U.S. Vice-President J.D. Vance swooned over Bitcoin and crypto currencies, speaking at the Venetian Hotel in Las Vegas yesterday to over 30,000 participants of the Bitcoin 2025 conference. He was joined by Donald Trump, Jr. and Eric Trump, the President’s two sons, who have become “stars in the Bitcoin firmament.” Many speculators spoke.
The participants were there to promote Bitcoin and crypto—instruments that are not used for productive purposes, and have no real value—which are being employed by the City of London and Wall Street financiers in an attempt to overthrow and replace the sovereign credit and currency of the United States and other nations. The only difference between the crypto and the 1636-37 Tulip Bubbles is that when the Tulip Bubble crashed—and the crypto bubble will crash—the former bubbles’ investors at least got to hold a few tulip bulbs.
Vance bellowed to the crowd, “We have a once-in-a-generation opportunity to unleash innovation and use it to improve the lives of countless American citizens.” How a Bitcoin bubble is supposed to do that is left unsaid. He then gave a warning, “But if we fail to create regulatory clarity now, we risk chasing this $3 trillion industry offshore in search of a friendly climate.”
What Vance was referring to and supporting, is S.954, the BITCOIN Act of 2025, which was introduced before the current Congress by Sen. Cynthia Lummis (R-WY) and Rep. Nick Begich (R-AK). The bill would recognize Bitcoin as a strategic national asset, and establish a Strategic Bitcoin Reserve to supposedly support the nation’s balance sheet. The bill would direct the United States Treasury to purchase 1 million Bitcoins, and other cryptocurrencies, over a five- year period. Since Bitcoin is trading at $108,000 per “coin,” that would mean, were the U.S. government to buy only Bitcoin, the government would fork over $108 billion to enrich those who hold Bitcoin, and, in part, underpin the U.S. credit system by this worthless computer-generated asset. The so-called regulations would be set to give crypto unimpeded growth.