- Vice President J.D. Vance thinks Bitcoin is the answer to everything—government, inflation, your ex’s bad cooking.
- He’s calling stablecoins a ‘force multiplier’—which sounds impressive, but I’m still not sure what that means.
So, U.S. Vice President J.D. Vance is making headlines today, backing Bitcoin [BTC] like it’s the last slice of pizza at a party. He claims it’s a “genuine ground-up” innovation. Ground-up? More like ground-up in a blender!
During his keynote at the Bitcoin Conference in Las Vegas—because where else would you talk about crypto?—he said,
“50 million Americans own Bitcoin, and I believe that’s going to be 100 million before too long.”
He’s also singing the praises of DeFi (decentralized finance), which is apparently helping unbanked citizens. I mean, who needs banks when you have a smartphone and a dream, right?
Crypto as a hedge
The V.P. acknowledged crypto’s conservative elements—because nothing says “conservative” like a volatile digital currency. He elaborated on its use as a hedge against bad governance, inflation, and political witch-hunts. Sounds like a fun party!
“Crypto is a hedge against bad policymaking from Washington, no matter what party is in control. It’s a hedge against skyrocketing inflation, which has eroded the real savings rate of Americans.”
For perspective, BTC’s annual inflation rate dropped to 0.84% after last April’s halving. That’s right, folks! It’s like a diet for your money—less is more!
Meanwhile, the U.S. inflation rate is hanging around 3.4%. And with a fiscal debt of $36 trillion, it’s like trying to save money while living in a house with a leaky roof. Good luck with that!
Oh, and let’s not forget, the Vice President declared the Biden-era crypto-debanking (Operation ChokePoint 2.0) “dead.” I guess that’s one less thing to worry about, right?
He also mentioned that the administration is working on regulatory clarity for stablecoins. Because nothing says “trust me” like government regulations!
“We do not think stablecoins threaten the integrity of the U.S dollar. Quite the opposite. In fact, we view them as a force multiplier of our economic might.”
Vance claims that after passing the stablecoin bill, the GENIUS Act, they’ll focus on the crypto market structure bill. Genius? More like “let’s see how this plays out.”
His bullish stance on Bitcoin isn’t shocking, especially since he’s a known holder. In fact, Vance reportedly owns BTC worth about $250k-$500k. So, he’s not just talking the talk; he’s walking the walk—right into a crypto minefield!
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2025-05-30 08:10