Eric Trump called Bitcoin “one of the greatest stores of value” and “an unbelievable hedge against real estate” during a Tuesday interview with FOX Business Network, where he said he no longer sees property as the safest bet.
Eric said banks shut down every financial channel connected to the Trump family, and that’s what pushed him into crypto in the first place. “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,” he told FOX.
Eric joins Bitcoin mining and DeFi through American Bitcoin and WLFI
Since that fallout, Eric has taken a front-row seat in the crypto economy. He now backs American Bitcoin, a mining company launched with Hut 8 and other Trump family connections. He said the company officially launched yesterday and believes it’ll be a major player. “American Bitcoin. I think it’s going to be one of the great companies out there. So I truly believe in it,” Eric said during the interview.
When asked about his family’s project, World Liberty Financial, Eric said, “It’s doing phenomenally well.” WLFI isn’t new either. He said it was built years ago, before Donald Trump stepped into the White House for the first time. “We started World Liberty long before my father ever got elected to the White House,” he told Bloomberg TV in a separate interview Tuesday.
Eric also said there’s no conflict of interest between WLFI and his father’s presidency. “I’ve been in private industry my entire life,” he added. He said he believes in crypto and DeFi deeply and saw their potential early on, even before banks came after him. “We believed in crypto for a very long time. We believed in DeFi,” Eric said.
He pointed out that Bitcoin’s decentralized system is immune to the kind of censorship he claims traditional financial institutions carry out.
During his Bloomberg interview, Eric once again described those institutions as hostile and punitive. “We saw the worst of the banking institutions,” he said, “as they tried to cancel not only myself, my family, our companies in every way, shape or form.”
Eric says stablecoins can save the dollar
Eric said he’s still stuck in an outdated system that requires constant follow-ups. “There’s not a day that goes by where I’m not chasing a SWIFT wire transfer, hoping it comes in before the 4 p.m. deadline,” he said. He said banks are too slow and their systems are broken. In contrast, he said he could send Bitcoin worth millions overseas “while having a glass of wine with your wife at 11:00 at night.”
That’s how Eric sees the future of finance. Not with the dollar fading, but with stablecoins fixing it. He said he supports U.S.-based stablecoins and dismissed the idea of using European versions. “I really actually think that U.S. stablecoin saves the dollar in a very big way,” he said.
Eric then said the U.S. can’t afford to fall behind. He said the whole industry is asking for regulation. “Everybody wants guidelines,” Eric said. He called for clarity in how crypto is governed and warned that if the U.S. doesn’t act, it will lose dominance in finance. “When we look out 10 years in this country, the nature of finance, the nature of banking is going to be very, very different than it is today,” he said.
Eric said the mission now is to rebuild the financial system. He said American Bitcoin plays a key part in that. He also said WLFI’s stablecoin project will bring major wealth into the U.S.
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