Toronto – Al Trump, the son of US President Donald Trump, said he believes Bitcoin is digital gold and called the largest digital currency a store of value, under a packed panel in Consensus 2025 in Toronto.
“I really believe in digital gold, which is Bitcoin, right? I believe in the store with value,” Trump said.
However, Eric Trump -who has a background in real estate -told the audience at Coindesk’s Consensus 2025 conference in Toronto that he did not enter Bitcoin or Crypto until politics intertwined the Trump family and the Crypto community.
“It was only in the same group that attacked my family without any reason than political conviction began to attack [the] Crypto society that it really ran two people who may not have always been like-minded together and that the partnership has been absolutely amazing, ”he said on Thursday.
Apart from politics, he also realized that real estate is not as fluid as Bitcoin, which has better liquidity and was easier to act, which solidifies his belief in the digital currency. “I also realized, kind of, through some of the political weapons you know, some of the restrictions in real estate. Real estate has created a huge wealth for our family. At the same time, real estate cannot be transferred. It is very difficult to sell,” he said.
“I sold a hotel two years ago. It took me a year and a half to literally trade this hotel because you have title reports and you have managers who have to go in and you have the best proliferations. You do all sorts of things,” Trump said. “… you constantly need to control it. You constantly need to see operations, right? And then suddenly you have this kind of digital asset that you don’t have to see you don’t have to manage. You know it’s easy to trade with.”
Trump is co-founder and Chief Strategy Officer for American Bitcoin, a Bitcoin mining company founded in partnership with HUT 8 and planned to become public via a merger with Gryphon Digital Mining (Gryp).
The Gryphon Partnership came from a desire to take American Bitcoin Partnership Public as soon as possible, Hut 8 CEO Asher Genoot said on stage with Trump to a standing room only the audience. An existing mining was an important part of this plan as well as getting ‘American’ and ‘Bitcoin’ as part of the company name.
“American Bitcoin, for me, is everything, you know. And I came with the name, I said one thing. I said, listen, it must have the word american, and it must have the word Bitcoin in it,” Trump said.
