At the Bitcoin 2025 Conference in Las Vegas, Nevada, on Wednesday, Vice President JD Vance spoke about the transformation of digital currencies.
Category
🗞
NewsTranscript
00:00It's about a few things and I want to talk a little bit about what we've done
00:04in the Trump administration. I want to give you a rundown of what this
00:08administration is doing on digital assets policy, but I also want to talk
00:13about some of the principles that help guide us as we develop this policy. But
00:18before that, I want to speak about why I'm personally optimistic about crypto
00:22and what it means for the American people. Now people ask me why I tend to
00:27be bullish on the future of innovation in this country. I spent enough time in
00:31Silicon Valley to recognize the difference between good tech, technology
00:36that boosts our productivity, makes our lives richer, that grounds us in the real
00:42world and complements our day-to-day lives. That's the good technology, but there's
00:46also some bad technology out there. And when it comes to crypto, I think the last
00:51several years have made it clear that we're talking about genuine, ground-up
00:56innovation, one that's already improving the well-being of tens of millions of
01:01our fellow citizens. I believe it's 50 million Americans own Bitcoin, and I
01:06believe that's going to be a hundred million before too long.
01:14But it's not just about Bitcoin and about the value that's been generated, the
01:19wealth that's been generated by so many millions of our fellow citizens. Through
01:23decentralized finance, crypto has transformed how Americans transact with one
01:29another. It's expanded access to banking for many who may not otherwise have had it.
01:35And every single day, I feel like I see some groundbreaking new use of blockchain
01:40tech, whether it's in supply chain management, whether it's in hospitals, or
01:46whether it's in changing how we track and store patients' private health records. But for each of these news,
01:53two, forward-looking applications, I also feel like there's an incredibly value
01:58conservative element to crypto technology. And that's as a hedge. Crypto is a hedge
02:05against bad policymaking from Washington, no matter what party is in control. It's a
02:11hedge against skyrocketing inflation, which has eroded the real savings rate of
02:17Americans over the last four years. And as you all know well, it's a hedge against
02:23the private sector that's increasingly willing to discriminate against consumers on the basis of
02:29their basic beliefs, including their politics.