Speaking at the 2025 Consensus Auditorium, Eric Trump yelled: “Everyone in the world is trying to hoard Bitcoin. Everyone. I hear it from the sovereign wealth fund. I hear it from the wealthiest families. I hear the largest companies. I mean, its adoption is incredible.”
The son of U.S. President Donald Trump uses the stage to explain why his newly formed mining business, American Bitcoin, was swept into the public market through a reverse merger with Gryphon’s digital mining. Trump, who serves as the company’s chief strategy officer, calls Bitcoin “digital gold” and has a superior store of value compared to liquidity trophy properties that build family wealth.
Bitcoin is the “race to the peak”
I really believe in digital gold, it’s Bitcoin. “He told the audience. Trump stylisted the portability of Bitcoin with the liquidity difference in trophy real estate. He told the crowd that it took me a year and a half to trade the hotel because custody, custody, lender and managers all had to line up. It was global and instant. I could have a glass of wine with my wife on Saturday night while transferring value. That’s modern finance.”
Trump also explained the FOMO he is currently experiencing: “So every day, I tell you, those who are unwaveringly opposed it, those who don’t understand it, those who have a closed mind, those who are to traditional finance, those who are to traditional finance, those who are to traditional finance, those who are to traditional finance will all show up in a huge way. I think that in Bitcoin, the spikes of Bitcoin are really important, and they are important now, and now a game, and now a game, and now a game, and now a game. This task.”
The speed theme also dominated Trump’s merger. “The speed at which the reverse merger happens and how quickly we are going to go public is unparalleled for any public company,” he said, describing an all-weather internal chat with Hut 8 Ceo Asher Genoot and Gryphon executives, “Every day, every day, every day, Saturday, Saturday, Saturday, Saturday, Saturday, Saturday, Saturday, Saturday, Saturday, Saturday, Saturday, Saturday, Saturday, Saturday, Saturday, Saturday, Saturday, and Saturday, and he’s going to go back all day.” A few minutes later, he spun the principle of the brand: “For me, American Bitcoin is everything… it has to have the word American and it has to have the word Bitcoin.”
Market data suggest that investors are rewarding this sense of urgency. When Hut 8 and Gryphon announced their stock transactions on May 12, Gryphon’s stock price exceeded 200%, accounting for 200% of the pre-market trade, while Hut 8’s stock price rose 12%. The combined company will retain the name of US Bitcoin, which is retained under the Nasdaq list under Stock ABTC and is scheduled to close in the third quarter, with Hut 8 retaining majority control.
Trump’s assertions about sovereign wealth funds are now active bitcoin accumulators as large listed companies upgrade their own treasury strategies. New Bitcoin Treasury companies are announced every day. Additionally, sovereign wealth funds are loading Bitcoin. Just yesterday, Abu Dhabi sovereign wealth fund Mubadala disclosed 8,726,972 shares of BlackRock’s Blackrock Spot BTC ETF (IBIT) worth US$408.5 million in a 13F filing.
For Trump, the macro landscape is divided into two games: a cumulative contest, where players such as strategy buying coins and mining contests, and US Bitcoin intends to win by sourcing the world’s cheapest electricity through the U.S. infrastructure of HUT 8. “If I could mine its assets at a third of the price, then we can now do this with the lowest cost energy anywhere in the world and we would do something really good,” he said.
The political subtext will never be out of reach. Trump believes that the “political weaponization” of the family pushes him to crypto allies and believes that liquid, censorship-resistant assets are antidotes to obstacles faced by hard assets. However, he kept the tone of promotion, not partisan. “I don’t think I’ve ever been excited about a project.”
At press time, BTC traded at $103,889.
Featured Images created with dall.e, Charts for TradingView.com
Editing process For Bitcoin experts, focus on thorough research, accurate and impartial content. We adhere to strict procurement standards and each page is diligently evaluated by our top technical experts and experienced editorial team. This process ensures the integrity, relevance and value of our content to our readers.
