Eric Trump Endorses Bitcoin as Top Store of Value, Trump Family Launches Mining Venture

Eric Trump, son of former U.S. President Donald Trump, has reiterated his strong support for Bitcoin, describing it as "one of the greatest stores of value." This endorsement came during an interview on Fox Business, where he shared his evolving perspective on digital assets. Eric Trump, known for his background in real estate, admitted that his views on cryptocurrency have shifted significantly. He cited the misuse of power by traditional banks and the politicization of financial services as key factors that opened his eyes to the potential of Bitcoin.

Eric Trump's comments reflect a broader trend within the Trump family's business dealings, as they have increasingly embraced the cryptocurrency industry. The family has launched various ventures and partnerships, including a new Bitcoin mining business called American Bitcoin. This venture is a strategic partnership with Hut 8, a recognized leader in the Bitcoin space. Eric Trump will serve as the strategy officer for American Bitcoin, with the Trump family and their investors set to receive 20 percent of the profits.

The launch of American Bitcoin is part of a broader trend within the Trump family's business dealings. The family has been actively courting crypto executives and investing in various cryptocurrency-related projects. This includes the launch of a crypto investment fund and a stablecoin, which is a cryptocurrency pegged to treasuries and the U.S. dollar. These moves have been made despite regulatory scrutiny and conflicts of interest, as the Trump family continues to push for an end to enforcement by regulators.

Eric Trump's endorsement of Bitcoin as a store of value highlights the family's evolving perspective on cryptocurrency. While initially skeptical, the Trumps have now fully embraced the potential of digital assets. This shift is evident in their numerous ventures and partnerships within the industry, as they seek to capitalize on the growing interest in cryptocurrency. The family's involvement in Bitcoin mining and other related projects underscores their commitment to the sector and their belief in its long-term potential.