Eric Trump has doubled down on his pro-crypto stance, promoting Bitcoin (CRYPTO: BTC) as a fix for inefficiencies in traditional finance and calling it "digital gold" and "one of the greatest stores of value ever."
What Happened: Speaking on Fox Business on Thurdday, Eric Trump blasted the traditional banking system for being "outdated and slow," citing how wire transfers stop after 5 p.m. on Fridays and mortgage approvals take months.
He contrasted this with Bitcoin's ability to enable instant, low-cost global transfers, saying: "When you can transfer $500 million in Bitcoin from an iPhone to an iPhone at 11 o'clock on a Sunday night for practically no fees, that scares big financial institutions."
Trump argued that cryptocurrency will replace legacy systems, unlocking speed, transparency, and global accessibility.
Also Read: Bitcoin Down To $100,000 Is The Four-Year Cycle Breaking?
Why It Matters: According to Santiment, trader sentiment across major cryptocurrencies is cooling — a typically bullish sign for contrarians:
- Bitcoin: Neutral, evenly split between bulls and bears.
- Ethereum: Slightly bullish, but enthusiasm fading.
- XRP: Heavily bearish, marking one of 2025's most fearful phases.
Historically, such fear precedes accumulation phases when smart money re-enters the market.
In a September interview, Eric Trump also claimed the crypto industry is advancing faster than the early internet, predicting Bitcoin could hit $1 million, and calling Q4 "unbelievable for a host of reasons."
Despite optimism, Bitcoin has recently slipped below $100,000, as markets digest the end of the U.S. government shutdown.
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