In a recent interview, Eric Trump - son of former U.S. President Donald Trump - stirred public opinion by asserting that his father holds a significant amount of Bitcoin and has a strong belief in the future of cryptocurrency. Eric referred to Bitcoin as 'digital gold' and predicted it will grow exponentially in the coming years.
Significant Holdings and a New Perspective on Bitcoin
Eric Trump did not disclose specific figures but mentioned that the two of them have a 'significant' investment in Bitcoin, viewing this as a 'big personal gamble'. These statements came amid Donald Trump's increasingly evident interest in the cryptocurrency space - a stark contrast to his previous skeptical and critical stance on crypto.
According to Eric, Trump now believes that cryptocurrency is a key factor for America's future, emphasizing that if the U.S. does not seize this opportunity, China will dominate this field. He also noted that cryptocurrencies are 'very popular' and 'extremely hot' at the moment.
In April, when traditional financial markets experienced significant volatility, Trump was reportedly impressed by Bitcoin's relative stability - which caught his attention and led him to appreciate the potential of the digital asset more.
National Bitcoin Reserve Instead of Selling
Another surprising piece of information revealed by Eric is that his father issued an executive order in March to stop selling Bitcoin seized by the government. Instead, these assets will be placed into a national cryptocurrency reserve fund, aimed at protecting and potentially increasing their long-term value.
This initiative will not use budget funds, but will continue to buy more Bitcoin and other cryptocurrencies through seizures and the handling of confiscated assets - similar to a reinvestment approach.
Changes at the SEC: Paul Atkins Returns
The interview also addressed changes at the U.S. Securities and Exchange Commission (SEC) under Trump. Accordingly, former SEC commissioner Paul Atkins will take on a leadership role at the agency, with the goal of changing how the cryptocurrency industry is regulated to be clearer and more transparent.
This is part of an effort to reform and eliminate the legal ambiguity that has made it difficult for cryptocurrency investors in the U.S. for many years.
TRUMP Coin: Short-Term Speculation Bubble
In a related development, the cryptocurrency named TRUMP - launched on his inauguration day - had a shocking market cap of $75 billion just 48 hours later. However, this coin quickly lost over 90% of its value, leading many to suspect that Trump is leveraging his personal image to profit from cryptocurrency.
However, Trump completely denied any connection to the performance of this coin, asserting that he did not create TRUMP Coin, did not profit from it, and was also unclear about the related figures.
Big Bets on the Crypto Future
Despite many lingering doubts, it is clear that both Donald Trump and Eric Trump are placing big bets on the future of cryptocurrency. The remaining question is: will this gamble pay off, or will it just be another wave of speculation?