Eric Trump, Son of Former President, Hints at Major Crypto Announcement

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Ruholamin Haqshanas

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Ruholamin Haqshanas

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Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

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August 7, 2024

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Eric Trump, son of former U.S. President Donald Trump, has hinted at a significant announcement related to cryptocurrency.

On Wednesday, Eric took to social media platform X to share his newfound passion for cryptocurrency and decentralized finance (DeFi), urging followers to “stay tuned for a big announcement.”

“I have truly fallen in love with Crypto / DeFi. Stay tuned for a big announcement,” Eric wrote in a recent post on X while tagging his father and brother Don Jr.

I have truly fallen in love with Crypto / DeFi. Stay tuned for a big announcement…@Trump @realDonaldTrump @DonaldJTrumpJr

— Eric Trump (@EricTrump) August 6, 2024

Don Trump Also Shows Support for Crypto

His brother, Don Jr., also echoed this sentiment, suggesting that “big things” are on the horizon, referring to crypto as “the future.”

“We’re about to shake up the crypto worldwith something HUGE. Decentralized finance is the future—don’t get left behind,” he wrote in a more recent post.

However, they have not provided further details or specified if their plans involve Bitcoin, the cryptocurrency frequently mentioned by their father.

We’re about to shake up the crypto worldwith something HUGE.
Decentralized finance is the future—don’t get left behind. #Crypto #DeFi #BeDeFiant

— Donald Trump Jr. (@DonaldJTrumpJr) August 7, 2024

During the Bitcoin 2024 conference in Nashville, Tennessee, Donald Trump outlined his vision for a strategic national Bitcoin reserve.

He asserted that if re-elected, his administration would retain 100% of the Bitcoin currently held or acquired by the U.S. government, creating a core national Bitcoin stockpile.

Trump further speculated that Bitcoin could surpass gold’s $16 trillion market capitalization.

In an interview with Fox Business, Trump proposed the idea of using Bitcoin to pay off the national debt.

“Maybe we’ll pay off our $35 trillion dollars, hand them a little crypto check,” he mused, highlighting his belief in cryptocurrency’s potential to address economic challenges.

The former president’s proposal comes at a time when the US government is facing significant challenges due to its mounting debt.

The continuous devaluation of the dollar, driven by excessive currency printing to service outstanding debts, has contributed to Bitcoin’s rising value relative to fiat currency.

In June, about 76% of all income tax revenue was used to pay interest on the debt, making it one of the largest expenses in the US fiscal budget.

Trump’s Stance on Crypto Changes

Notably, Trump’s stance on cryptocurrencies has evolved over time.

Despite previously criticizing Bitcoin as a “scam,” he has recently changed his tune.

On June 14, he declared that he would end the Biden administration’s “war on crypto” if elected president.

Trump had also previously criticized Biden for his harsh stance on cryptocurrencies, emphasizing that the United States should strive to be a leader in the crypto industry.

As reported, a survey conducted by the Harris Poll has revealed that one in three voters in the US consider a candidate’s position on cryptocurrencies before making their voting decision.

Another survey conducted by leading crypto venture capital firm Paradigm reveals that Trump’s poll numbers for the 2024 US Presidential Election enjoy significant support from the crypto community.