JACKSON HOLE, Wyo. — U.S. President Donald Trump’s son, Eric Trump, is convinced bitcoin
Trump, who co-founded bitcoin mining company American Bitcoin earlier this year, reiterated his excitement for bitcoin during an appearance at the SALT conference in Jackson Hole on Wednesday.
The businessman and executive vice president of the Trump organization said he now spends over 50% of his time on crypto projects.
He said he believes that the crypto asset will be worth $175,000 a token by the end of the year, sticking with his earlier prediction.
Trump told several personal stories pointing out what he described as the flaws of the current financial system and how bitcoin and blockchain technology can solve those issues, including faster transactions and payment settlements.
American Bitcoin, which merged with Eric and his brother Donald Trump Jr-owned American Data Center in March, is expected to go public on Nasdaq via a merger with Gryphon Digital Mining (GRYP).
The brothers own 20% of the company while bitcoin miner Hut 8 holds the remaining 80%.
Trump’s comments came hours after Coinbase CEO Brian Armstrong made a similar prediction.
