Key Takeaways:
- Eric Trump stated there’s a global rush to accumulate Bitcoin, involving sovereign wealth funds, wealthy families, and major corporations.
- Trump highlighted two fronts of Bitcoin competition: accumulation, led by figures like Michael Saylor, and mining, where he is involved through American Bitcoin.
- Trump’s expanding crypto ventures, including NFTs and stablecoins, are drawing political scrutiny and may impact upcoming U.S. legislation.
At Consensus 2025 in Toronto, Eric Trump, co-founder of a Bitcoin mining firm and son of President Donald Trump, declared that global interest in Bitcoin is intensifying.
He claimed that everyone—from sovereign wealth funds to major corporations—is scrambling to accumulate Bitcoin.
JUST IN: 🇺🇸 Eric Trump says it's a "race to the top" to accumulate as much Bitcoin as possible. pic.twitter.com/Cw9QhdZzUE
— Watcher.Guru (@WatcherGuru) May 15, 2025
Appearing alongside Asher Genoot, CEO of Hut 8, Trump identified two major battlegrounds in the crypto space: accumulation and mining.
He credited Michael Saylor of MicroStrategy as a frontrunner in the Bitcoin accumulation race, while highlighting his own focus on mining through American Bitcoin, a subsidiary of Hut 8.
On May 12, American Bitcoin announced a merger with Gryphon Digital Mining, aiming for a Nasdaq listing.
Trump’s crypto ventures extend beyond mining into NFTs, memecoins, and stablecoins—moves that have sparked political backlash.
Critics, especially among Democrats, cite potential conflicts of interest and have called for investigations.
These concerns recently led Senate Democrats to halt support for a bipartisan stablecoin bill.
Despite the controversy, a second vote on the bill is expected as early as May 26, keeping Trump’s crypto dealings in the political spotlight.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.
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