At the Bitcoin 2025 conference in Las Vegas, Vice President JD Vance and two sons of former President Donald Trump discussed the potential of cryptocurrencies to uplift ordinary Americans. Vance emphasized that this represents a “once in a generation opportunity” for innovation aimed at improving citizens’ lives. However, current statistics indicate that cryptocurrency has yet to gain widespread acceptance, with only 17% of U.S. adults having ever engaged with it, and just 8% having used it in the previous year. Usage tends to be highest among men aged 18 to 29 and lowest among women aged 50 and older. A recent U.S. Federal Reserve survey revealed that the percentage of adults using crypto in the last year had dropped to 7% in 2024 from 12% in 2021.
Contrasting this, an industry survey noted that 14% of U.S. adults own Bitcoin, equating to approximately 36 million individuals. In comparison, 26% of households own stocks or mutual funds, while 60% have retirement accounts. The Trump administration has been actively engaging the crypto community, exemplified by a recent dinner hosted by Trump for buyers of his meme coin, and the Labor Department’s decision to remove guidance that previously advised caution regarding cryptocurrency investments in employee 401(k) plans.
Emphasizing the importance of cryptocurrencies, Vance asserted that they are ingrained in the mainstream economy and will continue to play a significant role. He pointed out Bitcoin’s potential to provide financial access to unbanked Americans, noting that approximately 4.2% of U.S. households lack traditional banking services, thus positioning cryptocurrencies as a transformative tool in modern transactions.
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