Last week and into the weekend marked a milestone moment for Web3 with 2024’s Bitcoin Conference and Inscribe Nashville. The Bitcoin Conference was packed with historic moments, including Donald Trump headlining the event on Saturday. Some of my favorite moments included Trump predicting Bitcoin’s market cap might surpass gold, advocating for Bitcoin as a strategic reserve, pledging to fire Gary Gensler on day one, and expressing admiration for the camaraderie in the crypto space. He seemed genuinely impressed by the collaborative spirit, noting it's something he's not used to seeing in his
business dealings.
Senator Cynthia Lummis also made waves by proposing that the US government hold 5% of the total Bitcoin supply. Meanwhile, RFK Jr. suggested the government should hold as much Bitcoin as it does gold. Could you imagine crypto being discussed this way just a few years ago? I certainly
couldn't.
The crypto market—and hopefully NFTs—seem primed for new all-time highs in the near future. Though we still haven't felt the impact of the Mt. Gox Bitcoin distribution, and now we have the US government moving $2 billion worth of Silk Road Bitcoin from their wallet, likely to sell.
Still, sentiment is incredibly high in this space at the moment, and why wouldn't it be? ETH ETFs went live last week, and while trading was mostly outflowing volume, we saw roughly $3 billion in total volume in just four days. It's wildly impressive, and at some point, that’s going to flip to the
positive.