Eric Trump, son of US President Donald Trump, spoke after the Bitcoin crash. Here are the details.
Eric Trump, son of US President Donald Trump, remains optimistic about Bitcoin despite the recent declines in cryptocurrency markets.
He said at a program he attended that investors postponed buying in anticipation of a “lower price,” but that this led to missed opportunities.
“Every day people say the price is high and want to wait for it to come down. Then when it does, they wait again. Now is a great time to buy Bitcoin. No doubt about it,” Trump said.
Trump, who described Bitcoin’s long-term performance as unparalleled, noted that the asset, which traded at $36,500 two years ago and $16,000 three years ago, was around $90,000. “There’s no other asset class that has yielded better returns than Bitcoin over the last decade,” he said.
Eric Trump cited the approval of spot Bitcoin ETFs, the digital asset initiatives of financial giants like JPMorgan, Schwab, and Fidelity, and the growth of Coinbase and Robinhood as supporting the rise in institutional adoption. He said that accessing Bitcoin is now much easier through traditional financial channels.
Trump, noting that demand has come from around the world, argued that large corporations, wealthy families, and some countries want to add BTC to their reserves. “Everyone wants Bitcoin,” he said. “BTC is digital gold and solves many of the problems in the current monetary system.”
