Eric Trump: ‘The Whole World Is Hoarding Bitcoin’

Speaking at Consensus 2025, Eric Trump claimed that sovereign wealth funds, companies, and elite families globally are racing to accumulate Bitcoin. His firm is preparing for a Nasdaq listing via merger.

On May 15 in Toronto, Eric Trump appeared on stage at the Consensus 2025 crypto conference. He declared that everyone — from governments to the wealthiest families — is trying to stockpile Bitcoin.

“I’m flying. I’m traveling. Everyone is hoarding Bitcoin. Sovereign wealth funds, major corporations — all of them,” he said during a panel alongside Hut 8 CEO Asher Genoot.

Trump sees dual Bitcoin races — accumulation and mining

Trump identified two major trends in the Bitcoin space. The first is a global accumulation race, currently led by MicroStrategy’s Michael Saylor. The second is the mining arms race, in which his company actively participates.

On May 12, American Bitcoin announced a stock-for-stock merger with Gryphon Digital Mining. The combined company plans to go public on Nasdaq, boosting its influence in institutional crypto.

Democratic lawmakers push back against Trump crypto empire

As the Trump family expands its footprint in the crypto market, political backlash has intensified. From NFTs and mining to memecoins and stablecoins, the scope of their involvement keeps growing.

Democrats have raised concerns about conflicts of interest and have called for stricter oversight. Some lawmakers even walked out of a crypto hearing and withdrew support for a bipartisan stablecoin bill. A second vote on the bill may take place as early as May 26.