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What Were the Major Takeaways from Bitcoin 2021?

Earlier in June, thousands of Bitcoin enthusiasts descended on the Wynwood Mana Convention Center in Miami with one goal: to glorify Bitcoin. CNBC reported this Bitcoin extravaganza as the biggest of its kind, with over 12k Bitcoin fans coming together.

The convention had Bitcoiners, ‘normies’, and even former Bitcoin skeptics, such as Mr. Wonderful, singing praises for the crypto. Predictably, the conference also featured plenty of Elon Musk-bashing — which he totally had coming after he arguably manipulated the Bitcoin market earlier this year.

This piece looks at some of the key highlights and takeaways from the event.

Miami was the site for Bitcoin 2021

Startups Expo

First, the conference doubled up as an expo. The exhibitor hall was lined with a number of crypto startups, including Moon, BitPay, BitStop, Banq, and Compass Mining. Moon execs displayed their crypto Visa cards which can be used to pay for purchases from any merchant that accepts Visa. BitPay wanted attendees to learn about their prepaid Mastercard that allows you to convert crypto to cash, plus their app-based crypto wallet.

BitStop didn’t come with their Bitcoin ATMs to the event, but they let people know that they can buy Bitcoin instantly with cash at any one of their 25 “Bitstops” located across the US. In addition, Banq showcased their crypto and NFT wallet at a different stand that you can use to purchase crypto and NFTs from as little as $5.

The startups expo was a key highlight of the event, given the Miami Mayor’s emphasis on the role of tech companies in making Miami the world’s crypto city.

Notable Speakers and Moments 

As you might expect from a conference there were plenty of notable speakers who took the podium over the course of Bitcoin 2021. You had all the regulars like Jack Dorsey and the Winklevoss Twins but also some newcomers like Miami Mayor Francis Suarez and boxer Floyd Mayweather.

Here’s a brief look at what everyone had to say about Bitcoin in 2021:

Mayor Francis Suarez

The mayor of Miami spoke about his efforts in transforming the metropolis into the “Bitcoin city of the world.” Suarez noted that this journey had the full backing of entrepreneurs and Bitcoin whales such as the Winklevoss twins.

Suarez also suggested that the city will consider paying workers in Bitcoin, besides accepting fees and taxes in crypto. When these proposals come to life, Miami will undoubtedly attract even more investments among crypto startups. and Borderless Capital,” said the Mayor, “were moving their US headquarters to Miami.” These are just some in a long list of tech companies that have relocated to Miami over the past year, most of which are already boosting the city’s efforts to become the world’s crypto city.

Twitter’s Jack Dorsey

Jack Dorsey, a notable Bitcoin fan, reaffirmed his support for the growth of Bitcoin as the internet’s native currency. “I don’t think there’s anything more enabling for people around the world”, said Dorsey, adding he would even leave his flagship companies Twitter and Square if Bitcoin ever needed his help.

Dorsey was among the high-profile individuals who gave Bitcoin the corporate stamp of approval at #Bitcoin2021. His “unconditional” support for Bitcoin only magnified the euphoria Bitcoin fans had.

The Winklevoss Twins

“If you own Bitcoin today, you will be a millionaire tomorrow,” was Cameron Winklevoss’ punch line. However, the 39-year founder of the Gemini crypto exchange was keen to note that it might take a long time before such success is realized.

Considering the euphoric atmosphere that engulfed the extravaganza, it’s doubtful that believers would heed such advice. The Winklevoss twins were among the first people to invest in the pioneer crypto, and are reportedly Bitcoin billionaires.

Floyd Mayweather 

Former professional boxer and crypto entrepreneur Floyd Mayweather shared his belief that “cryptocurrency is the new wave.” His sentiments resounded the Bitcoin FOMO that had brought the conference attendees together.

From his interview with Fox News during the event, Floyd believes that every person should have the freedom to choose which crypto they should own. That might not have gone down so well with the majority of the attendees, who were Bitcoin maximalists.

Anthony “Pomp” Pompliano

Digital assets hedge fund Morgan Creek Digital founder and Bitcoin bull Anthony Pompliano said he was “more bullish than ever” during an interview with Yahoo Finance at the event. When asked what’s the next big catalyst coming to Bitcoin after institutional and corporate adoption, he observed, “there’s one group of people left: the central banks.”

Pompliano’s mention of central banks might have rubbed Bitcoin believers the wrong way. Crypto maximalists generally disagree that central banks should dine with Bitcoiners. Still, there’s a consensus that until regulators soften their stance on digital currencies, crypto’s ascendance into the mainstream will remain constrained.

Nick Szabo

Nick Szabo, a digital currency pioneer and one of the candidates for Satoshi’s true identity focused his speech on the problems associated with traditional currencies. Szabo explained that Bitcoin solves challenges such as high costs and lack of transparency associated with fiat transactions. Szabo was dismissive of Fiat, asserting that it is dirty money.

Kevin “Mr. Wonderful” O’Leary

Canadian investor and Shark Tank star Kevin O’Leary has until only recently been a Bitcoin skeptic and has even said before that he won’t be pushing his money into this “giant nothing-burger.” However, after converting to the good side, he has been a welcome supporter of Bitcoin.

This was echoed in a post-event interview with Bitcoin Magazine, whereby he said the event had moved from being a “tiny little vertical to mainstream press, mainstream investors…mainstream everything.” Mr. Wonderful gave another seal of approval when he acknowledged “paying with Bitcoin for some heavy duty watch collectors was pretty cool.”

Key Takeaways 

Bitcoin 2021 was marked with excitement and optimism from both attendees and organizers. Most speakers hailed the crypto, high-profile people expressed their commitment to support Bitcoin’s growth, while whales doubled down on their intention to continue HODLing.

The next event, Bitcoin 2022, has been scheduled for Quarter 1 of 2022, and organizers are already urging Bitcoin fans to purchase discounted tickets.

Why Miami? 

The City of Miami has decided to go full crypto. Mayor Francis Suarez says that numerous tech companies have moved to the Magic City in the past year.

Per Suarez, the city has made great strides in setting up the foundation for a crypto hub. That includes heavy investments in crypto startups, regulations to promote the digital economy, plans to pay workers in BTC, and generally setting the mood right for a crypto frenzy.

Final Thoughts 

Bitcoin Conference 2021 was a major success, judging even by attendance alone — and this amid a pandemic. It goes to show that the spirit of Bitcoin is stronger than ever, even if the currency itself has taken a beating recently. The support by higher-ups is also a great deal. Their bullish sentiments are a sign that Bitcoin’s growth is set for the next level.

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Hope Mutie

About the Author

Hope Mutie

Hope Mutie is a professional writer and editor whose interests include fintech, cryptocurrency, and blockchain. She engages with crypto audiences by curating content that’s fun-to-read, educational, and offers unmatched value. Hope is part of the brilliant team at Go Full Crypto – a podcast and service that enables your transition into crypto.

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