After the former United States President and current Republican candidate for the repeat presidential position, Donald Trump, presented Ohio Senator JD Vance as his running mate, the cryptocurrency community rejoiced, and now Vance has further increased his Bitcoin (BTC) stake.
Indeed, Vance is a former venture capitalist with a personal interest in making crypto assets more accepted and now has up to $350,000 in Bitcoin, up from the last reported $250,000, according to the data shared by Quiver Quantitative, a platform tracking politicians’ trades, on August 27.
As the platform’s researchers explained, the estimate is that JD Vance currently has a net worth of $8.7 million, which includes up to $350,000 in Bitcoin, as of August 2024, and which represents an increase of $172,200 from last month, when his top-performing stock holding was SPDR Gold Trust (GLD).
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For reference, Finbold has earlier reported that JD Vance had a significant stake in the flagship decentralized finance (DeFi) asset, with the value at the time amounting to $250,000, as per the US Senate Financial Disclosures for Calendar 2022.
As a reminder, the author of ‘Hillbilly Elegy’ has also written draft legislation that envisions a change to how the US regulates the crypto industry, including the practices of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Furthermore, the Senator introduced a bill last year that aims to shield banking institutions from regulatory pressures to deny providing services to crypto firms, putting them under “apolitical oversight,” with support from a couple of other US senators.
US presidential crypto stage
Meanwhile, the crypto sector remains one of the main points of contention in the polarized political arena in the US, which awaits a major presidential battle this November between the incumbent Democrat US Vice President Kamala Harris and former US President Trump.
But unlike the current US President Joe Biden, who had vetoed a repeal of rules to make offering crypto custody easier and allegedly hasn’t been very open to hearing out Bitcoin miners’ concerns, Harris’s views toward crypto remain a mystery, although some crypto executives say her campaign has shown a willingness to listen to the industry’s issues.
Elsewhere, the price of Bitcoin at press time stood at $58,970, down 5.99% in the last 24 hours, losing 0.63% across the previous seven days, and accumulating a decline of 15.53% on its monthly chart, according to the most recent data on August 28.
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