Eric Trump, son of former U.S. President Donald Trump, has hinted at a significant forthcoming announcement related to cryptocurrency. On Wednesday, Eric took to social media platform X to express his enthusiasm for cryptocurrency and decentralized finance (DeFi), encouraging his followers to “stay tuned for a big announcement.”
“I have truly fallen in love with Crypto / DeFi. Stay tuned for a big announcement,” Eric posted, tagging his father and brother Don Jr. in the message.
Don Trump Jr. Also Expresses Support for Crypto
His brother, Don Jr., echoed this sentiment, suggesting that “big things” are on the horizon and referring to crypto as “the future.”
“We’re about to shake up the crypto world with something HUGE. Decentralized finance is the future—don’t get left behind,” he wrote in a recent post.
However, neither provided further details or specified whether their plans involve Bitcoin, the cryptocurrency frequently mentioned by their father.
Donald Trump’s Vision for National Bitcoin Reserve
During the Bitcoin 2024 conference in Nashville, Tennessee, former President 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 speculated that Bitcoin could surpass gold’s $16 trillion market capitalization. In an interview with Fox Business, he proposed 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.
Evolving Stance on Cryptocurrencies
Trump’s proposal comes at a time when the US government faces significant challenges due to 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.
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.
Growing Political Relevance of Crypto
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.
Eric Trump’s tease of a major crypto announcement adds another layer to the Trump family’s growing engagement with the cryptocurrency and DeFi sectors, reflecting the increasing political and economic relevance of digital assets.
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