TORONTO —Eric Trump, the son of U.S. President Donald Trump, mentioned he believes bitcoin is digital gold and known as the biggest digital foreign money a retailer of worth, throughout a packed panel at Consensus 2025 in Toronto.
“I actually imagine in digital gold, which is bitcoin, proper? I imagine 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 in anyway aside from political opinions, began attacking [the] crypto neighborhood that it actually drove two individuals who may not have at all times been like-minded collectively and that partnership has been completely wonderful,” he mentioned Thursday.
Except for politics, he additionally realized actual property is just not as liquid as bitcoin, which has higher liquidity and was simpler to transact, solidifying his perception within the digital foreign money. “I additionally realized, type of, by way of a few of that political weaponization, you understand, a few of the limitations of actual property. Actual property has created large 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’ve gotten title stories and you’ve got managers that need to go in, and you’ve got greatest proliferations. You do all kinds of issues,” Trump mentioned. “… You continually need to handle it. You continually have to look at operations, proper? After which hastily, you’ve got bought this type of digital asset which you needn’t watch, you needn’t handle. , 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 through a merger with Gryphon Digital Mining (GRYP).
The Gryphon partnership happened from a need to take the American Bitcoin partnership public as rapidly as potential, 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 title.
“American Bitcoin, to me, is every thing, you understand. And I we got here up with the title, 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.