- Bitcoin’s price has reached near its all-time high of $112,000, after recovering from April lows.
- Fears of a U.S. dollar crisis have helped push bitcoin’s market value to $2 trillion.
- JD Vance, U.S. vice president, predicts American bitcoin ownership will soon double to 100 million people.
- Vance expressed support for bitcoin as a strategic asset, especially in relation to competition with China.
- Donald Trump is described as a leading political figure supporting bitcoin, promising a U.S. strategic crypto reserve if elected.
Bitcoin’s price continued to trade just below its record level of $112,000 per coin following a sharp surge over the past month. This increase follows a recovery from the cryptocurrency’s April lows of $75,000. Top officials cited concerns over a U.S. dollar crisis as one reason for bitcoin’s jump in value and overall market capitalization reaching $2 trillion.
In a recent statement at the Bitcoin 2025 conference in Las Vegas, U.S. vice president JD Vance said that the number of Americans owning bitcoin could soon double. “Fifty million Americans own bitcoin. I think it’s gonna be 100 million before too long,” Vance told the conference audience. He added that he continues to hold a “fair amount” of the digital currency and considers it an important asset for the U.S. looking ahead.
Vance highlighted the significance of bitcoin in the context of the country’s rivalry with China. He pointed out that Chinese officials do not support bitcoin and encouraged American policymakers to consider why. “Why is our biggest adversary such an opponent of bitcoin, and if the communist Republic of China is leaning away from bitcoin, then maybe the United States ought to be leaning into bitcoin,” said Vance, as reported by Reuters.
He also acknowledged Donald Trump for his support of cryptocurrency. Speaking about the former president, Vance remarked, “I’m here today to say loud and clear with president Trump, crypto finally has a champion and an ally in the White House.” Last year, Trump announced he would propose creating a U.S. strategic bitcoin reserve if re-elected, according to remarks reported by Axios.
Bitcoin’s recent price surge follows growing institutional interest, including the adoption of strategies by major companies similar to those of investor Michael Saylor. The rise in digital asset investment comes amid broader market uncertainty and renewed discussion about alternatives to traditional monetary policy.
In summary, bitcoin’s value continues to climb as U.S. leaders and corporations show increasing interest in digital assets, with predictions of significant growth in American ownership in the near future.
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