Miami Bitcoin Conference To See Fewer Attendees This Year: Here's Why

The decreased excitement in the crypto industry seemed to have affected Miami's Bitcoin conference, with the footfall this year expected to be less than half of 2022.

In 2022, the "world's largest Bitcoin gathering," as it is referred to by the organizers, had over 35,000 attendees, while this year, the footfall is expected to be less than half. According to its official website, the conference, which will be held from May 18- 20, is expected to have 15,000 attendees.

It will feature prominent speakers, including U.S. presidential candidate Robert F. Kennedy and the author Michael Lewis. Last year, the conference featured 450 speakers, 3,000+ companies, and 100+ artists over a span of four days.

This year's conference will be held over three days, starting with a Miami Beach welcome and ending with a Saturday after-party.

The upcoming Bitcoin conference will showcase more than 180 presentations. Some of the session titles include "From Prosperity to Decline: Wall Street & the FTX Aftermath," "The Significant Debate," and "Harnessing Bitcoin for Nuclear Energy."

Interesting events like Bitcoin Bazaar and Bitcoin games have also been planned to keep up the excitement of the attendees about cryptocurrencies.

A regular ticket is priced at $999, while an "Industry Pass" that includes exclusive access to the "Official Networking App" is available for $2,299.

Over time, Miami has emerged as a center for the advancement of blockchain technology. It has introduced its own CityCoin, making it the inaugural city in the United States to do so. Additionally, Miami was selected as the first non-EU location to establish a decentralized air-quality monitoring network, which is hosted on the Algorand Blockchain.

The speculation is that this year's reduced footfall has nothing to do with the ticket prices, but the ongoing crypto winter.

The drop in prices of Bitcoin and other cryptocurrencies in the past year has led numerous companies to reduce their travel and marketing expenditures, resulting in a decrease in participation at cryptocurrency conferences.

While some experts are still optimistic about the growth of the crypto market in general, a lot of the enthusiasts are leaving the space and hence a lower footfall at several crypto events has been witnessed recently.

At 2.45 a.m. ET, Bitcoin was trading at $26,917, down by 1.12% compared to the same time Thursday, according to CoinMarketCap data. The cryptocurrency market cap was also down by 0.76% to $1.13 trillion.