Published: 04/10/2022 | Author: Galin Ma

Bitcoin Conference 2022 has just wrapped up this past week and one of the major themes of this year’s conference was the positives of regulatory awareness and institutional adoption. Generally, there has been a negative association between regulation and crypto. However, in this conference we hear prominent figures like Michael Saylor, Kevin O’Leary, Peter Thiele, and US Senator Cynthia Lummis be major proponents of clear crypto regulation so that trillions of dollars of institutional capital can be deployed into Bitcoin and other cryptocurrencies. One of the major trends for 2022 and beyond is even further mainstream adoption by Wall Street funds and investors worldwide. We also hear real use cases of Bitcoin with Bitcoin’s impact on the war in Ukraine being in the forefront. Governments and people all over the world have sent the Ukrainian government millions of dollars worth of Bitcoin as aid. In turn, the Ukrainian government has used the funds as early as the next day to buy food, military equipment, and supplies for its people, whereas it would have been almost impossible to do the same with fiat currency. Here are some highlights from the Conference as I listened in:

Michael Saylor and Cathie Wood on Institutional Adoption and Education

Saylor and Wood both highlighted the importance of educating leaders of governments and corporations on the importance of Bitcoin being sound money. As we shift from a low-regulation, low-inflation environment in the 2010’s to the opposite environment moving into the 2020’s, the impact of the government on currencies and the flow of money will be more prominent in both equities and currencies. Bitcoin, Ethereum, and other digital currencies provides asset allocators to diversify away from government control. Saylor also reiterates his view on Bitcoin as a superior asset to gold while Wood shares on how there has been increasing bipartisan support on Capitol Hill for Bitcoin and digital currencies. This is a dramatic change in sentiment for the US government and will provide the clarity that investors need to be able to invest freely into Bitcoin.

Kevin O’Leary Shares on the Bitcoin Community Should Desire Regulation

Back in 2018, Kevin O’Leary publicly denounced Bitcoin in his interview segments on CNBC, most notably with Anthony Pompliano, host of the Pomp Podcast. Now, “Mr. Wonderful” (O’Leary), is a major proponent of Bitcoin. At the Conference, he shares that trillions of dollars are waiting on the sidelines to be deployed to buy Bitcoin and crypto because there is a lack of crypto regulation, but that is quickly about to change. Once we get clear regulation of Bitcoin and other digital currencies and assurance that the government won’t reverse course, most institutional funds will deploy 50 to 300 basis points of capital to Bitcoin. He also shares that Bitcoin can satisfy ESG concerns with a simple solution to use Hydro-electric power to be carbon neutral. O’Leary emphasizes that we should advocate and embrace regulation, and that when regulation comes, we will see prices for Bitcoin and crypto increase even further.

US Senator Cynthia Lummis Shares the Enthusiasm in Senate on Crypto Regulation

Cynthia Lummis is one of many Senators on board with sharing the benefits of Bitcoin and the importance of Bitcoin regulation. She shares that during this past year, Senators have been exposed to real positive use cases of Bitcoin such as the ability to easily track Bitcoin transactions and the usage of Bitcoin in the war in Ukraine. In the sanctions on Russia, crypto exchanges have been able to partner with world governments and Chainanalysis to block crypto transactions to Russia whereas fiat currency can be more difficult to trace. Lummis also shares that Bitcoin was able to immediately impact those affected by the War in Ukraine by supplying those in need with medicine, food, water and supplies through a $10 million dollar aid package that included Bitcoin. The Bitcoin sent was used to buy aid and distributed the next day whereas it would have been much more difficult and slower with fiat currency. Lummis shares that other politicians have been opening up to Bitcoin after seeing these real positive use cases.

Peter Thiel Shares His Vision of How Bitcoin can Reach $1M per Bitcoin by 2030

Peter Thiel is a co-founder of PayPal and shares his views on how Bitcoin will continue to displace the Gold and equity market values in the years ahead. He also believes that because currencies, equities and commodities are all interwoven with the government, more and more investors will move towards a decentralized alternative. He argues that once equities issue stock, companies are instantly exposed to government interests and Wall Street lobbyists, PayPal included. He explains that because of this, equities are inherently risky as we move toward a more government-controlled market environment going forward with inflation being the dominant story. Over time Bitcoin will take over more than the 100+ trillion-dollar equity market and when it does, Bitcoin prices will be near $1M per Bitcoin. He also explains that the ESG argument is an example of how government can abuse power and that Bitcoin can help us move away from government influence.

Key Takeaways and Preparations for the Future

After listening to these speakers, I was amazed how much the narrative and rhetoric of regulation and adoption has evolved. It also gave me a sense of urgency of needing to prepare for the next bull run because we are so close to the US government being fully on board with crypto. All speakers shared how the US government is not pro-crypto and it’s only time until the US becomes the hub of crypto innovation and adoption. Speakers shared about the shift of the power of Bitcoin from China to the West as China moves forward with their own CBDC and more centralization. As regulation becomes more clear in the US, we could see trillions of dollars flow into Bitcoin and other cryptocurrencies.

Keep posted on our next podcast episodes as we start a trading series on trading crypto and you can capitalize and prepare for the price movements coming up caused by what these prominent speakers say is happening in the crypto, financial and government spaces now. Keep learning and be prepared for what’s about to come!