According to Eric Trump, son of former U.S. President Donald Trump, there’s a global push to accumulate Bitcoin. Speaking at a major cryptocurrency event in Toronto on May 15, Trump claimed that interest in the digital asset spans from ordinary families to national investment funds.
“Whether it’s high-net-worth families or sovereign wealth funds, the message is the same — everyone is rushing to secure Bitcoin,” he said during a panel discussion at Consensus 2025. He was joined on stage by Asher Genoot, CEO of the Bitcoin mining firm Hut 8.
Trump, who has been actively involved in the crypto space, noted the rapid expansion of Bitcoin adoption. “No matter where I go — even mid-flight conversations — it’s clear: Bitcoin is becoming the asset everyone wants to own.”
He outlined two major fronts in the Bitcoin ecosystem: the accumulation race, where he highlighted Michael Saylor as a key figure, and the mining race, where he himself is now deeply involved.
Eric Trump co-founded American Bitcoin, a mining firm that operates under Hut 8. On May 12, American Bitcoin revealed its plans to merge with Gryphon Digital Mining in an all-stock deal that will result in the combined company being listed on the Nasdaq.
Political Tensions Rise Over Trump Crypto Activities
The Trump family’s growing involvement in digital assets — including NFTs, memecoins, mining, and a stablecoin — has sparked criticism from political opponents. Some lawmakers argue these ventures could lead to ethical issues or conflicts of interest.
Democrats have previously called for probes into Trump’s cryptocurrency dealings and have introduced bills to limit the financial benefits his family could gain from digital tokens. Their concerns even led to a walkout during a joint session on crypto regulation, citing the lack of transparency around the Trump family’s crypto efforts.
As a result, Senate Democrats have temporarily pulled support for a bipartisan stablecoin bill. However, a second round of voting on the legislation may take place as early as May 26.
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