JD Vance Backs Bitcoin Push While Trump Media Firm Plans $2.5B Raise

JD Vance aims to expand Bitcoin ownership from 50 million to 100 million Americans.

Trump’s media company plans a $2.5 billion raise that includes building a Bitcoin treasury.

Peter Schiff challenges Bitcoin’s legitimacy and promotes gold as a safer alternative.

US Vice President JD Vance called for expanding Bitcoin adoption to 100 million Americans during a recent speech in Las Vegas. He cited current ownership estimates at 50 million and urged for broader participation in the digital economy. His remarks underscored the administration’s goal of making the US a global leader in cryptocurrency development.

Vance strongly criticized existing regulators, stating the administration intends to replace officials like Gary Gensler, the former SEC Chair. The comments drew support from crypto advocates seeking regulatory clarity. His speech suggested that a friendlier stance towards digital assets is a central part of the administration’s future economic agenda.

Trump Media Company Targets $2.5B Raise with Bitcoin Plans

The announcement followed news from Trump’s media company, which revealed plans to raise $2.5 billion. A portion of this funding is expected to go toward establishing a Bitcoin treasury. The move signals growing alignment between digital asset strategies and the administration’s broader financial outlook.

Economist and gold advocate Peter Schiff responded critically to Vance’s message. Schiff argued that Bitcoin has not created real wealth and claimed it shifts money from late adopters to early investors. He urged the government to focus on policies that lower inflation rather than endorsing what he sees as risky financial instruments.

Vance Defends Crypto as Hedge Against Inflation

During his speech, Vance defended Bitcoin as a hedge against rising inflation and government mismanagement. He stressed that the US holds a rare opportunity to lead the digital asset space, warning that poor regulation could push the $3 trillion industry overseas. His remarks emphasized the economic significance of embracing blockchain innovation.

Schiff reiterated his belief in traditional assets like gold and silver. He claimed they offer more stability than digital currencies, which he believes are fueled by speculation. While Schiff acknowledged inflation concerns, he maintained that Bitcoin does not provide the long-term protection that physical assets can deliver.

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