Big names in cryptocurrency and some familiar faces from the White House are gathering in Las Vegas for a three-day Bitcoin conference, where Vice President JD Vance will deliver the keynote address. CBS News correspondent Carter Evans has the details.

Las Vegas

A major Bitcoin conference in Las Vegas is drawing significant attention, with over 400 speakers including Vice President JD Vance and members of the Trump family. The event reflects a shift in political attitudes toward cryptocurrency, as the current administration adopts a more favorable stance on digital assets.

Recent developments discussed at the conference include Trump Media and Technology Group's announcement of a $2.5 billion investment in Bitcoin and the launch of the Trump coin, which has generated substantial transaction fees and raised ethical questions. The conference also highlights the increasing acceptance of Bitcoin as a payment method by major retailers, alongside its continued popularity as an investment asset.

Vance to deliver keynote address at Las Vegas Bitcoin conference

All right, I'm going to take you to Vegas now, where big names in crypto and some familiar faces from the White House are gathering this week for a massive Bitcoin event. 400 speakers are expected to attend this thing, including Vice President J.D. Vance and President Donald Trump's sons. So let's bring in CBS News correspondent Carter Evans, who's joining us live from Los Angeles. So Carter, why is this conference such a big deal this year? Well, think about this. Just a few years ago, President Trump used to call Bitcoin a scam, but he's since done a full 180. And now that the administration has a favorable stance on cryptocurrency, Bitcoin and other digital assets could become more mainstream. So today, Donald Trump Jr. is going to be speaking at the conference. Tomorrow, Vice President Vance will give a keynote address. Now, this all signals a growing political interest in the currency and maybe eventually a shift in U.S. financial policy. Now, Trump Media and Technology Group recently announced plans to invest two and a half billion dollars. That's billion with a B in Bitcoin, and that could give it a boost. This follows the launch of the Trump coin, of course, just before the president took office in January. And there are estimates that insiders have already collected more than 300 million dollars just in transaction fees alone on that coin. And it's raising some ethical concerns, especially since the president's family recently offered an intimate private dinner with the president for those who own the most Trump coin. Yeah, that was very interesting, Carter. And I'm curious, are we seeing more and more companies actually accept Bitcoin as a legitimate form of payment? So the short answer is yes. It is also primarily an investment these days. A lot of people think about Bitcoin like digital gold. It's a finite resource that's decentralized. Basically, the value is not set by any government or central bank. It's purely based on what people are willing to pay for it. That said, you can spend it. Big name retailers like Whole Foods, AMC Theatres, Starbucks, AT&T and Amazon already accept crypto payments. Bet you didn't know that. And companies like Square, now called Block, they're enabling more merchants to accept Bitcoin, including at this conference this week. But here is the catch. If you bought Bitcoin because you believe it's going to keep rising in value, like many people do, why would you spend it on a latte? Liz? Yeah, I think I want to put it someplace secure given these times. All right, Carter Evans, thanks so much.

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