Eric Trump Declares Bitcoin as a Top Store of Value

• Eric Trump sees Bitcoin as a top store of value with liquidity advantages.
• Eric emphasizes decentralized finance as a response to political bank actions.
• American Bitcoin aims to become a leading Bitcoin miner with a strategic reserve.

Eric Trump, the son of U.S. President Donald Trump, has voiced his belief that Bitcoin is “one of the greatest stores of value.” In an interview, Eric shared that Bitcoin’s liquidity and ability to hedge against real estate are the currency’s most unique properties.

According to him, Bitcoin can be easily ‘liquidated,’ which makes it attractive in times of economic uncertainty. Eric’s comments come amid ongoing debates surrounding the role of cryptocurrencies in the global financial system.

As he highlighted, Bitcoin can provide wealth protection during times of instability. Besides, Bitcoin’s liquidity allows for swift conversion and makes it an alternative investment method to traditional assets that might be more difficult to access when the economies worsen.

Exploring DeFi: Eric Trump’s Shift from Traditional Finance

When asked why a Bitcoin reserve was necessary, Eric Trump explained that his family’s experience with the traditional financial system was key to their cryptocurrency exploration. He also explained that several other financial institutions had banned his family’s accounts for political reasons.

However, this experience made him explore the possibilities of decentralized finance (DeFi) and stablecoins, especially the chance to be independent in blockchain-based systems. He believes that Bitcoin and other cryptocurrencies are a way to avoid the appearance of the traditional banking system, which often consumes a lot of time and is costly due to multiple steps and high fees.

“You can’t be canceled” in crypto, Trump added, attributing it to blockchain technology’s safety and transparency. His comments chime with a wider movement towards DeFi, where people are increasingly backing the idea of being their bank in a centralized world.

American Bitcoin: A Strategic Move into Mining

Besides these comments on Bitcoin as a store of value, Eric Trump got directly into the cryptocurrency industry through a new venture. As AltcoinBeacon reports, he has partnered with Hut 8 Corp to launch American Bitcoin, a company dedicated to industrial-scale Bitcoin mining and constructing a strategic reserve.

The new venture is majority-owned by Hut 8, a major player in the Bitcoin mining industry. Although American Bitcoin will be standalone, it will benefit from the infrastructure and expertise in operating the data centers owned by Hut 8.

Eric believes the company will become one of the industry’s largest, most efficient Bitcoin miners, with plans to hit over 50 exahashes per second in fleet efficiency. In addition, American Bitcoin is set to create a strategic Bitcoin Reserve and act as an alternative to major mining companies like Marathon Digital and Riot Platforms.