Inside the Bizarre World of Trump’s Bitcoin 2024 Conference Appearance
Downtown Nashville was transformed into a vibrant spectacle as thousands of crypto enthusiasts gathered for the Bitcoin 2024 conference. Attendees, decked out in Bitcoin orange and “Make America Great Again” red, witnessed a historic event as both Robert F Kennedy Jr and Donald Trump delivered keynote addresses, marking a significant intersection of cryptocurrency and politics.
Bitcoin, which has been around since 2009, saw its annual conference host two U.S. presidential candidates for the first time. Robert F Kennedy Jr, a known Bitcoin supporter, and Donald Trump, who only recently endorsed Bitcoin after years of skepticism, spoke to an audience that felt more like a voting bloc than a mere collection of enthusiasts.
Marshall Beard, COO of the cryptocurrency exchange Gemini, highlighted the political weight of the crypto community, claiming that a candidate’s stance on cryptocurrency could sway seven in ten U.S. crypto owners. However, a 2023 Pew Research Center survey indicated that only 17% of U.S. adults have ever purchased cryptocurrency, predominantly men under 50.
I attended the final day of the conference to witness Trump’s much-anticipated speech. The previous days had featured addresses from RFK Jr and Edward Snowden, along with numerous panels discussing the future of Bitcoin. Attendees, many of whom shared similar political views to Trump supporters, expressed a belief that they were under attack from elites and the current administration.
Trump’s merchandise, including gold sneakers, T-shirts with his mugshot, and NFTs depicting him as various heroic characters, underscored the shared flamboyance between him and the Bitcoin community. The conference itself featured a peculiar array of booths, from “Bitcoin panties” to paintings of January 6-style events, and even a device that warmed water using excess heat from Bitcoin mining rigs.
The room, dimly lit with a neon orange glow, was filled with around 8,000 people according to David Bailey of Bitcoin Magazine, though a more conservative estimate would be closer to 2,000. The male-dominated crowd, approximately 85%, created an unusual scene with long lines for the men’s restroom and none for the women’s.
When Trump finally took the stage, 90 minutes late, the energy in the room was palpable. He deftly played to the crowd, shifting from solemn topics like the Hezbollah attack on Israel to excitedly acknowledging recognizable attendees like Kid Rock and Billy Ray Cyrus. Trump emphasized the intelligence of his audience, calling them “geniuses” and “very smart high-IQ individuals.”
The highlight of Trump’s speech came when he promised to fire Gary Gensler, the chair of the Securities and Exchange Commission, on his first day in office. The audience’s enthusiastic response took Trump by surprise. Gensler has been a contentious figure in the crypto world, labeling the Bitcoin industry as “rife with fraud.”
Despite expectations that Trump would detail specific Bitcoin policies, he only affirmed general support for Bitcoin-friendly measures. He stopped short of RFK Jr’s bold proposal to have the U.S. Treasury buy $4 million worth of Bitcoins, which he claimed would lead to a valuation in the “hundreds of trillions” of dollars. Trump instead focused on making America the “Bitcoin superpower of the world.”
Trump’s rhetoric resonated with the crowd, who felt vindicated by his support. He likened the attacks on Bitcoiners to his own experiences, stating, “They slander you as criminals, but that happened to me too, because I said the election was rigged.”
The conference highlighted a shift in Bitcoiners’ attitudes, who now see themselves as a politically significant group. As the event concluded, it was clear that the intersection of cryptocurrency and politics is only growing, with Bitcoiners ready to defend their interests in the face of regulatory scrutiny.
Explore the unique and surreal atmosphere at Trump’s Bitcoin 2024 speech in Nashville, where cryptocurrency enthusiasts and political supporters converge.