality of different governments is hardly noticeable for the everyday worker.
A given election tends to result in what feels like a different uniform on the same cop…and that’s a problem.
Edward Snowden 
Author
Ben Knight
Ben Knight is a writer and editor from Melbourne with a passion for all things music and finance. He enjoys turning complex topics – especially the technical details of cryptocurrency – into digestible bites that anybody can understand. He acquired his Master’s in Writing, Editing and Publishing from RMIT in 2019 and has run his own creative writing business ever since.
