Speculation surrounding Eric Trump’s business activity in Asia sent one Japanese stock soaring before crashing, but the U.S. president’s son has now set the record straight.
A photo of Trump standing next to the president of ABC, a Tokyo-listed firm formerly known as GFA, quickly circulated among investors. The image fueled talk that Trump was working with the company, sparking a rush of foreign buying. ABC’s share price spiked, only to plunge nearly 18% once Trump publicly denied any involvement.
Trump’s Statement
Posting on X, Trump said the photograph was taken casually at a conference and was not evidence of any partnership. “I don’t know who this is, nor do I have any involvement in this company,” he wrote, adding that his only business relationship in the region is with Bitcoin-focused Metaplanet.
Commitment to Metaplanet
Trump was recently named a strategic advisor to Metaplanet, which has drawn comparisons to MicroStrategy for its aggressive Bitcoin accumulation strategy. He attended the company’s shareholder meeting last week, reinforcing his association with the firm.
Metaplanet, for its part, continues to grow its crypto reserves. On Monday, it added 136 BTC to its balance sheet at an average cost of $111,783, bringing total holdings to 20,136 BTC — worth over $2 billion.
Trump’s clarification highlights both the market’s sensitivity to high-profile names and his intent to stay aligned solely with Metaplanet in Asia.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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Source: https://coindoo.com/eric-trump-doubles-down-on-bitcoin-treasury-role-in-japan/
