Eric Trump cited politically motivated bank account closures by major financial institutions as his primary motivation for entering cryptocurrency through American Bitcoin.
Eric Trump, an executive at the Trump Organization and co-founder of American Bitcoin, said that actions by large financial institutions to close his family’s bank accounts were a primary motivation for his entry into the crypto industry.
In a Sept. 17 interview with Bloomberg, Trump stated that firms including JPMorgan Chase and Bank of America sent letters terminating banking services for various family-managed properties. He claimed the actions were politically motivated and served as a catalyst for his interest in decentralized finance.
He described the experience as the “weaponization of the financial industry,” which he believes exposed how broken and inefficient the current system is. This view is shared by other public figures, with some like author Robert Kiyosaki backing Trump’s crypto plans as an alternative to mainstream financial products.
From TradFi Disillusionment to Bitcoin Accumulation
This disillusionment directly led to his involvement with American Bitcoin, a company focused on acquiring and holding Bitcoin BTC $116 718 24h volatility: 0.1% Market cap: $2.33 T Vol. 24h: $53.23 B . The company seeks to provide investors with exposure to the digital asset through an actively managed strategy.
Appearing alongside Trump, American Bitcoin CEO Michael Ho clarified that the company operates as a “Bitcoin accumulator.” He explained that the firm uses its mining operations as one layer of a broader strategy to acquire Bitcoin at a discount to its market price. This reflects a recent industry trend where bitcoin miners are accumulating reserves instead of immediately selling.
The vocal support for crypto from figures connected to politics has led to speculation about its future market performance. For example, BitMEX co-founder Arthur Hayes predicts a major crypto market rally could be tied to future economic policies that favor liquidity.
Real Estate and Bitcoin as Financial Hedge
Trump also presented his pro-Bitcoin stance through the lens of his extensive real estate background, calling the asset the “perfect hedge” for illiquid investments. He contrasted the months-long process of selling a commercial building with the ability to liquidate large sums of Bitcoin almost instantly.
The tokenization of real-world assets is a fast-growing sector, and Polygon dominates the RWA market as it recently surpassed $1.1 billion in total value locked, according to a Dune report. This trend of bridging property with blockchain is also expanding globally, with the Chinese real estate giant Seazen Group to launch NFTs and issuing tokenized debt.
Trump’s public advocacy adds another prominent business figure to the list of those who view digital assets as a necessary alternative to the established financial system that can be weaponized against any individual or organization.
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