Eric Trump Warns World Is Stockpiling Bitcoin in Massive Rush
At the Consensus 2025 conference held in Toronto on May 15th, Eric Trump depicted a globe filled with fervor for Bitcoin. He expressed that regardless of where he travels – whether it’s on airplanes, in executive meetings, or even from large institutional investors – the same sentiment is consistently conveyed to him.
His remarks were made during his participation in a discussion with Hut 8 CEO, Asher Genoot, focusing on the future direction of Bitcoin.
Global Bitcoin Hunt
As stated by Eric Trump, there’s a global trend at present where people are eagerly accumulating Bitcoin. This includes prominent financial entities like sovereign wealth funds and affluent families, as well as large corporations, who seem to be participating in this surge.
His argument: Bitcoin is no longer just a specialty investment. It’s now a serious game where significant entities are vying for every single coin.
Major Mining Merger
According to reports, the Bitcoin unit jointly established by Eric Trump and his brother, known as American Bitcoin, which is owned by Hut 8, announced a merger deal on May 12th with Gryphon Digital Mining.
In a single-shareholding exchange, shareholders from both companies will find themselves holding shares of the same merged entity come next year.
According to the partners, the merged entity plans to debut on the Nasdaq stock exchange by Q3 2025, providing a regulated avenue for investors to capitalize on mining revenues from cryptocurrencies like Bitcoin indirectly.
Shares Jump After Deal
swiftly responding investors, Gryphon’s shares skyrocketed more than 200% following the announcement of the merger, and Hut 8 likewise experienced growth. This rapid surge in value underscores Wall Street’s intense appetite for anything linked to the upcoming Bitcoin halving cycle.
Mining operations typically prepare for increased scarcity due to halving events. By joining forces, these companies aim to pool resources, amplify computational power, and enhance their visibility ahead of the 2024 reward reduction that is expected to drive prices higher as a result.
Political Pushback Grows
It appears not all individuals support the current situation. Recently, a contingent of House Democrats exited a meeting on digital assets, dissatisfied as they felt questions regarding ethical matters were overlooked. On May 13th, a group of Senate Democrats penned a letter to President Donald Trump, advising him to divest from any cryptocurrency holdings, including those linked to tangible assets or stablecoins.
As an analyst, I express concern over potential conflicts of interest when White House decisions may impact the family’s substantial crypto holdings, accounting for nearly 40% of their net worth, approximately $3 billion. The organization State Democracy Defenders Action has highlighted this issue.
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2025-05-17 00:08