Bitcoin (BTC) and other cryptocurrencies are poised to play a transformative role in the future of money and investment, according to Eric Trump, who described digital assets as “the greatest hedge against inflation … against corruption … against poorly managed monetary systems around the world.” Speaking at Yahoo Finance’s Invest event, Eric Trump, the executive vice president of the Trump Organization, expressed his belief that the increasing global interest in bitcoin positions it as potentially “the greatest asset of our time.”
Eric Trump has publicly invested in cryptocurrency, co-founding American Bitcoin (ABTC) with his brother Donald Jr. The crypto mining firm went public in September and has quickly achieved a market valuation of approximately $4 billion. Trump highlighted the company’s recent merger with Gryphon Digital Mining, which aims to expand operations despite concerns from critics about the volatility associated with cryptocurrencies.
Notably, ABTC is already ranked as the 25th-largest bitcoin accumulator among public companies in the U.S., achieving this milestone in just eight months. Eric Trump attributed the firm’s success to its low energy costs, stating that they are mining bitcoin in West Texas “for roughly 50 cents on the dollar to the spot price every single day.”
Trump’s interest in cryptocurrency appears to be driven by both personal experiences and broader economic beliefs. He noted that his growing acceptance of bitcoin was influenced by his experiences with banking institutions and what he described as “getting canceled by banks over and over for doing absolutely nothing wrong.” He views blockchain technology as a solution to issues related to the banking industry’s control, stating, “Blockchain solves a lot of the weaponization of the banking industry.”
On a macroeconomic level, Trump believes that digital assets will infuse “trillions of dollars into the US” and could “literally change every aspect of our financial system,” addressing long-standing issues related to transferability and transaction speeds that gold and traditional assets often encounter.
The Trump family’s involvement in the crypto space is extensive. Through World Liberty Financial, they hold control over a decentralized finance (DeFi) platform, issue the $WLFI governance token, and support the $USD1 stablecoin, which is pegged to the U.S. dollar. However, this blend of political ambition and profit-making has sparked concerns over transparency, oversight, and the concentration of financial power within one family.
Eric confirmed that the Trump Organization holds various digital assets, saying, “Yeah, we have a ton of it on the balance sheet,” and he personally has made significant investments in bitcoin. The shift in former President Donald Trump’s stance on cryptocurrencies is noteworthy; what was once dismissed as a “scam” has become a central element of his economic vision. His campaign for the 2024 presidential election now accepts crypto donations, and he has initiated crypto payments on Truth Social. Furthermore, he has even launched meme coins linked to his and Melania Trump’s likeness.
During his presidency, Trump advocated for a relaxed regulatory environment for cryptocurrencies. He disbanded the Justice Department’s national cryptocurrency enforcement team, appointed a “crypto czar,” and convened a White House summit with industry leaders to discuss the future of digital assets. He also proposed establishing a national crypto reserve to integrate digital currencies into the U.S. financial system formally.
Despite these efforts, regulatory challenges remain. Of the three cryptocurrency bills backed by Trump, only one—the GENIUS Act, which focuses on stablecoin regulations—has successfully passed through Congress. The larger CLARITY Act, aimed at providing a comprehensive framework for all digital assets, is still pending Senate approval. The sector faces additional challenges due to its reliance on Chinese hardware and energy sources, making it susceptible to tariffs and supply chain issues—a predicament expected to worsen amid growing trade tensions.
