Hunter Biden Calls Bitcoin, Blockchain an 'Inevitable Future' in Pro-Crypto Remarks
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Hunter Biden, son of former U.S. President Joe Biden, has publicly voiced support for Bitcoin and blockchain technology.
AMBcrypto reported on June 6 that Biden expressed support for decentralized blockchains and Bitcoin in a recent reply on X to a question about the fiat-currency-based financial system.
He wrote that decentralized blockchains are "an inevitable future" and that existing banks will resist the shift until the end, but ultimately will not be able to stop it. The remarks suggest traditional financial institutions would strongly oppose the spread of blockchain-based financial infrastructure.
The comments contrast with the Biden administration's hard-line approach to crypto regulation. During Joe Biden's presidency, the U.S. Securities and Exchange Commission pursued broad investigations and enforcement actions against major crypto companies and projects including Binance, Coinbase, Uniswap, MetaMask, Ripple and Aave.
U.S. banks also struggled at the time to expand their crypto custody businesses. The crypto industry had criticized the Biden administration for effectively limiting traditional financial institutions' participation in crypto-related businesses. As a result, the industry actively backed President Donald Trump in the 2024 U.S. presidential election, citing his pro-crypto stance.
Still, markets see little chance that Hunter Biden will become the Democratic presidential nominee in 2028. According to prediction market platform Kalshi, his odds of winning the Democratic nomination stand at 1.7%, while California Governor Gavin Newsom leads at 21%.
