One of the largest cryptocurrency events of the year has packed up after this past weekend—to a surprisingly lower attendance rate than in previous years.
- The Bitcoin 2023 Conference was hosted this past weekend in Miami from May 18 to 20.
- The event was headlined by notable speakers, including presidential candidate Robert F. Kennedy Jr. and bestselling author Michael Lewis.
- Despite being one of the largest crypto events of the year, the event saw a notable decline in attendance—from 35,000 in 2022 to 15,000 this year, Yahoo reports.
- Experts blamed the 50% attendance drop on the ongoing “Crypto winter.”
Why It’s Important
Despite a recent rally in Bitcoin valuations, the “Crypto winter” continues to dog the cryptocurrency economy and cool expectations for the future of decentralized finance. Bitcoin is currently valued above $27,000, well above its winter low of $16,500 but below its absolute peak of above $65,000 in November 2021.
The Bitcoin Conference is one of the largest annual cryptocurrency events of the year. Events like the conference play a significant role in the promulgation of the industry, creating opportunities for teams and colleagues that generally remote work around the world to gather, network, and discuss the direction of the industry. This year’s event hosted 180 discussion panels—including the impact of FTX’s collapse and Bitcoin’s influence on nuclear power.
While momentary crypto decline, financial firms and general interest appear to be declining, resulting in many firms cutting back on travel expenses, Yahoo notes.
“As president, I will make sure that your right to hold and use Bitcoin is inviolable. I am an ardent defender and lifelong defender of civil liberties. Bitcoin is both an exercise and a guarantee of those freedoms,” says Kennedy, who defended the Canadian trucker protests.
“None of these lawful and peaceful protestors had violated any law. But suddenly, they found that they could not access their money, their bank accounts to pay their mortgages or feed their families. When I witnessed this devastating use of government repression, I realized for the first time how free money is as important as free expression.”