2024-8-15 22:00 |
Crypto-friendly senator J.D. Vance, who was chosen by former president Donald Trump last month as his running mate for the 2024 presidential election has been a Bitcoiner since 2021, new federal disclosures reveal.
Vance and Trump, both members of a major U.S. presidential ticket, have publicly embraced the industry — marking a historic first.
Vance Has A Significant Stake In BTCJD Vance holds a substantial amount of Bitcoin.
His 2023 financial disclosure report reveals that Vance holds $250,000 to $500,000 worth of Bitcoin.
Notably, the Ohio Senator’s Bitcoin disclosure is not new. 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 exact amount of Bitcoin Vance holds is unclear as federal laws only require U.S. lawmakers to provide a range for their assets. If the 39-year-old veteran of the Iraq war purchased his Bitcoin hoard back in 2021 when the Bitcoin price was hovering between $30K and $60K, his investment could be standing on massive unrealized profits. While Vance first disclosed owning Bitcoin during his 2021 Senate race, he hasn’t indicated when he first acquired the BTC.
The Bitcoin holdings represent a tiny 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 RecordVance, who was first elected to the Senate in 2022, took the opportunity in January to criticize the U.S. Securities and Exchange Commission (SEC) for a bewildering 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 holding cryptocurrency — an action President Joe Biden opposed.
Vance’s running mate, Trump, meanwhile, has positioned himself as a pro-crypto candidate ahead of the November general election in hopes of luring crypto-inclined voters. Trump has promised to turn the U.S. into the crypto capital of the planet while making America the “Bitcoin superpower of the world.” He also vowed to fire Securities and Exchange Commission chair Gary Gensler if reelected.
With Trump pitching huge crypto plans on the campaign trail, it’s unclear how that will impact Vance’s holdings if he retakes the Oval Office in 2025.
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