Eric Trump, son of US President Donald Trump and co-founder of American Bitcoin, drew attention to the sharp increase in the interest of traditional finance giants in Bitcoin at the Consensus 2026 event held in Miami. Trump emphasized that major institutions, especially Bank of America’s Merrill arm, Charles Schwab and JPMorgan, have recently significantly changed their approach towards Bitcoin.
Bitcoin Expansion in Traditional Finance
Particular attention was drawn to the change in attitude of JPMorgan, which had once openly criticized cryptocurrencies. Eric Trump reminded that JPMorgan called Bitcoin “a joke asset” 18 months ago. He stated that now the bank has started to give mortgage loans to customers in exchange for their Bitcoin assets. Although JPMorgan CEO Jamie Dimon has maintained a distant attitude towards cryptocurrencies for years, it is known that the institution has invested in blockchain technology and asset tokenization over time.
Trump said, “JPMorgan was mocking Bitcoin 18 months ago, treating the asset as a joke… Now, we have reached the point where customers can use their Bitcoin assets as a mortgage and get a home loan. This happened in just 18 months.” He summarized the rapid transformation in the financial sector with his words.
Recalling that the Trump family was previously rejected by major financial institutions, Eric Trump stated that these institutions have now taken a step back and cannot stand against crypto. According to him, major financial institutions prefer to go with the flow rather than resist the current market dynamics.
Competition and Targets in Bitcoin Mining
American Bitcoin is the 16th largest publicly traded Bitcoin holder. According to Eric Trump’s statements, the company currently produces Bitcoin at a cost of 50 cents per dollar in the industry. This rate makes the company one of the leading players trying to obtain Bitcoin at the lowest cost among its competitors.
Trump, who serves as the company’s chief strategy officer, also argued that Bitcoin has gained new momentum in the current situation. He underlined that despite market volatility, Bitcoin has begun to stand out as a store of value.
Future Expectations in the Industry
Trump repeated his claim that Bitcoin could reach the one million dollar level over time. He highlighted in his speech at the event that it has gone beyond being just a financial investment tool and that more and more institutions are starting to add Bitcoin to their portfolio of alternative assets.
The adoption of crypto by major players in the traditional banking world has begun to make the impact of the sector on the mainstream financial system felt. In particular, the latest steps taken by leading institutions such as JPMorgan are seen as a sign of a new era in terms of the acceptance of cryptocurrencies.
Eric Trump summarized this change in the financial world as follows: “Financial institutions have now realized that they cannot prevent this. All that remains is to join the trend.”
According to experts, the fact that major financial institutions start investing in crypto assets, which they used to oppose, could accelerate the maturation process of the sector. Bitcoin, in particular, is at the center of this trend.
The impact of the support given to cryptocurrencies during Donald Trump’s presidency on the American financial system is noteworthy. Thanks to this support, awareness of crypto has increased among companies and individual investors.
Mining companies such as American Bitcoin are also considered to play a central role with their cost optimization and growth strategies. Long-term expectations for the BTC price continue to be one of the main agenda items of the industry.
