Eric Trump, a son of US President Donald Trump and co-founder of American Bitcoin, is undeterred by the recent downturn in the cryptocurrency markets, saying that volatility is the cost of achieving outsized returns.
“I think volatility is your friend,” Trump told The Wall Street Journal in an interview, as Bitcoin (BTC) briefly fell below $95,000 and stood about 25% lower than its early-October peak.
The turbulence has been worse in the altcoin segment, with major assets down from 5% to 11% — part of a weakness that began with the Oct. 10 market crash, which wiped out some $19 billion in leveraged positions.
Overall, the crypto market has shed more than $1 trillion in combined market capitalization from its peak.
Source: CointelegraphHowever, for Trump, this is simply part of the investing landscape for crypto.
“Anybody who can’t embrace volatility in cryptocurrency should probably get out of it,” he said. “It’s actually a great opportunity for us to buy.”
Related: Gryphon approves merger with American Bitcoin, Nasdaq ticker ABTC
American Bitcoin is stacking sats
Trump is at least putting his philosophy into practice. American Bitcoin, the mining company he leads, which went public earlier this year through a reverse merger with Gryphon Digital Mining, added more than 3,000 BTC in the third quarter, bringing its total holdings to over 4,000 BTC.
American Bitcoin has entered the top 25 list of publicly listed Bitcoin holders following its Q3 acquisitions. Source: BitcoinTreasuries.NETTrump has repeatedly emphasized increasing the company’s Bitcoin reserves, prioritizing metrics such as its Bitcoin-per-share ratio, which he argues will ultimately strengthen shareholder value.
The moves come amid the Donald Trump administration’s push for broader crypto adoption, highlighted by the January executive order on digital assets, the creation of a federal working group on crypto markets and the passage of key stablecoin legislation. Yet, the value of Bitcoin is little changed from its Jan. 1 price.
Related: Trump-linked American Bitcoin seeks Asia acquisitions to boost BTC holdings: Report
Source: https://cointelegraph.com/news/eric-trump-bitcoin-volatility-american-bitcoin-btc-holdings?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
