TORONTO —Eric Trump, the son of U.S. President Donald Trump, mentioned he believes bitcoin is digital gold and referred to as the biggest digital forex a retailer of worth, throughout a packed panel at Consensus 2025 in Toronto.
“I actually consider in digital gold, which is bitcoin, proper? I consider within the retailer of worth,” Trump mentioned.
Nonetheless, Eric Trump — who has a background in actual property — advised the group at CoinDesk’s Consensus 2025 convention in Toronto that he did not get into bitcoin or crypto till politics intertwined the Trump household and the crypto neighborhood.
“It wasn’t till the exact same group that was attacking my household for no cause by any means apart from political opinions, began attacking [the] crypto neighborhood that it actually drove two individuals who won’t have all the time been like-minded collectively and that partnership has been completely superb,” he mentioned Thursday.
Apart from politics, he additionally realized actual property shouldn’t be as liquid as bitcoin, which has higher liquidity and was simpler to transact, solidifying his perception within the digital forex. “I additionally realized, form of, by way of a few of that political weaponization, you realize, a few of the limitations of actual property. Actual property has created super wealth for our household. On the identical time, actual property cannot be transferred. It’s totally exhausting to promote,” he mentioned.
“I offered a resort two years in the past. It took me a 12 months and a half to actually transact that resort as a result of you will have title stories and you’ve got managers that need to go in, and you’ve got finest proliferations. You do all types of issues,” Trump mentioned. “… You always need to handle it. You always have to observe operations, proper? After which impulsively, you’ve got obtained this type of digital asset which you need not watch, you need not handle. You recognize, it is easy to transact on.”
Trump is the co-founder and chief technique officer of American Bitcoin, a Bitcoin mining agency based in partnership with Hut 8 and slated to go public by way of a merger with Gryphon Digital Mining (GRYP).
The Gryphon partnership took place from a need to take the American Bitcoin partnership public as rapidly as doable, mentioned Hut 8 CEO Asher Genoot on stage alongside Trump to a standing-room solely crowd. An current mining enterprise was a key a part of that plan in addition to getting ‘American’ and ‘bitcoin’ as a part of the corporate identify.
“American Bitcoin, to me, is every thing, you realize. And I we got here up with the identify, I mentioned one factor. I mentioned, Hear, it has to have the phrase American, and it has to have the phrase Bitcoin in it,” Trump mentioned.
