Under President Trump’s leadership, cryptocurrency finally has supporters and allies in the White House." U.S. Vice President JD Vance stood on the main stage of the Las Vegas Bitcoin 2025 conference, addressing over fifty thousand attendees present. His speech made history—this is the first time senior officials of the current U.S. government have publicly stated their position at this largest Bitcoin event in the world.
This grand event, held from May 27 to 29, 2025, at the Venetian Hotel, brings together high-level politicians, financial giants, and technological pioneers. There is a consensus in the air: Bitcoin has evolved from a fringe technology to a national strategic asset.
Policy Reversal, the US Embraces Bitcoin
Four years ago, Trump openly stated on Twitter, "I don’t like Bitcoin," emphasizing that "the dollar is the only real currency of the United States." Today, however, his administration has become the strongest promoter of Bitcoin.
On the first day of the conference, Senator Cynthia Lummis announced a significant piece of news: Trump has given strong support to her "Strategic Bitcoin Reserve Act." The core content of this bill has shocked the financial world—authorizing the U.S. government to purchase 1 million Bitcoins over the next five years.
"We have a debt of $37 trillion, and if we buy and hold 1 million Bitcoins for 20 years, we can reduce the debt by half." Loomis explained the value of this strategy on the main stage, "Bitcoin is a global strategic asset, crucial not only in the economic domain but also in the realm of global defense."
The White House has formed a dedicated team, all of whom are experts in the digital asset field. Their tasks cover stablecoin market analysis, research on digital asset market structures, and strategic Bitcoin reserve planning, providing comprehensive oversight of the dynamics of digital asset development.
Political and business elites gather, families and giants speak out
The lineup for the conference is impressive. Vice President Vance delivered a keynote speech titled "Innovation, Financial Sovereignty, and the Future of Bitcoin." He personally holds Bitcoin valued between $100,000 and $250,000, and continues to increase his holdings through the Fidelity Bitcoin ETF, with Bitcoin accounting for about 6% of his investment portfolio.
The Trump family members have become the focus. Donald Trump Jr. admitted that the family’s interest in cryptocurrency stems from a "need": "Once we entered the political arena, we were stripped away by the banking system, stripped away by the insurance system, stripped away by everything. It’s brutal." He and his brother Eric helped their father understand the potential of cryptocurrency, completing the transition from critics to believers.
The views of business leaders are equally noteworthy. Michael Saylor, founder of MicroStrategy, boldly predicts: before 2033 Bitcoin price will break through 1 million dollars. Bitwise CEO Hunter Horsley revealed that 79 listed companies have included Bitcoin in their balance sheets, holding more than 600,000 coins.
Matthew Siegel, the head of digital assets at VanEck, proposed the "most viable path" to establish a permanent U.S. strategic Bitcoin reserve—through targeted congressional budget legislation amendments, including tax credits for miners using methane gas.
New Landscape of Industry: From Speculation to Financial Infrastructure
The Bitcoin industry is undergoing a profound transformation. New York City Mayor Eric Adams announced at the conference that the city plans to launch municipal bonds incorporating Bitcoin (Bit Bonds), which will increase government bond yields while hedging against long-term devaluation risks.
The exhibition area brings together around 300 companies from around the world, showcasing innovations across the entire industry chain from hardware mining machines, cold wallets, and security protocols to Layer 2 solutions. It set a Guinness World Record for the highest number of Bitcoin transactions in a single day, highlighting the potential of Bitcoin in the payment sector.
"Bitcoin has shifted from a speculative market to a technological economy," said a long-term observer. Policy discussions are no longer limited to regulations and have entered the stage of integration with mainstream finance; the technical focus has also expanded from a single value storage to financial applications such as lending and earning interest.
Global competition, Bitcoin reserve competition in 30 states
U.S. states are launching a Bitcoin reserve race. Senator Lummis revealed: "Arizona, Texas, and New Hampshire have all passed strategic Bitcoin reserve bills this year." She further noted that 30 states nationwide are considering establishing their own Bitcoin reserves.
New Hampshire takes the lead by authorizing the allocation of up to 5% of state financial assets to Bitcoin and gold. Texas, on the other hand, passed Senate Bill 21 on May 21, establishing a state-level Bitcoin reserve.
The international action is equally swift. The UAE has passed the exchange-traded funds through the US. Buy Bitcoin Loomis sees the action as a positive signal: "This not only means that the attractiveness of the American Bitcoin market is recognized internationally, but also indicates that there may be more international cooperation and competition in the future."
Senator Marsha Blackburn analyzes from a global strategic perspective: "Many of our allies are paying attention to the dynamics of the United States in the financial sector, and the same goes for Bitcoin. They will closely follow our actions."
Future Outlook
The price of Bitcoin has skyrocketed over 120% since January 2024 when the United States approved the spot ETF, breaking through the $110,000 mark. With New York City planning to launch Bitcoin municipal bonds, Texas establishing state-level Bitcoin reserves, and the UAE making significant purchases of Bitcoin through the US ETF, digital gold is becoming a new category on national balance sheets.
Trump, who once called Bitcoin a "scam," has now authorized the government to incorporate it into its strategic reserves; the early Bitcoin conferences, once gathering geeks, now feature a keynote speech from the Vice President of the United States. From the fringe ideals of cypherpunks to national strategic assets, Bitcoin has traveled an unforeseen path.
The event in Las Vegas, which gathered fifty thousand people, proves that the underlying code of the financial system has been rewritten.
