Eric Trump Says Now Is A “Great Time To Buy Bitcoin,” Calls BTC The “Greatest Asset Of Our Time”

Eric Trump, one of the US President’s sons, says that now is “a great time to buy Bitcoin” after the largest crypto by market cap plummeted in recent weeks.

Speaking in an interview at a tech conference in Florida, Trump called Bitcoin “the greatest asset of our time.” 

BTC Has Delivered “Unbelievable Returns”

Trump noted in the interview that BTC stood near $16K three years ago and around $36,500 two years ago. 

He then went on to say that BTC has delivered “unbelievable returns.” 

“Name an asset class anywhere that has returned better than cryptocurrency, that has returned better than Bitcoin over the last decade,” Trump said, adding that there aren’t any. He then predicted that BTC’s growth “is going to be staggering,” citing strong demand for the crypto globally. 

“I go all over the world and everybody wants Bitcoin,” he said, noting that “the biggest public companies want it” and  the “wealthiest families on earth want it.” Trump also highlighted that dozens of countries, “from the UAE to El Salvador and everything in between” want to add Bitcoin to their balance sheets. 

He then echoed the narrative that “Bitcoin is digital gold.” 

Banking Blocks Pushed Trumps Into Crypto

Trump and his family have deepened their involvement in the crypto space in recent months, and have launched various ventures in the market. 

Among them is the decentralized finance (DeFi) platform World Liberty Financial, which launched its own USD-pegged stablecoin and saw its WLFI token listed on several major exchange platforms. Other ventures include meme coins, mining businesses, and even prediction markets.

Earlier this year, Trump had said that his family was pushed into crypto after being debanked. In the interview, he addressed his family’s past conflicts with major financial institutions, and said that Capital One, JPMorgan, and Bank of America closed nearly 400 accounts tied to his family’s hotels, restaurants, condos and golf clubs.

He said that the closes occurred “for doing nothing,” and attributed the actions to political association. 

With his family’s growing involvement in the crypto space, there have been ongoing calls from lawmakers, who say the Trump family’s involvement in the market and the President’s power to influence policy presents a conflict of interest. 

Bitcoin Takes A Breather From Its Downtrend

Trump’s comments follow Bitcoin’s all-time high (ATH) above $126K, which was set towards the start of October. 

Since reaching that peak, the crypto market leader has been in a sustained downtrend, which was amplified after the record Oct. 10 liquidation event that wiped out $19 billion from traders’ positions.

CoinMarketCap data shows that BTC dropped below both the psychological $100K mark and the $90K level in recent weeks. 

BTC price (Source: CoinMarketCap) 

In the last 24 hours, BTC managed a more than 2% gain, but remains over 9% and 22% on the weekly and monthly time frames, respectively. BTC also continues to trade below $90K, with its price standing at $86,242.16 as of 1:58 a.m. EST.