Eric Trump mentioned his father, US President Donald Trump, owns a big quantity of Bitcoin and really a lot believes in its future.
He made this assertion whereas talking in an interview with Bloomberg through the TOKEN2049 crypto convention in Dubai.
Eric referred to as Bitcoin “digital gold” and advised exponential future progress for the cryptocurrency.
He didn’t supply actual figures however indicated that he and his father each have what he termed a “substantial” stake in Bitcoin. He additionally termed the funding a large private wager.
Eric Trump. Picture: Brendan Smialowski/AFP through 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 “highly regarded” and “extraordinarily sizzling proper now.
On the TOKEN2049 convention in Dubai, Eric Trump expressed robust assist for Bitcoin, describing it as “digital gold” and revealing that each he and his father, President Donald Trump, maintain important quantities of the cryptocurrency. He predicted that Bitcoin would expertise…
— Wu Blockchain (@WuBlockchain) Could 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 approach of coping with government-seized Bitcoin. In March, he reportedly signed govt orders to halt the sale of confiscated Bitcoin. As an alternative, the property will probably 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 presumably improve the worth of these property, not money out instantly. The plan additionally entails the acquisition of extra Bitcoin and different cryptocurrencies via 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 brought on a big 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 job is to deliver distinct guidelines for the crypto area and help in bringing a steady panorama for improvement.
That is half of a bigger transfer to interrupt away from the obscure and typically complicated form 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 mentioned to have launched a meme coin referred to as TRUMP, which inside 48 hours hit a $75 billion valuation. However it was short-lived. The value of the coin has unexpectedly fallen by over 90%, prompting issues 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 earning money 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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