Photos: Crypto Boosters Toast Bitcoin, Jeer Wall Street Over Cigars in Miami

A party vibe reigned at a conference where attendees mocked fiat currency and Peter Thiel slammed Wall Street ‘enemies’ of bitcoin

By Jenna Telesca
Updated April 8, 2022
Tap story

More than 25,000 bitcoin enthusiasts—more than double last year’s attendance—flocked to Miami this week for a cryptocurrency conference hosted by Bitcoin Magazine.

James Jackman for The Wall Street Journal

The crypto industry celebrated its growth with a slew of events across the city. Bitcoin’s price has been in a lull since November, but the industry arrived flush with cash from venture investment.

James Jackman for The Wall Street Journal

Miami Mayor Francis Suarez unveiled an 11-foot, 3,000-pound bull sculpture to rival the one on Wall Street. He has been working to raise the city’s profile as a crypto hotspot.

James Jackman for The Wall Street Journal

A party at the Versace Mansion featured live music, synchronized swimmers and lots of fresh seafood.

James Jackman for The Wall Street Journal

Fernando Morales predicted he would go through 500 hand-rolled cigars by the end of the party. Crypto firm Paxos hired his company, My Cigar Roller, for the event.

James Jackman for The Wall Street Journal

The party atmosphere extended to the conference center itself. A machine pumped fog into the audience during panels. Conference organizers distributed music-festival-esque wristbands to attendees to get in the door.

James Jackman for The Wall Street Journal

The expo floor had playful features including a large volcano sculpture and a mechanical bull.

James Jackman for The Wall Street Journal

Companies referenced in-jokes from bitcoin’s online culture like a digital filter that put laser eyes on passersby.

James Jackman for The Wall Street Journal

Professional athletes Odell Beckham Jr. and Serena Williams appeared on a panel hosted by Cash App that also featured quarterback Aaron Rodgers.

Professional athletes like Serena Williams made an appearance on a star-studded panel hosted by Cash App.

Mickey Pierre-Louis for The Wall Street Journal

Mainstream adoption and an $829 billion market cap have eroded bitcoin’s outsider status, but many panelists continued to promote it as anti-establishment.

Mickey Pierre-Louis for The Wall Street Journal

PayPal co-founder and multibillionaire Republican fundraiser Peter Thiel criticized Wall Street giants Warren Buffett, Larry Fink and Jamie Dimon as bitcoin skeptics.

Mickey Pierre-Louis for The Wall Street Journal

The bitcoin crowd voiced a strong dislike of traditional currencies, with some speakers using terms like “fiat fraud.” Artworks displayed in an exhibit mocked physical currency. The event’s app allowed art lovers to bid on pieces and buy NFTs.

James Jackman for The Wall Street Journal

Some speakers had business backgrounds. Orlando Bravo was among the investors—also including Dan Tapiero, Ricardo Salinas and Marcelo Claure—who argued that bitcoin is an important hedge against inflation.

Mickey Pierre-Louis for The Wall Street Journal

Fund manager Cathie Wood boosted bitcoin during her session.“The momentum is clearly behind bitcoin now.”

Mickey Pierre-Louis for The Wall Street Journal

Produced by Emil Lendof and Samantha Shanahan.
Additional reporting by Deborah Acosta and Mengqi Sun.
Cover photograph by James Jackman for The Wall Street Journal.

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