Andrew Grant
Key Takeaways
- Eric Trump embraces Bitcoin as “immediately liquid” and one of the best stores of value.
- Trump supports clearer crypto regulations and believes US stablecoins can save the dollar.
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US President Donald Trump’s son, Eric Trump, has reiterated his embrace of Bitcoin, calling it an excellent store of value and a strong hedge against real estate, an asset class he is deeply familiar with due to his background in construction and property development.
“I truly believe that Bitcoin is one of the greatest stores of value, immediately liquid, an unbelievable hedge against real estate,” Trump said in an interview with FOX Business Network (FBN) on Tuesday.
Trump also explained that he became interested in crypto after widespread banking cancellations targeting Trump’s family accounts without justifiable reasons.
According to him, these actions were politically motivated and part of a larger movement to target conservatives.
“I never thought I’d fall into the world of crypto until every bank started cancelling us for absolutely no reason whatsoever other than the fact that my father was in politics,” Trump said.
The experience led him to appreciate Bitcoin’s decentralized nature, which makes it resistant to censorship.
The Trump Organization executive is now involved in crypto ventures, including World Liberty Financial (WLFI) and American Bitcoin. American Bitcoin, the Bitcoin mining venture backed by Trump’s sons and Hut 8, just launched yesterday.
“American Bitcoin. I think it’s going to be one of the great companies out there. So I truly believe in it,” he said.
Discussing the DeFi venture, Trump expressed confidence in its future success, stating, “It’s doing phenomenally well.” Last week, WLFI announced the launch of its stablecoin, USD1. The announcement came after the team successfully raised over $550 million through token sales.
Regarding crypto regulations, Trump stressed the need for clearer guidelines in the industry, noting that “everybody wants guidelines” and that the US needs to maintain leadership in the space.
“When we look out 10 years in this country, the nature of finance, the nature of banking is going to be very, very different than it is today,” Trump said, adding that blockchain technology can execute banking functions “better, cheaper, more efficiently, faster” than traditional institutions.
Trump also expressed support for US stablecoins, citing a study showing low European interest in euro-based stablecoins. “I really actually think that US stablecoin saves the dollar in a very big way,” he said.
Trump recently joined Metaplanet’s Strategic Board of Advisors. The appointment was seen as part of the company’s ongoing efforts to become a leading entity in the Bitcoin economy.
Not just Bitcoin, Trump’s son is also bullish on Ethereum. In an X post in February, he encouraged investors to accumulate more Ether.
The token is currently trading at around $1,900, down nearly 30% since his post.
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