Eric Trump Reiterates His Embrace of Bitcoin, Calling It an Excellent Store of Value

US President Donald Trump's son, Eric Trump, has reiterated his embrace of Bitcoin, calling it an excellent store of value and a strong hedge against real estate

President Donald Trump’s son, Eric Trump, has once again expressed his interest in Bitcoin, calling it a great store of value and hedge against real estate, an asset class he is deeply familiar with due to his background in construction and property development.

Trump also explained how he became interested in crypto after a widespread cancellation of bank accounts targeting the Trump family without any justifiable reason. According to him, these actions were part of a larger movement to target conservatives, and he believes they were largely political in nature.

“I never thought I’d fall into the world of crypto until every bank started cancelling us for absolutely no reason whatsoever other than the fact that my father was in politics,” Trump said, adding that he and his family were targeted by large institutions.

The experience led him to appreciate Bitcoin’s decentralized nature, which makes it resistant to censorship.

The Trump Organization executive is now involved in several crypto ventures, including World Liberty Financial (WLFI) and American Bitcoin. American Bitcoin, the Bitcoin mining venture backed by Trump’s sons and Hut 8, just launched yesterday.

“American Bitcoin. I think it’s going to be one of the great companies out there. So I truly believe in it,” he said.

Discussing the DeFi venture, Trump expressed confidence in its future success, stating, “It’s doing phenomenally well.” Last week, WLFI announced the launch of its stablecoin, USD1. The announcement came after the team successfully raised over $550 million through token sales.

Regarding crypto regulations, Trump stressed the need for clearer guidelines in the industry, noting that “everybody wants guidelines” and that the US needs to maintain leadership in the space.