Bitcoin Buying Frenzy: Eric Trump Claims Global Elite Are Stacking Sats

The rich aren’t hedging—they’re FOMOing. Eric Trump drops the bombshell that the world’s financial elite are dumping fiat for Bitcoin at a breakneck pace.

Move over, Swiss banks—cold wallets are the new vaults. From hedge fund titans to oil oligarchs, the 0.1% are treating BTC like a digital lifeboat (while the rest of us get to watch from the economy-class Titanic).

Funny how ’global elites’ suddenly love decentralization when their own currencies start smelling like Weimar-era Germany.

In Brief

• Eric Trump claims that “everyone is currently trying to accumulate Bitcoin,” from sovereign wealth funds to ultra-wealthy families.
• The son of President Trump is a co-founder of American Bitcoin, which recently merged with Gryphon Digital Mining.
• The Trump family’s involvement in the crypto sector has drawn sharp criticism from Democrats.

A Global Race to Accumulate Bitcoin

It was on May 15th, at the prestigious Consensus 2025 event in Toronto, that Eric Trump made this notable statement. Sharing the stage with Asher Genoot, CEO of the bitcoin mining company Hut 8, the son of the American president highlighted the widespread enthusiasm for the leading crypto.

I am traveling. I am on a plane. Everyone is trying to accumulate bitcoins right now. Everyone. I hear it from sovereign funds. I hear it from the richest families. I hear it from the biggest companies.

Eric TRUMP identified what he considers to be “two races in bitcoin”: the accumulation race – currently led according to him by Michael Saylor, founder of MicroStrategy – and the mining race, a sector in which he has personally been involved.

This vision reflects an accelerated institutional adoption, a phenomenon that has intensified since Donald Trump’s election, perceived as favorable to the crypto industry.

The Trump Crypto Empire Sparks Controversy

The third child of the American president is not just a market observer. Co-founder of American Bitcoin, a subsidiary of Hut 8, he announced on May 12 the merger of his company with Gryphon Digital Mining, an operation that will lead to a Nasdaq listing.

This rapid expansion of the Trump family’s crypto activities is not limited to mining but also extends to NFTs, meme cryptocurrencies, and even a stablecoin project.

This growing involvement raises serious concerns within the Democratic camp. Repeated calls for investigations have been made, and legislation aimed at limiting the potential financial gains of the presidential family has even been proposed.

Senate Democrats have also withdrawn their support for a bipartisan stablecoin bill, citing concerns about potential conflicts of interest.

As major financial institutions massively return to bitcoin, Eric Trump’s statements seem to confirm a fundamental trend: the recognition of bitcoin as a strategic store of value. This new era dominated by corporations could well redraw the global monetary balances in the years to come.

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