The president’s son promoted his latest venture at a Bitcoin conference in Hong Kong.
Eric Trump, the third child of President Donald Trump, showed up in Hong Kong this week to hawk his latest crypto venture and, according to him, it’s going to the moon.
Trump spoke at Hong Kong’s Bitcoin Asia 2025 conference, the first stop in a planned series of crypto events across Asia featuring various Trump family members.
At the conference, Trump declared that his family “loves†the crypto community and downplayed concerns about the president’s conflicts of interest with the industry. He also predicted that Bitcoin would hit the $1 million price mark in the next few years (it’s always $1 million with these guys). And, unsurprisingly, he used the spotlight to plug his own project, American Bitcoin.
“We are one of the biggest Bitcoin mining companies on Earth,†Trump told the crowd, according to NBC News. “We mine about 3% of the world’s Bitcoin every single day.â€
Trump launched American Bitcoin back in March with his older brother, Donald Trump Jr., and the energy infrastructure company Hut 8. American Bitcoin is an industrial-scale Bitcoin mining and strategic Bitcoin reserve development company. In a press release, the company said it aims to “become the world’s largest, most efficient pure-play Bitcoin miner.â€Â
Trump made the comment, as the company plans to go public “very soon†through a merger with Gryphon Digital Mining, a Nasdaq-listed firm.
According to Trump, his family first got interested in crypto after being cut off from traditional banking services due to his father’s involvement in politics.Â
The crypto industry, which saw itself as unfairly targeted by the Biden administration, embraced the Trumps and threw an estimated $135 million behind getting Trump Sr. and other crypto-friendly candidates elected during the 2024 cycle, NBC reported.
And the scheme appears to have paid off. Since returning to office in January, Trump has moved to ease crypto regulations, appointed a so-called “crypto czar,†and even hosted a White House summit with industry leaders. Just last month, he signed the GENIUS Act, setting federal rules for stablecoins.
Bitcoin’s price has surged throughout Trump’s second term, sitting at $108,000 today, up 55% from about $70,000 on election day last year.Â
The watchdog group State Democracy Defenders Fund estimates that, as of mid-March, Trump’s crypto assets were worth $2.9 billion on paper, accounting for roughly 37% of his total wealth.
Much of that fortune is thanks to ventures like the $TRUMP memecoin, which launched ahead of Trump’s second inauguration. His wife, Melania Trump, even has a memecoin of her own.
In May, Trump (officially) spent just 20 minutes in a private dinner near Washington for the top 220 buyers of $TRUMP, each of whom had shelled out an average of $1 million on the token, totaling $148 million.
