Bitcoin continues to trade above the $100,000 mark, holding steady as institutional adoption grows and competition in mining heats up. While the spotlight often falls on companies like MicroStrategy for their aggressive purchases, a new competitor has entered the scene with a radically different strategy.
Trump's Big Bet on Mining
At Consensus 2025, Eric Trump, co-founder of American Bitcoin, unveiled his ambitious plans to mine Bitcoin for only $37K to $38K per BTC. This is nearly one-third of the current market price. Trump believes that this economic approach will help his company surpass MicroStrategy in the race to dominate Bitcoin holdings.
Instead of buying in over-the-counter (OTC) markets, American Bitcoin aims to acquire BTC directly through mining, positioning itself as a new kind of powerhouse. Eric Trump emphasized that there are 'two races for Bitcoin: buying and mining,' and he is confident that American Bitcoin will win the mining race by focusing on economic production.
Target of MicroStrategy's Throne
MicroStrategy has built a massive position of 568,000 BTC through persistent purchases, but American Bitcoin plans to mine to reach similar levels. CEO Asher Genoot, who launched the company in March 2025, said they are prepared to invest billions in scaling up mining operations.
But its message is clear: American Bitcoin is not just trying to catch up; it wants to overtake. And with lower production costs, it believes it has the advantage over other countries like China.
On the contrary…
Despite its bold vision, American Bitcoin is already facing scrutiny. Concerns have been raised about potential conflicts of interest due to the Trump family's broader involvement in cryptocurrencies. But Eric Trump dismissed the concerns, expressing a strong belief in Bitcoin's long-term role and even suggesting that it could replace SWIFT as the backbone of global payments.
Lobbyists in Power 1⃣ Eric Trump, son of the former president, recently stated: 'Now it’s a real race – who can accumulate more Bitcoin faster.' 2⃣ In a second interview on CNBC, Eric openly said: 'SWIFT is a disaster. It's time for blockchain, cryptocurrencies and… pic.twitter.com/zl1Z5tY9IG
— xtra (@Xtrax_eth) May 15, 2025
Cryptocurrency analyst Xtra says that Eric Trump's recent comments in favor of Bitcoin and against SWIFT are not just talk; they are part of a larger game. He argues that Trump's circle is using low liquidity and loose regulation of cryptos to quietly gain billions while promoting a patriotic narrative to transform the U.S. into a crypto powerhouse. He also reminds followers of Trump's silent executive order on 'crypto reserve' from March, which included ETH at the last minute, coinciding with a jump in SOL from $140 to $180. He calls this a classic case of political market manipulation that has now conveniently been forgotten.
As the next phase of institutional Bitcoin adoption unfolds, it is no longer just about who buys the most; it is about who mines more intelligently. With Bitcoin above $100K, American Bitcoin's bold mining-first approach could reshape the rankings in the coming years.
