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Eric Trump says the future of finance is crypto
Yahoo Finance· 2025-11-13 21:11
Core Viewpoint - Bitcoin and other cryptocurrencies are viewed as the future of money and investments, serving as a hedge against inflation and poorly managed monetary systems [1] Company Insights - American Bitcoin (ABTC), co-founded by Eric Trump and Donald Trump Jr., went public in September with a market value of approximately $4 billion [2] - The firm is currently the 25th-largest bitcoin accumulator among public companies in the U.S., achieving this status within eight months of its launch [3] - The company's competitive advantage is attributed to low energy costs, with bitcoin mining in West Texas costing about 50 cents on the dollar compared to the spot price [3] Industry Implications - Eric Trump believes that cryptocurrencies could onboard trillions of dollars into the U.S. economy and transform the financial system by addressing issues related to transferability and speed [5] - The Trump family's involvement in cryptocurrency extends to controlling a decentralized finance platform and issuing governance tokens, raising concerns about the blending of politics and profit [5][6]