#Eric Eric Trump says the world is rushing to hoard Bitcoin right now
Eric Trump, son of US President Donald Trump, declared that a global rush to accumulate Bitcoin is underway.
At the Consensus 2025 conference in Toronto on May 15, he emphasized the widespread interest in Bitcoin, stating, “Everybody in the world is trying to hoard Bitcoin right now.”
“I’m traveling. I’m on a plane. Everybody in the world is trying to hoard Bitcoin right now. Everybody. I hear it from sovereign wealth funds. I hear it from the wealthiest families. I hear from the biggest companies.”
The comments came from a panel featuring Trump and Asher Genoot, CEO of Bitcoin mining company Hut 8. His more immediate future outlook is in the form of two races he sees currently taking place in the Bitcoin space: the race to buy Bitcoin and mine.
Trump’s Bitcoin venture joins Gryphon in pre-listing deal
Eric Trump is not only talking about Bitcoin; he’s building a business empire around it. His company, American Bitcoin, entered a deal to merge with Gryphon Digital Mining on May 12. The deal, structured as an all-stock exchange offer, will merge two powerful mining companies into a combined entity that the two companies said will be publicly listed on the Nasdaq later this year.
American Bitcoin is a unit of Hut 8, one of North America’s largest cryptocurrency mining companies. The merged company will become one of the biggest Bitcoin miners in the United States.
Trump, who co-launched American Bitcoin alongside his brother, is bullish on the space. They aim to make American Bitcoin a conduit for people and institutions to invest in Bitcoin, largely through the US-regulated stock markets.
The deal is scheduled to close in the third quarter of 2025.
Lawmakers slam Trump’s growing crypto ventures
But not everyone is cheering. The uncloaked investment of the Trumps in the crypto world has raised the government’s scrutiny — particularly among Democrats on Capitol Hill. Critics are concerned about conflicts of interest and potential political power over the digital asset market.
It marries Trump’s unscrupulous business tendencies with an industry that is notorious for fraud, scams, and a lack of transparency.
President Trump recently ordered the establishment of a US Strategic Bitcoin Reserve, an order that shocked the world of politics at home and abroad. Some welcomed it as forward-looking, $BTC
