Eric Trump, the son of the former U.S. president, was in Jackson Hole, Wyoming this week, and he had a lot to say about bitcoin. He seems to be putting his money where his mouth is, too. Or at least, a significant amount of his time.
The businessman mentioned that he now spends more than half of his working hours on cryptocurrency projects. That’s a pretty big shift for someone whose main role has been with the Trump Organization. It shows a real commitment, or maybe just a serious bet on the future.
A “Bitcoin Maxi” with Big Predictions
During his talk at the SALT conference, Trump didn’t hold back. He even called himself a “bitcoin maxi,” which is a term you hear a lot in crypto circles for people who are all-in on bitcoin above everything else. It’s a strong stance to take.
And his predictions are certainly maximalist. He’s sticking to his previous forecast that bitcoin could hit $175,000 by the end of this year. But that’s just the short-term view. The really eye-popping number is his long-term belief that it will eventually cross the $1 million mark. It sounds almost fantastical, but he’s not the only one whispering numbers like that these days.
Pointing Out Flaws in the System
His enthusiasm isn’t just about price. He told a few stories to illustrate what he sees as major problems with our current financial setup. Things like slow transaction times and delayed payment settlements. He argues that bitcoin and the technology behind it, the blockchain, offer a way to fix those issues. It’s a common argument, but one that’s gaining more traction outside of tech circles.
This isn’t just theoretical for him. Earlier this year, he co-founded a company called American Bitcoin. Back in March, it merged with American Data Center, which he owns with his brother, Donald Trump Jr. The combined operation is now expected to go public on the Nasdaq exchange by merging with a company called Gryphon Digital Mining.
The Business Behind the Belief
The ownership structure of this venture is pretty interesting. The Trump brothers together own 20% of the company. The other 80% is held by Hut 8, a much larger and established bitcoin mining operation. It suggests this is more of a partnership than a solo flight, leveraging existing expertise.
Interestingly, his bullish comments came just hours after Coinbase CEO Brian Armstrong made a similarly optimistic prediction about bitcoin’s future. It feels like a theme is developing among certain figures in the industry, a shared confidence that’s hard to ignore, whether you agree with it or not. It makes you wonder if they know something the rest of us are missing, or if it’s just the echo chamber of conviction.
