Last year Donald Trump entered the stage of the Las Vegas Bitcoin Conference Worship on the altar of cryptocurrency. He said he would dismiss Gary Gensler, the former chairman of the Securities and Exchange Commission that led against crypto -fraud for a year. The audience roared. He finished on an exciting note: “We will make America and Bitcoin bigger, better, stronger, richer, freer and larger than ever before.”
Some crypto activists were disturbed. Of course, Trump gathered behind Bitcoin as a source of industrial growth, but why would he not be committed to completely replacing banking with digital currency? Trump did not succeed in commenting on the traditional banks, which, according to crypto proponents, discriminates on their accounts or Fiat -currency, which fully hope some crypto boosters hope.
A year later, President Trump skipped the Bitcoin conference, but he sent his envoys. The crypto message from the administration has become even more confused. While Vice President JD Vance emphasized that Stablecoins regulated by the new Crypto proposal of the administration (the Genius Act) is not “threatening the integrity of the US dollar,” Eric Trump said he would like to see some large banks being “extinctly”. It seems that nobody will decide whether Crypto is a force for – or a replacement for the American financial system.
Mixed signals on the Bitcoin conference of 2025
Vice -President Vance headed the conference, where he set a similar tone as Trump’s speech of 2024. He emphasized that Bitcoin is part of the ‘mainstream economy’, calls it a digital active -but no currency.
VANCE also promoted the Genius Act, which would set rules for currency or raw materials supported stablecoins (crypto-currencies linked to Fiat currency or other reference active) so that they could flow more. The bill has already passed the Senate and is waiting for a house voice. Vance promised that these coins would not threaten the dollar. “Dollar-Pegged Stablecoins, especially once genius, will only help the American economy and [are] Only help the US dollar, “he claimed.
Central to Trump’s crypto strategy was the establishment of a Bitcoin reserve, so that the government could collect cryptocurrency and retain criminal or civil assets -inserting. But whether this stock works next to or in competition with dollar spending remains blurry.
Bo Hines, the executive director of Trump’s Digital Assets Advisory, spoke about Bitcoin as something that the government could grow endlessly. “We want to get as much as we can get possible,” he said at the conference. “We are not going to sell a bitcoin that we have in the US government, period.”
On the other hand, Trump’s Crypto Tsar David Sacks was measured more in his words. He said he “can’t promise anything,” but that he hoped that the government could buy more Bitcoin. “If the Commerce department or the Treasury Department can find out how to finance it without adding to the debt, they can make those programs,” he claimed. “Maybe you will find the money from another program that it doesn’t use.”
While they hit different tones, Vance, Hines and bags all spoke about Bitcoin as an activa class. Whether it could be a new financial system – the currency original mission– Was outside the question. But Eric Trump – although not an administration officer, is certainly influential on the Trump policy – has claimed that crypto banking could completely replace: “It makes everything cheaper, it makes it faster, it makes it safer, it makes it more transparent.” He said he “would like to see that some of the big banks are leaving extinct.”
What does the Trump administration really think about Bitcoin?
Trump has strongly supported the crypto extension, but his reason remains slippery. On the recent Blockworks Digital Asset SummitTrump told the public that they will “unleash an explosion of international growth,” but did not explain how, apart from a brief reference to stablecoins that support the dollar. “It is exciting to see while you invent the future of finance,” Trump said, while you did not dare to explain whether that future included traditional banks.
Why is Trump so in crypto? Much of it is probably for personal gain. Trump has taken millions On his memecoins and NFTs, send cash directly to his wallet. Crypto lawyers also helped Trump to reach the White House in the first place. Their lobby has political weight: according to one New Yorker Report, they refueled the bid of Katie Porter in California, after she had pronounced mere glimmerers of anti-crypto rhetoric.
But there is a political tension that underlies the crypto -push of Trump. If he says that crypto banking – or even Fiat -Valuta – will replace traditional financiers. But if he claims that Bitcoin is only an asset class and not the future of finance, he could get angry the crypto community.
For now, Trump and his administration will try to be on both sides of the fence.
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