U.S. Vice President J.D. Vance expressed his views on Bitcoin, referring to it as "digital gold for the modern age." He emphasized the importance of supporting innovation and fair competition in the crypto industry.
Vance's Thoughts on Bitcoin
J.D. Vance candidly discussed his Bitcoin holdings, stating, "I’m an owner of Bitcoin here, but I’m also the Vice President of the United States, so I want to be careful." He added that Bitcoin's core utility lies in its role as a digital method for storing and transacting value, much like cash or gold in earlier generations.
Support for Innovation and Market Choice
Vance pointed out that all new technologies carry risks. However, he emphasized that the Trump administration's approach is to let innovation thrive, allowing the free market to determine winners and losers. "If the critics of Bitcoin are right — and I happen to think they’re wrong — the market will prove that out. If the advocates are right — and I happen to agree with them — the market will also validate that over time," he stated.
Integration of Cryptocurrency into Mainstream Economy
Vance also stressed that the cryptocurrency industry should participate in the mainstream economy. He stated, "We want the cryptocurrency industry to participate in the mainstream of the economy." These remarks underline the Trump administration's ongoing shift toward pro-crypto policies, including recent approvals of Bitcoin ETFs and regulatory pushback against anti-crypto legislation.
J.D. Vance's position on Bitcoin reflects the growing support for digital assets among political and institutional circles in the U.S., which could lead to significant changes in the regulation of the crypto industry.
