Eric Trump predicted that every major bank will adopt Bitcoin and cryptocurrency within a year, citing the banking system as "absolutely antiquated" — too slow, too costly, and fundamentally broken. The remark came as Bitcoin traded back above $70,000, despite lingering fears of a deeper correction.
Debanked Before Entering Crypto
Trump linked his personal crypto journey to being "debanked and deplatformed." He claimed Capital One sent him letters about 300 accounts being closed overnight, adding that without those closures, he would not have entered the crypto space. He described the banking system as "outdated" and argued that crypto offers a better future direction.
He also stated he believes every bank and consumer will soon join the industry. Trump said he felt honored to be part of crypto's growth and glad that his father "is leading the way," warning that otherwise another country would capture the opportunity.
American Bitcoin Reserves Hit 6,049 BTC
Arkham Intelligence data shows that American Bitcoin now holds 6,049 BTC, valued at approximately $425.82 million. The entity added 196 BTC over the past 18 days. This places it among the top 20 largest public Bitcoin holders globally, alongside Nakamoto Inc., Anthony Pompliano's ProCap, and GameStop.
The portfolio was built through both mining operations and direct market purchases. American Bitcoin's mining arm, Hut 8 Corp., plays a key role. CEO Asher Genoot revealed that Hut 8 mines roughly 8 to 10 BTC daily. He emphasized Bitcoin's fixed supply of 21 million coins — a cap central to its long-term value proposition. “Only 21 million Bitcoin will ever exist,” Genoot noted.
Market Context: BTC Above $70K
The accumulation spree coincided with Bitcoin's price recovery above $70,000. While the bullish outlook from an influential figure like Eric Trump generated buzz, traders remain cautious amid macroeconomic headwinds. No single narrative has dominated the market yet — the interplay between adoption optimism and short-term volatility continues.