Eric Trump, co-founder and chief strategy officer at American Bitcoin Corp. (NASDAQ:ABTC) has lauded blockchain adoption as the future of traditional finance.
What Happened: Speaking on CNBC on Tuesday, Trump described Bitcoin (CRYPTO: BTC) as "modern-day gold," highlighting its security, liquidity, and role as a global hedge that has delivered strong long-term returns.
He pointed to growing institutional adoption, from Fortune 500 corporations to sovereign wealth funds, and framed Bitcoin as a generational asset.
The launch of American Bitcoin, a hybrid mining and treasury firm spun out of Hut Eight's restructuring, follows the Trump family's experiences with debanking by major U.S. banks, which Eric says revealed the vulnerabilities of traditional finance and accelerated their push into crypto.
Addressing questions about conflicts of interest during his father's presidency, Trump stressed that the family's ventures reflect business necessity rather than political profiteering.
He argued that the Trump Organization has faced costs, not windfalls, from politics.
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Why It Matters: Looking ahead, the president’s son forecasts a transformational shift in financial markets, with blockchain making systems faster, cheaper, and more efficient.
He warned that traditional institutions slow to adapt will face a "slow and painful death."
Eric Trump and Donald Trump Jr. together hold nearly 20% of ABTC shares, according to Reuters.
Recently, Eric called crypto the greatest hedge to real estate and one of the best assets of our time.
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