Eric Trump Says Bitcoin Floodgates Are Just Starting to Open

Eric Trump has said the Bitcoin “floodgates are just starting to open” as American Bitcoin launches with a strategy on large-scale mining and long-term accumulation. This came during his appearance on Bloomberg on Wednesday alongside Hut 8 CEO Asher Genoot to mark the public debut of American Bitcoin. The new company combines large-scale mining operations with a treasury strategy focused on accumulating Bitcoin at a discount. Eric noted that their mining infrastructure allows them to produce BTC at roughly half the market cost. It positions the company with what he described as an “unbelievable advantage.” The public launch comes just months after American Bitcoin launched, with the company already stockpiling more than 2,000 BTC. Their goal is to build the premier Bitcoin company in the world. Mining Bitcoin at Scale and Long-Term Accumulation According to Asher Genoot, Hut 8 is not only a major shareholder in American Bitcoin but also the provider of its mining infrastructure. The partnership enables American Bitcoin to mine at competitive costs, including power sourced directly from a Texas wind farm. Genoot highlighted that their strategy differs from traditional “growth at all costs” mining businesses. Instead, American Bitcoin will only expand mining when profitable and raise capital for Bitcoin purchases when it is beneficial.  BTC as the “Hot Asset of Our Time” Looking at the broader market, Eric described Bitcoin as “the hot asset of our time,” noting rising demand from Fortune 500 firms, sovereign wealth funds, and even U.S. states like Texas and Wyoming. He added that adoption is only just beginning, saying, “The floodgates are just starting to open.”  https://twitter.com/BTC_Archive/status/1963598499167031365 He believes Bitcoin is establishing itself as a global store of value, outperforming traditional assets and attracting institutional and retail investors. Notably, Eric is one of the industry leaders who sees Bitcoin's price reaching $1 million in the coming years. From Being “Debanked” to Becoming a Crypto Spokesperson Meanwhile, Trump also shared a personal motivation for entering crypto. He said he turned to digital assets after suffering "debanking" from traditional financial institutions. He described their actions as both unconstitutional and un-American. Interestingly, what began as a reaction to his loss of access to banking became a broader vision. Today, Trump positions himself not just as a Bitcoin investor but as an advocate for digital assets.  He expressed confidence that American Bitcoin, combined with his long-term commitment to the industry, will help drive adoption globally. Eric also pointed to the rapid rise of World Liberty Financial's USD1 stablecoin, which surged 25x after launch. He framed it as proof of crypto’s potential to replace outdated banking systems.  He said being debanked pushed him to embrace digital assets, and now he sees Bitcoin and stablecoins as tools that can drive global financial freedom.