JD Vance Backs Crypto as Financial Solution for Working-Class Americans

• JD Vance has pushed Bitcoin as a practical tool to help unbanked and working-class Americans.
• At the Bitcoin 2025 Conference, Vance positioned crypto as key to expanding financial access nationwide.

Cryptocurrency use in the U.S. remains low, but Vice President JD Vance is pushing it as a financial tool for working-class Americans. At the Bitcoin 2025 conference in Las Vegas, he said digital assets like Bitcoin could improve access to financial services and support broader innovation.

JD Vance Says Crypto Can Support Unbanked Americans

In a recent update, we covered that United States Vice President JD Vance will attend the Bitcoin 2025 Conference, where he will discuss Bitcoin’s current effects on America and its role in future innovation.

While speaking at the event, JD Vance was joined by Donald Trump Jr. and Eric Trump. He addressed Bitcoin supporters and presented digital currency as a tool to reach Americans without access to traditional banking.

Data from the FDIC shows that 4.2% of U.S. households were unbanked in 2023. At the event, he emphasized that crypto can make financial tools more accessible and change how Americans interact with money.

Despite the promotion, the actual usage of cryptocurrency across the United States remains low. Pew Research Center data shows that only 17% of U.S. adults have ever invested in or used cryptocurrency, and only 8% have done so in the last year. 

In addition, a separate survey from the Federal Reserve found that in 2024, just 7% of adults had used crypto within the past 12 months, showing a decrease from 12% in 2021.

Crypto usage was also reported to be more common among younger men, especially those aged 18 to 29. Among women aged 18 to 29, usage stands at 17%, while for women 30 to 49 it drops to 15%, and just 5% for women over 50. 

When looking at race and ethnicity, Asian Americans report the highest usage at 28%, followed by Black adults at 23%, and Hispanic adults at 21%. White adults report the lowest usage at 14%.

Income also plays a role. Upper-income adults report 23% usage, middle-income 18%, and lower-income groups 14%. These numbers indicate that while Bitcoin has found a place in specific communities, its reach remains uneven.

Bitcoin Adoption Still Lags Behind Traditional Financial Assets

While JD Vance supports Bitcoin as a tool for broader financial access, ownership remains much lower than traditional investments. A 2024 survey shows that 14% of U.S. adults currently own Bitcoin. In contrast, according to U.S. Census Bureau data, 26% of households own stocks or mutual funds, and 60% have retirement accounts.

President Donald Trump’s administration has taken several steps to attract support from the crypto sector. As highlighted in our previous article, Donald Trump held a private dinner with buyers of his personal meme coin. As noted in our earlier post, in his Consensus 2025 keynote, he said he plans to sign the new cryptocurrency regulation bill before the August recess.

On the same day Vance spoke in Las Vegas, the Department of Labor withdrew earlier guidance that had warned employers about adding crypto options to 401(k) plans.

Support for cryptocurrency like Bitcoin is growing in political spaces. For example, we previously covered that Trump signed an Executive Order to establish a Strategic Bitcoin Reserve. Prominent firms in the US, like Strategy Inc., have been bullish about purchasing cryptocurrency like Bitcoin. However, usage among the general public, especially working-class Americans, is still limited.