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Miami’s “Bitcoin 2021” Recap – 5 Key Moments. Who Let The Dogs Out?

  • The largest crypto conference in the world saw a gathering of 12k visitors at minimum.
  • El Salvador wants Bitcoin as its currency.
  • Anti-Musk sentiments arise.
  • Jack Dorsey is ready to leave Twitter for Bitcoin.
  • DOGE fan crashes the party.
  • The Winklevoss brothers expect a $10 trillion BTC market cap.

Almost 12,000 crypto enthusiasts flooded Miami, Florida last weekend for the world’s largest crypto conference “Bitcoin 2021.” The largest physical crypto event since the pandemic commenced at a point wherein the leading digital coin had suffered a severe price drop.

The annual conference moved from L.A. to crypto-friendly Miami, which aims to become a crypto tech hub. Miami’s Mayor, Francis Suarez, declared earlier this year that he wishes to enable Miami residents to pay their taxes with cryptocurrencies.

Bitcoin 2021 featured star speakers like Twitter CEO Jack Dorsey, the Winklevoss twins, and Bitcoin pioneer Nick Szabo. Here are the key take-aways gathered from the world’s largest Bitcoin conference:

1. El Salvador Wants Bitcoin as Its Currency

The President of El Salvador made a video announcement during Bitcoin 2021, claiming that his country may start accepting bitcoins as legal tender. He promised to send the bill to Salvadorian congress meaning that, should the institution pass the legislation, El Salvador would become the world’s first country to use Bitcoin as a legal form of money.

On the Flipside

  • Although the conference’s audience welcomed the message with a standing ovation, the volatility and ambiguous legal status of Bitcoin still raise questions about how practical it would be as an alternative to fiat currencies in daily transactions.

2. Anti-Musk Sentiments Arise

The attendees of Bitcoin 2021 viewed Elon Musk’s influence over cryptocurrency markets with animosity.

The Tesla CEO is both famous and infamous in the crypto space for his Bitcoin and Dogecoin tweets, which usually result in sharp price changes. Musk tweeted a broken heart emoji regarding Bitcoin the day before the conference, resulting again in a 7% BTC price drop, further contributing to his infamy.

Alex Mashinsky, the CEO of Celsius Network, dubbed Elon Musk a “tourist” in the crypto space who simply aims to gain more followers. He asserted that the crypto industry does not need Elon Musk, though he remains the largest cryptocurrency influencer.

On the Flipside

  • Elon Musk prohibited Bitcoin payments for Tesla recently, citing environmental issues and high energy consumption. His stance towards BTC has been increasingly critical since then, leaving the cryptoverse struggling to understand his motives.

3. Jack Dorsey Is Ready to Leave Twitter for Bitcoin

The creator of Twitter and Square CEO, Jack Dorsey, declared his love for Bitcoin, saying that, in his lifetime there is nothing of more importance to work on.

The billionaire stated that “Bitcoin changes absolutely everything.” He further added that he would be open to leaving his current positions for Bitcoin if it “needed more help than Square and Twitter.”

On the Flipside

  • Jack Dorsey may be a true believer, but he also has a personal stake in Bitcoin. His company, Square, has just invested $5 million to build a solar power based Bitcoin mine.

4. DOGE Fan Crashes the Party

An anonymous Dogecoin fan went viral after he crashed Bitcoin 2021. The man stormed into live crypto discussions and tore his suit off while shouting: “Dogecoin to the moon!”

Security quickly evicted him from the event, however, the question yet remains: who let the dogs out? Was it an accident, or was it perhaps a quirky marketing move? Just a conspiracy theory for your consideration.

On the Flipside

  • While some users suggest turning the video into an NFT, others believe that such moves make the leading meme coin look childish. Germany’s Tesla taxis, meanwhile, have started accepting DOGE as a payment.

5. The Winklevoss Brothers Expect a $10 Trillion BTC Market Cap

The famous entrepreneurs, Tyler and Cameron Winklevoss, were among the brightest guests of Bitcoin 2021. The twins, both Bitcoin investors, participated in a discussion with Anthony Pompliano, where Tyler openly referred to the US dollar as a “shitcoin”.

He later compared Bitcoin to gold, and expressed the belief that BTC will potentially grow up to 10x to reach the $10 trillion market capitalization of gold. “At a $10 trillion market cap we think one bitcoin will be worth $500,000 and we think that could happen inside this decade … We’re HODLers until at least $500,000,” he said.

On the Flipside

  • The Winklevoss twins are crypto pioneers with up to $6 billion in Bitcoin holdings. The owners of the crypto exchange ‘Gemini’ may have a mutual interest in Bitcoin’s growth and success.

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    This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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    Author

    Simona is a fintech journalist and content editor at DailyCoin Academy, which focuses on educating new crypto investors. She entered the crypto space in early 2018, got burned, but discovered a passion for trading, and now it’s her hobby. Simona covers crypto and blockchain-related topics and takes a deeper look at what lies behind the latest industry trends.