Organizing | MetaEra
This article is a recent speech by US Vice President Vance at the Bitcoin 2025 Conference. The original link is as follows:
https://www.youtube.com/watch?v=hMK2ULrVq6A
The full text of the speech is as follows
You know, I've been to a lot of Bitcoin conferences, but this was definitely the biggest crowd I've ever seen. Oh my goodness.
Here’s what’s really cool about this conference: it’s about making history.
We are making history — because this is the largest Bitcoin conference ever.
35,000 people are expected to attend today.
We’re also making history — as this was the conference held when the price of Bitcoin first broke $100,000.
You know, we also made history last year in Nashville when candidate Donald J. Trump spoke to us here. He made some promises to us:
He promised to end the war on cryptocurrencies.
He promised to release Ross Ulbricht.
He promised never to sell our Bitcoins.
He promised to build a strategic Bitcoin reserve and make the United States a global Bitcoin superpower within 100 days.
Promises made, promises fulfilled.
And this morning, we are also making a little bit of history: this is the first time in U.S. history that a sitting Vice President will address the global Bitcoin community.
Are you ready? Well, please welcome the Vice President of the United States, JD Vance.
Thank you, thank you everyone. First of all, I want to say - please take a seat, please take a seat, thank you. Please take a seat.
The Secret Service was a little nervous because I told them, "These Bitcoin people really like guns," but they also really like the President and the Vice President. So, I felt like we were pretty safe.
I want to start by thanking David Bailey. Thank you for everything you’ve done for the Bitcoin community, and especially for me and the President, helping us get from the candidacy stage all the way to the White House. We’ve accomplished a lot in the last 120 days, and we couldn’t have done it without your support.
I also want to thank the Winklevoss brothers, Tyler and Cameron. I have to say that they really played a role in breaking the dam in Silicon Valley. Remember last June and July, when many people in Silicon Valley privately said that they would support Trump, saying that the Democratic Party had gone too crazy and that Gary Gensler had to be driven out of office?
But at that time they were not willing to express their views publicly. Tyler and Cameron were the first Silicon Valley celebrities to stand up and publicly support Trump.
And then a whole bunch of people followed them and came out. So Cameron and Tyler, thank you.
Of course, I also want to thank the Coinbase team and all the organizers for making this amazing conference a reality.
I checked the price of Bitcoin this morning and it was $108,000.
It is truly an honor to stand here as Vice President of the United States.
You know, I get to meet a lot of interesting people in my job, but I haven't been to a conference with such high energy in a long time.
I want to say, wow, you guys played in Las Vegas all night and were still there at 9 o'clock the next morning, that's just amazing.
I promise, I’m not saying this to drum up popularity for my own meme coin.
But really, it would be wrong to call this conference a "conference."
This is not just a conference, but a movement.
I am proud to stand here today and stand with you.
I believe that this conference and this movement are key nodes in determining who will decide the future of cryptocurrency in the United States.
Let's make one thing clear:
The future will be decided by you, not by unelected bureaucrats.
You're meeting many of your colleagues in the Trump administration today. David, Bo, Hester -- are you all here? It's great to be with so many friends and allies.
I will only talk about three things today:
First, I want to talk about what the Trump administration has done in terms of encryption policy;
Second, I want to talk about the guiding principles behind our policy;
Third, I want to talk about why I believe in cryptocurrency and what it means for the American people.
Many people ask me why I am so optimistic about the future of innovation in the United States?
I’ve been in Silicon Valley long enough to know what “good technology” is — technology that increases productivity, improves lives, is rooted in reality, and enhances everyday experiences.
This is "good technology".
Of course, there is also "bad technology".
When it comes to cryptocurrency, the past few years have clearly demonstrated that this is real innovation coming from the grassroots.
It is already improving the lives of tens of millions of Americans.
As far as I know, there are about 50 million Americans who own Bitcoin right now.
I believe this number will soon reach 100 million.
But this isn’t just about the price of Bitcoin, or the wealth that’s been created through it.
Decentralized finance has revolutionized the way Americans transact.
It expands the boundaries of financial services, allowing people who previously did not have access to bank accounts to gain financial access.
And almost every day I can see new applications of blockchain in different fields:
Whether it is supply chain management, hospital systems, or even the way patients’ private health data are recorded.
But in addition to these future-oriented applications, I also see a very conservative but precious side of Bitcoin technology:
It is a hedging tool.
It serves as a hedge against bad policy coming from Washington — no matter which party is in power;
It can hedge against losses from inflation — which has nearly wiped out Americans’ real savings rate over the past four years;
It can also serve as a hedge against private businesses that start depriving you of banking services because of your beliefs or political affiliations.
Including those who have been "debanked" because you defend the Second Amendment (gun rights) or were involved in the Trump administration.
Do you all remember that the Canadian government ended the truck drivers' protest in 2022 by freezing their accounts?
Within a week, the protest was over.
But perhaps more importantly: I see Bitcoin as a shield against the most dangerous trends of the digital age.
In both the public and private sectors, there is an elite group that, rather than innovating, seizes and controls cutting-edge technology to manipulate others.
But we all know: this is not the nature of Bitcoin, and it never will be.
And you, will ensure that it never is.
But you know, things are different now, there's a new sheriff here.
After four years of systematic suppression and hostility from Democratic regulators, lawmakers now face a choice:
We want to lead the country towards financial sovereignty, innovation and prosperity.
Or let unelected bureaucrats and foreign competitors write the rules for our future?
I am here today to say it loud and clear, along with President Trump:
Cryptocurrency finally has a true advocate and ally in the White House.
In the eyes of our government, the potential of the digital asset industry is more than just investment or cool technology.
It is a symbol and driving force for the personal freedom of American citizens.
Each of you here is a pioneer in the digitalization of the American economy.
So we are doing something unusual in Washington:
We are listening carefully to your voice.
You are solving problems, pushing boundaries, and driving innovation.
You are bringing unprecedented transparency to the business world.
So you should also get:
Transparent and clear rules, and respect and support from the government,
Rather than interference and suppression from bureaucracy.
Having said that, we must take several substantive actions.
The primary task is also the simplest and clearest:
Cleaning up the mess left by the previous administration.
This is what we have been doing since day one.
Our government’s priorities are: removing red tape, restrictive regulations, and the “legal battle” against the crypto industry.
We ended the weaponization of regulation of the crypto industry.
In a word, Operation Chokepoint 2.0 is dead.
And it will never be resurrected under the Trump administration.
By the way, it’s incredible that this matter could have caused controversy.
Think about it, using the government's regulatory power to destroy an industry just because you don't agree with their views - how can that be justified?
So let my words today serve as Chokepoint 2.0’s obituary.
This is my promise to everyone in this room:
This government will never crack down on your communities or deny the contribution you make to our economy.
We reject the Biden administration’s approach of using law enforcement by a thousand cuts to torture this industry.
We reject the games of so-called regulators.
Perhaps the most important thing we do for this community is:
We fired Gary Gensler, and we're going to fire everyone like him.
We know that people like Gensler, under the banner of "protecting consumers",
But it is destroying all efforts to democratize finance.
But all this is over now.
I am an American who was born into a working-class family.
I have always believed that the United States is a country where you have the opportunity to get rich no matter where you come from or whether you have a diploma or not.
And over the past few years, I can’t think of any area that has embodied this spirit better than the digital asset industry.
Next is our second substantive task:
We are working to establish a clear, supportive legal framework for stablecoins.
I know we have strong allies in Congress, like Cynthia Lummis.
Is she here today or has she gone home early?
I was supposed to have dinner with Cynthia last night, we had an event, and I was looking for her everywhere, asking, "Where is she?"
Someone told me, "She has a dinner party."
I said, "I'm the Vice President! Unless she's having dinner with the President, there's no reason for Cynthia not to be there."
(Laughs) But we all love Cynthia, and she's really one of the strongest supporters of the crypto industry in Congress.
I know that Congress, led by Cynthia and other great lawmakers, is working hard to pass an important bill:
The Genius Act — Get it to the President’s desk ASAP.
This is a very important step.
Why?
Because in the past few years, the uncertainty of US regulation has forced too many stablecoin businesses to move overseas.
Someone said to me yesterday:
“Bitcoin has been able to survive despite facing so many headwinds in the past few years.
Wouldn’t it be better if the government could provide some tailwind from behind?”
This is exactly what our government is aiming for.
Once the Genius Act is passed, it will greatly promote the widespread use of stablecoins as a digital payment system in the United States, serving millions of Americans.
It will also protect coin holders and bring more transparency to the market.
I want to emphasize one point in particular:
In our administration’s view, stablecoins do not threaten the integrity of the dollar.
Quite the opposite:
We believe stablecoins are a power multiplier for the U.S. economy.
Dollar-pegged stablecoins — especially after the passage of the Genius Act — will only strengthen the U.S. economy and the international role of the dollar.
So we are confident that the Senate will quickly pass a clear version of the Genius Act.
We hope the House will follow suit.
Once the bill reaches the president's desk,
President Trump will sign it into law as soon as possible.
With this completed, the Government will move fully forward with our third priority:
Develop a transparent, tailored, and innovation-supportive regulatory framework for digital assets,
Let cryptocurrency truly integrate into the mainstream economic system.
I've been talking to a lot of you these days.
While everyone is excited about the progress made in the past few months, they also expressed a persistent concern:
That is — cryptocurrencies are still not fully accepted in the mainstream economy.
In this regard, I solemnly promise you:
We are working hard to push for policy reform to change all this.
We want all Americans to know:
Cryptocurrencies, digital assets, and especially Bitcoin, are already part of the mainstream economy and are here to stay. [Applause]
We believe that from a legislative perspective, the most effective approach is to:
Introducing a market structure bill,
It is not intended to limit the value of Bitcoin and digital assets.
Rather, they are used to support the extraordinary potential they represent.
Now, with this Congress and this Administration,
We are facing a once-in-a-lifetime opportunity.
Innovation can improve the lives of thousands of Americans.
But if we don't set clear regulatory direction now,
We could be sending this $3 trillion industry out of the country to countries that are more crypto-friendly.
President Trump will do everything in his power to prevent this from happening.
Think about this:
If we lock in a smart set of pro-innovation policy rules today,
We can also prevent any future party from waging war against the crypto community again.
I knew I was overdue, but before I went back to Washington,
Please allow me to give you three more suggestions or directions for thinking and share my observations on this industry.
This is just a politician's opinion.
Whether it is worth one Bitcoin, you can judge for yourself.
First point:
I remember when I first ran for Senate in 2022,
I was one of the very few candidates who actually held Bitcoin at the time. I still hold quite a bit of Bitcoin today.
If you think about it, that's 2021 and 2022.
Although it feels like a lifetime ago, it was actually only four years ago.
At that time, like many Bitcoin supporters,
We’ve all seen the regulatory disasters of the Biden administration and Gary Gensler.
But I am very frustrated:
At that time, the entire crypto industry had almost no organization at the political level to resist them.
What I want to say is:
The reason why I can stand here today,
Bernie Moreno could defeat Sherrod Brown in the Senate race.
It's because you stood up and started to participate in American politics.
I thank you for your participation.
But please learn one lesson from this experience:
If you don't participate in politics,
Politics will ignore you or even hurt you.
You took an important step in 2024.
But I want to remind you that every victory is only a temporary victory.
A good friend of mine in Silicon Valley once said to me:
“The Bitcoin community believes in ‘exiting the system’, while the AI community believes in ‘changing the system’.”
What I saw was that in 2024, many friends in the crypto community chose to "change the system."
You chose to speak out and to participate in politics.
I believe that you have changed the trajectory of the country as a result.
But you must continue to choose to speak up.
Bitcoin is called "digital gold".
But Bitcoin is digital, and you are not.
What happens in politics and bureaucracy,
Even the most valuable and disruptive technologies,
If we make the wrong decisions today, we will not be immune to the consequences.
So my first suggestion to you is:
Take your motivation to participate in politics in 2024,
All the way to 2026 and even beyond.
Don't ignore politics.
Because I promise you:
Politics will never ignore you as a community.
Second suggestion:
We must think strategically about the future role of Bitcoin.
About 50 million Americans now hold Bitcoin.
Many people have become rich and created their own wealth because of this, which is a good thing.
But I think the next stage of Bitcoin is:
Become a national strategic asset for the United States in the next decade.
That's why -- with President Trump's push,
and our amazing AI consultant David Sacks,
We established the National Bitcoin Reserve.
We want to push this forward and make Bitcoin a strategic tool for the U.S. government.
Whether Bitcoin can truly be integrated into the national strategy must be a two-way dialogue.
This is why I keep emphasizing: you must participate in politics.
You must continue to give us feedback on how Bitcoin can contribute to the long-term strategic development of the United States.
I know the Bitcoin Policy Institute is working on this.
But every one of you should be part of this conversation.
Because none of us wants to wake up in 10 years to find that our country is poorer and less free because of the bad decisions we made today.
We will make the right decision.
But the prerequisite is that you must participate in this decision-making.
So, the third suggestion:
You may have heard the saying:
“Cryptocurrency is an inherently conservative or right-wing technology, and artificial intelligence is an inherently left-wing or authoritarian technology.”
I admit that this statement is a bit of a generalization, but it does make some sense.
I haven't been involved in the day-to-day operations of the tech industry for four years, since I entered politics.
But I noticed this phenomenon:
Many smart right-wing technical talents are attracted to Bitcoin.
Many smart left-wing technical talents are devoted to AI.
This is of course a rough classification, but it reveals a cultural tendency.
I would like to remind you that:
The development results of AI will inevitably affect Bitcoin;
The fate of Bitcoin will in turn affect AI.
So, although this is a Bitcoin conference,
We are all proud of what the Bitcoin community has achieved over the past 10 years.
But my final suggestion is:
You must pay attention to the progress in the field of artificial intelligence and actively participate in it.
I don't want the development of AI to have a negative impact on Bitcoin.
What's more important:
I don't want the development of AI to have a negative impact on U.S. national interests.
The best way to ensure that smart, forward-thinking people are involved in the AI conversation is to:
Let the Bitcoin community be part of the AI conversation.
Our government has committed to doing just that.
I hope you'll join us in this as well.
Finally, I would like to say:
We have already done a lot for the industry in the coming years, but we have even bigger plans.
For the sake of this industry, and the Americans who depend on it, we need you to:
Give help, provide advice, keep an eye on,
Apply political pressure when necessary.
So enjoy the convention this week.
But please keep speaking up, keep pressing, and together we will accomplish great things:
Not just for this industry,
It is also for personal freedom and the future of the United States of America.
May God bless you,
Thank you for having me here.
