MIAMI – Eric Trump, son of President Donald Trump and co-founder of American Bitcoin (ABTC), said that bitcoin has reached a heavy influx of traditional financial giants name-checking Bank of America Corp.’s Merrill division, Charles Schwab Corp. and JPMorgan Chase & Co.
“JPMorgan, who dumped bitcoin 18 months ago and said it was a joke asset,” Trump said Wednesday at Consensus Miami 2026. “It’s really interesting — now they’re allowing people to take out mortgages against their bitcoin holdings at JPMorgan, this happened over a period of 18 months, my friends.”
JPMorgan CEO Jamie Dimon had been a longtime critic of cryptocurrencies, though his bank has since been among those embracing blockchain technology and associated advances, including the tokenization of assets.
Trump, whose father has led aggressive pro-crypto policies from the White House, said the crypto industry has “broken the banks” that had once rejected the Trump family and rejected their business.
“The financial institutions all realize that they have lost and they can no longer retreat,” he said. “And then instead of actually fighting the current, you know what they do, they swim with it for the first time.”
American Bitcoin, a mining company ranked as the 16th largest public holder of bitcoin, is mining bitcoin at 50 cents on the dollar, said Trump, the company’s chief strategy officer. He said the company is trying to establish the cheapest bitcoin acquisition in the sector. And he said bitcoin is “seeing a new momentum” in the asset.
“It’s really become one of the great value stores ever,” he said, repeating his frequent claim that the asset will eventually top a million dollars.
