Chatting with a packed auditorium at Consensus 2025, Eric Trump stated the quiet half out loud: “Everybody in the world is trying to hoard Bitcoin right now. Everybody. I hear it from sovereign wealth funds. I hear it from the wealthiest families. I hear it from the biggest companies. I mean the adoption of it is incredible. ”
The son of US President Donald Trump used the stage to elucidate why his newly fashioned mining enterprise, American Bitcoin, is being rushed onto public markets through a reverse-merger with Gryphon Digital Mining. Trump, who serves as the corporate’s chief technique officer, known as Bitcoin “digital gold” and a superior retailer of worth in contrast with the illiquid trophy properties that constructed the household fortune.
Bitcoin Is A ‘Race To The Top’
I actually consider in digital gold, which is Bitcoin,” he instructed the viewers. Trump contrasted the portability of Bitcoin with the illiquidity of trophy actual property that constructed the household fortune. “I sold a hotel a couple of years ago. It took me a year and a half to literally transact that hotel because title reports, escrows, lenders and managers all had to line up,” he instructed the group. “Then all of a sudden you’ve got this digital asset you don’t need to watch, you don’t need to manage. It’s global, it’s instantaneous. I can have a glass of wine with my wife on Saturday night and be transferring value at the same time. That’s modern-day finance.”
Trump additionally defined the FOMO he’s at present experiencing: “And so every single day, guys, I’m telling you, people who were kind of staunchly against it, people who didn’t understand it, people who were closed-minded, people who are kind of rhinos to traditional finance are coming around in a massive way. And I think the kind of spike in Bitcoin is going to be significant and therefore it really is kind of a race to the top right now. There’s a lot of people who are running very very hard at this mission.”
The pace motif additionally dominated Trump’s merger. “The speed at which the reverse merger happened—and the speed at which we’re going to get to market—is going to be pretty unparalleled for any public company,” he stated, describing a round the clock inside chat with Hut 8 CEO Asher Genoot and Gryphon executives that “literally goes back and forth all day, every day, Saturday, Sunday.” Minutes later he distilled the branding rationale: “American Bitcoin, to me, is everything… it has to have the word American and it has to have the word Bitcoin.”
Market information recommend buyers are rewarding that urgency. When Hut 8 and Gryphon unveiled their stock-for-stock deal on Might 12, Gryphon shares rocketed greater than 200% in pre-market commerce and Hut 8 gained 12%. The mixed firm will maintain the American Bitcoin identify, listing on Nasdaq beneath the ticker ABTC and is scheduled to shut within the third quarter, with Hut 8 retaining majority management.
Trump’s assertion that sovereign wealth funds at the moment are lively Bitcoin accumulators lands as giant public firms escalate their very own treasury methods. On daily basis new Bitcoin treasury firms are introduced. Additionally, sovereign wealth funds are loading up on Bitcoin. Simply yesterday, Mubadala, the Abu Dhabi sovereign wealth fund, disclosed proudly owning 8,726,972 shares of BlackRock’s spot BTC ETF (IBIT) in a 13F submitting, valued at $408.5 million.
For Trump, the macro panorama divides into two contests: an accumulation race, wherein gamers resembling Technique bulk-buy cash, and a mining race, which American Bitcoin intends to win by sourcing a number of the world’s most cost-effective electrical energy via Hut 8’s US infrastructure. “If I can mine an asset for literally a third the cost that it’s trading right now, and we can do that in America using the lowest-cost energy anywhere in the world, we’re on to something really good,” he stated.
The political subtext was by no means distant. Trump credited “political weaponization” in opposition to the household for pushing him towards crypto allies and argued {that a} liquid, censorship-resistant asset is an antidote to the hurdles confronted by onerous belongings. But he stored the tone promotional, not partisan. “I don’t think I’ve ever been more excited about a project.”
At press time, BTC traded at $103,889.
Featured picture created with DALL.E, chart from TradingView.com
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