Crypto-Friendly Senator J.D. Vance, Trump's Running Mate, Has Been a Bitcoiner Since 2021
- WBOYOriginal
- 2024-08-15 06:38:26918browse
Vance and Trump, both members of a major U.S. presidential ticket, have publicly embraced the industry — marking a historic first.
Crypto-friendly senator J.D. Vance, who was tapped by former president Donald Trump last month as his running mate for the 2024 presidential election, has been revealed to be a Bitcoiner since 2021, according to new federal disclosures.
Vance and Trump, who are both part of a major U.S. presidential ticket, have expressed public support for the crypto industry — marking a historic first.
Vance Owns a Significant Stake in BTC
Disclosures reveal that JD Vance holds a substantial amount of Bitcoin.
His 2023 financial disclosure report shows that Vance owns $250,000 to $500,000 worth of Bitcoin.
Interestingly, this is not the first time that the Ohio Senator has disclosed his Bitcoin holdings. In a 2022 financial disclosure, the Republican senator reported holding Bitcoin (BTC) worth as much as a quarter-million dollars through Coinbase, and his 2021 candidate disclosure when he was vying for the Senate seat.
The precise amount of Bitcoin that Vance owns is not known, as federal law only requires U.S. lawmakers to provide a range for their assets. If the 39-year-old veteran of the Iraq war purchased his Bitcoin stash back in 2021 when the Bitcoin price was trading between $30K and $60K, his investment could be sitting on large unrealized gains. While Vance first disclosed owning Bitcoin during his 2021 Senate race, he hasn’t stated when he initially acquired the BTC.
The Bitcoin holdings constitute a small portion of Vince’s $4 million to $11 million assets, which include a home, a Schwab brokerage account, and college savings accounts for his three children.
Vance's Pro-Crypto Track Record
After being sworn into the Senate in 2022, Vance took the opportunity in January to criticize the U.S. Securities and Exchange Commission (SEC) for a botched Twitter hack on the eve of the regulator’s landmark greenlighting of spot Bitcoin exchange-traded funds (ETFs).
Vance supported the overturning of the SEC’s controversial SAB 121 bill that discourages American banks from cryptocurrency — a move that President Joe Biden came out against.
Meanwhile, Vance's running mate, Trump, has positioned himself as a pro-crypto candidate ahead of the general election in November in a bid to court crypto-inclined voters. Among his crypto promises, Trump has pledged to make the U.S. the crypto capital of the planet and to establish America as the “Bitcoin superpower of the world.” He also vowed to fire Securities and Exchange Commission chair Gary Gensler if reelected.
With Trump touting grand crypto plans on the campaign trail, it remains to be seen how that will affect Vance’s crypto holdings if he manages to return to the Oval Office in 2025.
The above is the detailed content of Crypto-Friendly Senator J.D. Vance, Trump's Running Mate, Has Been a Bitcoiner Since 2021. For more information, please follow other related articles on the PHP Chinese website!