Van Jones: People Are Buying Bitcoin as a 'Prayer' Amid Economic Uncertainty

California Democrat and political commentator Van Jones characterized the act of some people buying Bitcoin (BTC) as a form of “prayer,” reflecting a hope for a

California Democrat and political commentator Van Jones likened the act of some people buying Bitcoin (BTC) to a form of “prayer,” reflecting a hope for a better financial outcome amid worsening economic conditions and increasing frustration with governmental financial policies.

“A lot of people are buying crypto as a prayer, as a prayer for a better tomorrow, as a hope that somehow something will go good for them,” he said on Sunday during an appearance on the "Uncommon Ground" show.

Jones went on to argue that the regulatory approach by the Biden administration has served to inadvertently stifle innovation in the crypto space.

Specifically, he criticized the government's crackdown on more useful cryptocurrencies, saying, “the more useful the coin is, the more they got attacked. The more useless the coin is, the less they got attacked.”

This, according to Jones, has led to the current market being dominated by meme coins, due to the lack of development and innovation stifled by regulation.

He noted that instead of protecting individuals, this overregulation has led to a negative market dynamic.

Adding to the commentary, Ashley Etienne, former Communications Director for former Vice President Kamala Harris, weighed in, labeling President Donald Trump a “grifter.”

She referenced reports alleging Trump's family made millions from foreign governments during his presidency, and warned against Trump's potential to profit from the crypto industry and how that's an "issue of conflicts."

Etienne went on to say that, “there was a reason why he was called the grifter in chief in his first term. Everyone knew that Donald Trump could be bought. You could buy his influence simply by dangling some money over his head.”