In a recent appearance on CNBC, Eric Trump, co-founder and chief strategy officer at American Bitcoin Corp. (NASDAQ: ABTC), expressed strong support for the adoption of blockchain technology, emphasizing its potential to reshape traditional finance. Trump characterized Bitcoin as the “modern-day gold,” praising it for its security, liquidity, and status as a global hedge against economic uncertainty. He highlighted Bitcoin’s track record of delivering robust long-term returns, pointing to an increasing trend of institutional adoption among Fortune 500 companies and sovereign wealth funds.
The establishment of American Bitcoin, a hybrid mining and treasury firm that emerged following Hut Eight’s restructuring, was influenced by the Trump family’s encounters with debanking issues from major U.S. banks. Eric Trump noted that these challenges exposed vulnerabilities within traditional financial systems, prompting their pivot toward cryptocurrency.
Addressing concerns regarding potential conflicts of interest during his father’s presidency, Trump maintained that their business pursuits in the crypto space are driven by necessity rather than political motivations. He claimed that the Trump Organization has incurred losses rather than profits due to political factors.
Looking to the future, Eric Trump foresees a significant transformation in financial markets, where blockchain technology will streamline operations, making them faster, cheaper, and more efficient. He cautioned that traditional financial institutions that fail to keep pace with these developments risk facing a “slow and painful death.”
Eric Trump and his brother, Donald Trump Jr., together hold nearly 20% of ABTC shares. Recently, Eric has referred to cryptocurrency as the greatest hedge against real estate, highlighting its potential as one of the best assets of the current era.
