Day One of Bitcoin MENA 2024 has drawn to a close with thousands of visitors having witnessed key insights from the global industry’s leaders.
Asthe world’s largest and most globally recognized conference brand dedicated to the adoption of Bitcoin and blockchain technology, the Bitcoin Conference covers new banking and finance innovations, the dynamics of Mining and AI usage, and green energyamong themes.
A packed Fireside Chat featured Changpeng Zhao of the Giggle Academy discussing the rise of Bitcoin as a utility-based asset that reached a $100,000 price point within just 17 years. As Bitcoin was a utility-based asset that holds far more than just monetary value, Zhao believes that nation states may adopt the digital currency as a reserve asset. He also predicted that up to 20% of the population would soon adopt Bitcoin with much higher adoption rates expected in the future.
At a panel entitled ‘How Nations Around the World Are Shaping Bitcoin’s Regulatory Landscape’, Irina Heaver of Neos Legal, Vishal Sacheendran of Binance, Sudhu Arumugam of M2, and AJ Nelson of Rain exchanged insights on the UAE’s proactive stance in fostering regulatory compliance and trust while maintaining momentum in innovation, Bahrain’s leadership in cryptocurrency regulation, and how exchanges are responsibility of educating consumers on both the advantages and risks associated with Bitcoin as a critical step to increasing global adoption.
In a talk entitled ‘Bitcoin, Institutions & The Future of Crypto’, Lukas Enzersdorfer-Konrad of Bitpanda explored the growing integration of Bitcoin into corporate strategies. Enzersdorfer-Konrad highlighted that corporations are increasingly looking to add Bitcoin to their balance sheets to create exciting opportunities. Bitpanda is actively assisting financial institutions across Europe and the Middle East to incorporate new crypto offerings into their services.
A Panel on ‘NFL Players on Bitcoin’ saw Matt Barkley (NFL/Silverlight Asset Management), Mohamed Sanu (Legacy Sports Complex, Tru Sox), and Antonio Brown (CTESPN) discussing the concept of greatness, with each former NFL player reflecting on how work ethic and incremental gains shaped their careers. They drew parallels between Bitcoin’s potential for long-term value growth and the dedication they applied to achieving success in football.
At a Fireside Chat on ‘The Journey to $100k and Where We Go from Here’, Star Xu, CEO and Founder of OKX, spoke about his company’s partnership with McLaren’s F1 race team as an example of innovative marketing that has brought new consumers into the cryptocurrency through an emphasis on self-ownership and autonomy for consumers and corporations.
A Panel on ‘The State of Bitcoin in the UAE’ with Bruce Fenton of Chainstone Labs, Basil Al Askari of MidChains, Abdulla Aldhaheri of The Blockchain Center Abu Dhabi, and Odey Qemal of Zawda discussed the UAE’s leadership in Bitcoin adoption and innovation with sovereign funds and emerging businesses, rapid local development of the industry, evolving pro-banking regulations for the influx of new users into the ecosystem, and the importance of education for Bitcoin usage.
In a session on ‘Why Nation States Are Turning to Bitcoin’, Frank Corva of Bitcoin Magazine, Karthik Iyer Jayaraman of P2PFOUNDATION, Marwan Al Zarouni of the Dubai Department of Economy & Tourism, and Prince Filip of Serbia discussed the importance of education in adopting Bitcoin, positive outcomes from focusing regulations on exchanges rather than on assets, and the prospects for making innovative use of Bitcoin mining to consume surplus energy.
A keynote speech by Nick Neuman of Casa explained that nations had long relied on tangible assets like gold as a store of value and economic security illustrated Bitcoin’s advantages over these traditional assets. Bitcoin has the potential to overtake gold as the world’s leading reserve asset, particularly as governments and institutions continue to embrace it, though self-custody was essential given that Bitcoin should not be held by any third party.
A series of insightful sessions on the Genesis Stage looked at many facets of the Bitcoin revolution with themes including the promise of a value-driven Bitcoin standard future, the currency’s potential to become the 21st century’s digital gold, significant local merchant adoption of Bitcoin, and the rise of Bitcoin’s market value and likely growth as a global strategic asset.
Speakers at the Proof of Work Stage covered the Middle East’s emergence as an attractive hub for Bitcoin,the transition of mining operationsto a zero-carbon future with green energy jobs and climate change mitigation, the promise of omnichain technology for redefining asset transfer, and the integration of Bitcoin mining with real estate construction to reduce energy costs.
Taking place from December 9-10th at the ADNEC Centre Abu Dhabi and co-organised with BTC Inc., the inaugural Bitcoin MENA is a significant milestone in the world’s largest Bitcoin conference’s expansion into the investment-friendly, dynamic, and rapidly growing MENA region.
