Vice President JD Vance has put his support behind Bitcoin in line with the Trump administration's wider admiration for cryptocurrency, and has also revealed his own personal crypto coin stocks leaving many shocked.
It has been a bumpy ride for anyone bold enough to hold on to Bitcoin over the past year, as a proverbial rollercoaster of price peaks and troughs have fallen in line with many of the United States' biggest political moments.
Cryptocurrency enthusiasts experienced a major boon when Donald Trump was elected president back in November last year, as the price soared from around $68,000 per coin to a record-smashing $106,147.29 midway through December as a reaction to Trump's vocal support of crypto.
Enthusiasm continued into the early months of Trump's second term, especially after the president made progress towards establishing a national cryptocurrency reserve and a working group for the unregulated economy, but that optimism wouldn't last.
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Prices began to tumble as we moved into March, both in response to major AI shake ups and significant stock market volatility after Trump's controversial tariff plans, leaving the price to drop all the way down to $76,273.56.
Recent weeks have seen Bitcoin recover in miraculous fashion though, and Vice President Vance's latest comments might continue to fuel investment towards a new peak.
What did JD Vance say about Bitcoin?
As reported by Forbes, JD Vance issued a bold prediction for the future of Bitcoin that is likely to make existing investors feel more confident in their holdings.
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"Fifty million Americans own Bitcoin. I think it's gonna be 100 million before too long," prophesized Vance, when speaking at the recent Bitcoin 2025 conference.
It won't be the case where every American will own one Bitcoin equally - especially as the maximum supply of the cryptocurrency is at just 21,000,000 - but with an enhanced emphasis and support from the government, it's not difficult to imagine a future where roughly a third of the country holds some form of Bitcoin in the same way that they do stocks.
Vance also argued that "crypto is a hedge against bad policy making from Washington, no matter what party is in control," implying that its separation from the US Dollar - which reflects the global status of the American government - makes it a more reliable economic form, although 'consistent' is one of the last words that even experts would use for Bitcoin.
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Moreover, he also uses China's supposed 'opposition' to Bitcoin as the reason why America should continue head first into the world of crypto, outlining: "If the communist Republic of China is leaning away from Bitcoin, then maybe the United States ought to be leaning into Bitcoin."
How much crypto does JD Vance personally own?
One somewhat surprising reveal during JD Vance's speech at the Bitcoin 2025 conference is that of his own personal cryptocurrency holdings, which serve as proof of his commitment to the deregulated currency.
Vance indicated that he still holds a "fair amount of Bitcoin today," but how much that actually amounts to if currently unknown. Federal disclosure data submitted last year revealed that Vance owned between $250,000 and $500,000 worth of Bitcoin, as per CBS News, but it's unclear whether he sold part of that in one of the many spikes following his victory with Trump.
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Additionally, what was $250,000 to $500,000 before the election last year will be worth far more now, with the price increasing by roughly 50%. If he held on to all of his stocks they would probably be now worth anywhere between $375,000 to $750,000, and that's not counting any money he might have earned from the president's own crypto meme coin.
How has Bitcoin responded to Vance's comments?
Surprisingly, despite a major pledge of support from one of America's most powerful individuals, Bitcoin has actually only declined in price over the last day or so.
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According to data from CoinMarketCap, Bitcoin settled at around $109,038.71 on May 28, before tumbling all the way down to $105,896.36 today. This might not seem like a major fall - and Bitcoin has had far lower drops - but it could be reflective of investors trying to respond to Vance's positivity by selling, causing the price to drop.