TLDR
Eric Trump calls Bitcoin the greatest asset of our time amid price drop.
American Bitcoin earned $3.5 million profit in Q3 after NASDAQ debut.
Eric says ABTC mines Bitcoin at half the market price in West Texas.
Democrats urge federal probe into Trump-linked WLFI token activity.
Eric Trump has reiterated his support for Bitcoin, calling it a long-term opportunity despite the recent decline in price. Speaking at Yahoo Finance’s Invest event, he stated, “It’s probably become the greatest asset of our time.” He emphasized that price corrections are temporary and said, “This is a great time to buy Bitcoin.”
Trump referred to historical price movements, noting that Bitcoin was near $16,000 three years ago and reached over $120,000 earlier this year. Though prices have since fallen below $100,000, he described the trend as part of broader adoption. He cited growing institutional investment and Bitcoin ETFs as signs that the digital asset is entering a new phase of growth.
American Bitcoin Reports $3.5 Million Q3 Profit
American Bitcoin (ABTC), a company co-founded by Eric and Donald Trump Jr., posted $3.5 million in net profit in Q3. The company went public in September and now holds a $4 billion market valuation. According to Eric Trump, the firm’s mining operations are based in West Texas and benefit from low energy costs.
He said the company mines Bitcoin at roughly 50% of the spot market price, adding, “It’s one of the most efficient operations in the country.” One of their facilities now accounts for more than 2% of global Bitcoin mining output. ABTC uses a metric called Bitcoin holdings per share to measure performance instead of short-term profits.
The company’s Q3 report showed a 56% gross margin. Trump explained that the focus is on expanding reserves rather than reacting to market swings. He believes this model provides more stability during periods of volatility.
Crypto Push Tied to Banking Challenges
Eric Trump cited personal and business challenges with major banks as part of the reason for moving into cryptocurrency. He said that institutions like Capital One, JPMorgan, and Bank of America closed around 400 accounts connected to Trump businesses.
He called these closures politically motivated, stating that “blockchain solves a lot of the weaponization of the banking industry.” He explained that being removed from the banking system helped drive the Trump family’s investment in decentralized finance platforms and stablecoins.
World Liberty Financial (WLFI), another Trump-linked crypto initiative, issues the WLFI governance token and the $USD1 stablecoin. Eric said the stablecoin is “the fastest-growing platform on Earth,” and claimed it improves transaction speed and lowers costs by bypassing traditional wire systems.
Federal Scrutiny Over Trump Crypto Activity
Democratic Senators Elizabeth Warren and Jack Reed have requested a federal investigation into WLFI. The call for a probe follows claims that tokens may have been sold to questionable parties. Reports also raised concerns about transparency and potential links to bad actors.
Despite the scrutiny, Eric Trump confirmed that the Trump Organization holds large amounts of digital assets. “Yeah, we have a ton of it on the balance sheet,” he said. He also noted that he personally holds Bitcoin and remains fully committed to the crypto sector.
He believes digital assets will help reshape the financial system and attract global capital into the U.S. economy. “It’s going to onboard trillions of dollars into the US,” Trump said, asserting that crypto solves delays and inefficiencies tied to older financial systems.
