According to Bloomberg Reports, Speaking at the TOKEN2049 event in Dubai, Eric Trump revealed that both he and President Donald Trump hold “a lot of Bitcoin.” Calling BTC “digital gold,” Eric predicted it’s going much higher and emphasized their bullish stance on its long-term potential. While he didn’t provide exact figures, he confirmed it’s a major personal investment.
Eric’s remarks echo Donald Trump’s growing support for crypto. The president has stated multiple times that he wants crypto to succeed, especially as a competitive edge against China. He even praised Bitcoin’s resilience during April’s financial market dip, saying it held up better than traditional markets.
Trump’s administration has already made moves to back crypto beyond just words. In March, Trump signed executive orders to consolidate seized Bitcoin into a U.S. crypto reserve, halting government selloffs. He also ordered the creation of a broader crypto stockpile, which includes altcoins, from forfeited assets. The aim is to maximize value without draining taxpayer funds.
U.S. Crypto Reserve in the Making
To further support the crypto sector, Trump appointed Paul Atkins as the new SEC Chair. Atkins is tasked with delivering clear, crypto-friendly regulations, a sharp contrast to the previous administration’s more skeptical approach.
Even before his presidency resumed, Trump made headlines with NFT launches and the meme coin TRUMP. Though the coin’s value soared briefly to a $75 billion market cap, it later crashed over 90%. Trump, however, denied any financial involvement, insisting he wasn’t profiting from the hype. Whether through executive orders, regulatory changes, or direct ownership, the Trumps are going all-in on Bitcoin, betting big on a crypto-powered future.
Trump Family Under Fire
Since returning to the office, President Trump’s conflicts of interest have reportedly escalated, with a spotlight on his ties to the crypto firm World Liberty Financial. According to New York Times journalist Eric Lipton, Trump has aggressively blurred the line between personal profit and public policy.
After pushing for the GENIUS Act, which favors stablecoin businesses, Trump’s family crypto company quickly launched its stablecoin, becoming a top global issuer. This prompted Senate Democrats to launch an inquiry into what they call “Trump crypto corruption,” and to propose the End Crypto Corruption Act, aiming to block top officials and their families from profiting off crypto endorsements or issuances.
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FAQs
It’s a government-held crypto stockpile formed from seized assets to maximize value without taxpayer burden.
The GENIUS Act supports stablecoin issuers and allegedly benefited Trump-linked crypto firms, sparking ethics concerns.
