Bitcoin Panic Buying? Eric Trump Says The World Is Stockpiling BTC
Eric Trump stated at the Consensus 2025 conference that there is a global rush for Bitcoin, with sovereign wealth funds and wealthy families actively seeking to acquire it. He emphasized that Bitcoin has transitioned from a niche investment to a major asset class attracting significant interest from large corporations. American Bitcoin, co-founded by Eric Trump, announced a merger with Gryphon Digital Mining on May 12, structured as an all-stock exchange, with plans to list on Nasdaq in Q3 2025. This merger aims to enhance resources and hash power ahead of the upcoming Bitcoin halving in 2024, which typically drives price increases. Following the merger announcement, Gryphon's stock surged over 200%, reflecting Wall Street's enthusiasm for Bitcoin-related investments. However, some House Democrats expressed concerns about potential conflicts of interest regarding the Trump family's cryptocurrency holdings, which reportedly constitute about 40% of their wealth, estimated at nearly $3 billion.
