Eric Trump Promotes Ethereum (ETH) on X, Tops Up WLFi Reserve, and Known Author Points Out Why Ether is Tanking Relative to Bitcoin

Eric Trump, Executive Vice President of the Trump Organization, recently promoted Ethereum (ETH) on X. He tweeted around UTC midnight

Donald Trump's son recently tweeted about Ethereum (CRYPTO: ETH), sparking speculation within the crypto community.

What Happened: Eric Trump, Executive Vice President of the Trump Organization, tweeted late Monday night, "In my opinion, it’s a great time to add ETH. You can thank me later."

Trump deleted the last sentence of the tweet for some reason. However, his comments sparked speculation among crypto enthusiasts.

Trump Jr.'s Tweet Impacts Crypto Community: Trump Jr.'s tweet also had an impact on the crypto community.

One interesting observation was made by Parker Lewis, author of the book “Gradually, Then Suddenly” and Head of Business Development at the Zaprite Bitcoin (CRYPTO: BTC) payments portal.

Responding to Trump Jr.'s comment, Lewis told people reading the presidential son's post to do their research because insider VCs are already dumping on them.

Along the way, he reiterated the points he had made previously about why Ethereum had been collapsing relative to Bitcoin.

According to Lewis, Bitcoin is fully decentralized, permissionless, and resistant to all forms of censorship. In contrast, Ethereum is becoming more and more centralized, which was an issue that its founder Vitalik Buterin and JPMorgan pointed out earlier.

In fact, the author claimed that the chain is even more centralized than the US Federal Reserve. For this very reason, entities holding a lot of stake and control within the network could easily and frequently amend its rules.

Moreover, Lewis criticized Ethereum's lack of a hard cap, unlike Bitcoin's fixed supply of 21 million coins. He emphasized that the former also possessed a defunct account-based technical architecture.

Wrapping things up, he urged people to sell their Ether and buy Bitcoin instead.

"Get out before the final collapse," said Lewis. "Either someone else figures this out first, or you do."

In an older post, Lewis referred to Ethereum as a “long con” that's “peddled by grift.” He stated that once Ethereum collapses, it would signal the eventual “death of crypto” and a massive shift to Bitcoin.

Trump Jr.'s Father Previously Promoted Digital Currencies: This is not the first time that a member of the Trump family has shown support for digital currencies.

In 2022, former President Donald Trump promoted several digital currencies, including Bitcoin, Ether, Litecoin (CRYPTO: LTC), Chainlink (CRYPTO: LINK), VeChain (CRYPTO: VET), Floki Inu (CRYPTO: FLOKI), and Tamadoge (CRYPTO: TAMADOGE).

Trump also stated that he prefers Bitcoin over Ether and that he believes Bitcoin will eventually reach $500,000.