Crypto Reporter
Shalini Nagarajan
Crypto Reporter
Shalini Nagarajan
Share
Eric Trump has claimed that surging demand for cryptocurrencies could “save the US dollar” by drawing global investment flows into America, tying the fortunes of digital assets to the strength of the nation’s currency.
The president’s son and outspoken crypto supporter told the Financial Times this week that the digital assets boom would funnel “trillions from around the world in wonky currencies” into the US.
He argued that Bitcoin mining and financial independence could power “a kind of financial revolution” rooted in America, adding, “I think it arguably saves the US dollar.”
Trump’s remarks came hours after he rang Nasdaq’s opening bell to celebrate the market debut of American Bitcoin Corp, a company where he holds a stake valued at more than $500m, according to FT.
The firm emerged earlier this year from a merger between his family-backed American Bitcoin venture and Gryphon Digital Mining, and now trades under the ticker ABTC.
Weaker Dollar Reflects Fed’s Cautious Easing and Mounting Debt Fears
The comments land at a time when the US dollar has weakened. President Donald Trump’s trade battles, along with his frequent clashes with the Federal Reserve, have unsettled investors.
The Fed cut interest rates on Wednesday for the first time this year, reinforcing concerns over inflation and debt levels that continue to pressure the greenback.
Donald Trump has repeatedly argued for lower rates since taking office, saying the US benefits more from a weaker currency. He has also pledged to make America the “crypto capital” of the world and encouraged regulators to take a lighter approach to digital assets, fueling record highs in bitcoin and other tokens.
Trump Family Expands Crypto Interests From ETFs to Memecoins and Stablecoins
The Trump family’s interests in crypto now span a Truth Social Bitcoin ETF, memecoins named after Donald and Melania Trump, and a stablecoin venture tied to Trump Media & Technology Group.
Speaking at the Bitcoin 2025 Asia conference in Hong Kong last month, Eric Trump predicted Bitcoin would inevitably reach $1m. He pointed to mounting demand from governments, corporations and wealthy families. “Everybody wants Bitcoin. Everybody is buying Bitcoin,” he said.
Further, Trump cast crypto as a challenge to Wall Street. He said he took pride in building companies without the help of America’s biggest banks, describing it as “the ultimate revenge against the big banks and modern finance.”
The Trump Organization is currently suing Capital One, alleging it closed its accounts in 2021 for political reasons, which the bank denies.
He added that crypto has changed perceptions of financial access. “You realise you just don’t need them. And frankly, you don’t miss them,” he said, referring broadly to Wall Street lenders.
Trump Ties to Stablecoins Add Political Weight to Financial Debate
Stablecoins in particular are emerging as a flashpoint between crypto and banking. US banking executives have warned they could drain deposits if they offer higher yields than savings accounts.
At the same time, the White House has encouraged issuers such as Tether and Circle to buy US Treasury debt, a move seen as key to supporting the bond market as Washington issues trillions of dollars in new debt each year.
Eric Trump has his own stake in that trend. Last year, he co-founded World Liberty Financial Inc, which runs a stablecoin pegged to the US dollar. According to disclosures, his father held more than 15b WLFI tokens at the end of 2024, a position worth more than $3b at recent prices.
The younger Trump, however, downplayed the financial windfall. “If my father cared about monetizing his life, the last thing he would have done is run for president, where all we’ve done is un-monetize our life,” he said.
Credit: Source link
