Eric Trump stated his father, US President Donald Trump, owns a major quantity of Bitcoin and really a lot believes in its future.
He made this assertion whereas talking in an interview with Bloomberg in the course of the TOKEN2049 crypto convention in Dubai.
Eric known as Bitcoin “digital gold” and advised exponential future development for the cryptocurrency.
He didn’t provide precise figures however indicated that he and his father each have what he termed a “substantial” stake in Bitcoin. He additionally termed the funding an enormous private wager.
Eric Trump. Picture: Brendan Smialowski/AFP by way of Getty Pictures
Trump Household Doubles Down On Crypto
Eric Trump’s phrases come whereas his father has maintained rising curiosity in cryptocurrencies. For him, his father is assured that crypto issues to America as a result of if the USA fails to undertake it, China will. He categorised crypto as “very fashionable” and “extraordinarily scorching proper now.
On the TOKEN2049 convention in Dubai, Eric Trump expressed sturdy help for Bitcoin, describing it as “digital gold” and revealing that each he and his father, President Donald Trump, maintain vital quantities of the cryptocurrency. He predicted that Bitcoin would expertise…
— Wu Blockchain (@WuBlockchain) Might 7, 2025
His father additionally famous that when there was turbulence within the markets in April, and regular markets have been down, crypto remained steadier in comparison with them. He said tens of millions of people are already invested within the area, and that in itself is sufficient to concentrate to.
Authorities Crypto Reserve Strikes Forward
In accordance with Eric, Donald Trump has adopted a brand new means of coping with government-seized Bitcoin. In March, he reportedly signed govt orders to halt the sale of confiscated Bitcoin. As an alternative, the belongings shall be transferred into what’s being termed a nationwide crypto reserve.
BTCUSD nearing the $100k mark on the 24-hour chart: TradingView.com
This motion is designed to safeguard and probably improve the worth of these belongings, not money out instantly. The plan additionally entails the acquisition of extra Bitcoin and different cryptocurrencies by means of forfeiture, with out requesting taxpayers to fund it. There’s additionally point out of accumulating a stash of altcoins utilizing the identical course of.
Paul Atkins Tasked To Oversee Crypto
The Trump administration, as defined in Eric’s interview, has precipitated a major change on the Securities and Alternate Fee. Paul Atkins, who has served as a former SEC commissioner, has been chosen to direct the company. His activity is to deliver distinct guidelines for the crypto area and help in bringing a secure panorama for improvement.
That is half of a bigger transfer to interrupt away from the obscure and typically complicated sort of regulation that has plagued crypto buyers over the previous few years.
TRUMP Meme Coin Sparks Backlash
On his inauguration day, the US President was stated to have launched a meme coin known as TRUMP, which inside 48 hours hit a $75 billion valuation. However it was short-lived. The worth of the coin has unexpectedly fallen by over 90%, prompting considerations that Trump might be leveraging his public persona to revenue from crypto.
Trump, although, has denied any hand within the coin’s efficiency. He said that he doesn’t even know the statistics behind it and dismissed the notion that he’s getting cash off its launch.
As crypto continues to obtain mainstream consideration, each Trumps are betting massive on its future. Whether or not these bets will repay is to be seen.
Featured picture from Gemini Imagen, chart from TradingView
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