
Eric Trump confirmed he and Donald Trump hold significant Bitcoin, calling it โdigital goldโ and backing its long-term potential at TOKEN2049.
Trumpโs pro-crypto policies, SEC shake-up, and creation of a U.S. crypto reserve have sparked controversy and ethics investigations.
According to Bloomberg Reports, Speaking at the TOKEN2049 event in Dubai, Eric Trump revealed that both he and President Donald Trump hold โa lot of Bitcoin.โ Calling BTC โdigital gold,โ Eric predicted itโs going much higher and emphasized their bullish stance on its long-term potential. While he didnโt provide exact figures, he confirmed itโs a major personal investment.
Ericโs remarks echo Donald Trumpโs growing support for crypto. The president has stated multiple times that he wants crypto to succeed, especially as a competitive edge against China. He even praised Bitcoinโs resilience during Aprilโs financial market dip, saying it held up better than traditional markets.
Trumpโs administration has already made moves to back crypto beyond just words. In March, Trump signed executive orders to consolidate seized Bitcoin into a U.S. crypto reserve, halting government selloffs. He also ordered the creation of a broader crypto stockpile, which includes altcoins, from forfeited assets. The aim is to maximize value without draining taxpayer funds.
U.S. Crypto Reserve in the Making
To further support the crypto sector, Trump appointed Paul Atkins as the new SEC Chair. Atkins is tasked with delivering clear, crypto-friendly regulations, a sharp contrast to the previous administrationโs more skeptical approach.
Even before his presidency resumed, Trump made headlines with NFT launches and the meme coin TRUMP. Though the coinโs value soared briefly to a $75 billion market cap, it later crashed over 90%. Trump, however, denied any financial involvement, insisting he wasnโt profiting from the hype. Whether through executive orders, regulatory changes, or direct ownership, the Trumps are going all-in on Bitcoin, betting big on a crypto-powered future.
Trump Family Under Fire
Since returning to the office, President Trumpโs conflicts of interest have reportedly escalated, with a spotlight on his ties to the crypto firm World Liberty Financial. According to New York Times journalist Eric Lipton, Trump has aggressively blurred the line between personal profit and public policy.ย
After pushing for the GENIUS Act, which favors stablecoin businesses, Trumpโs family crypto company quickly launched its stablecoin, becoming a top global issuer. This prompted Senate Democrats to launch an inquiry into what they call โTrump crypto corruption,โ and to propose the End Crypto Corruption Act, aiming to block top officials and their families from profiting off crypto endorsements or issuances.
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FAQs
Itโs a government-held crypto stockpile formed from seized assets to maximize value without taxpayer burden.
The GENIUS Act supports stablecoin issuers and allegedly benefited Trump-linked crypto firms, sparking ethics concerns.