Eric Trump Promises a World Scrambling for Bitcoin

Speaking at the Consensus 2025 conference in Toronto on May 15, Eric Trump painted a picture of a world scrambling for Bitcoin.

According to a report by CCn, Eric Trump, the son of former President Donald Trump and co-founder of American Bitcoin, spoke at the Consensus 2025 conference in Toronto on May 15.

During a panel discussion with Asher Genoot, CEO of Hut 8 (NASDAQ: HUT), on where Bitcoin is headed next, Trump painted a picture of a world scrambling for the cryptocurrency. He said that he hears the same thing everywhere he goes, on planes, in boardrooms, and even from big state funds: everyone is trying to get their hands on Bitcoin.

"Everybody in the world is trying to hoard Bitcoin right now," Trump claimed.

He added that sovereign wealth funds and the wealthiest families are all in on the rush, and he’s even hearing buzz from some of the world’s largest companies.

This isn't a small-time, altcoin-focused crowd either. It's heavy-duty territory where major players are clashing over every last coin.

Major Mining Merger

As previously reported, American Bitcoin—a unit co-founded by Eric Trump and his brother and owned by Hut 8—struck a deal on May 12 to merge with Gryphon Digital Mining (NASDAQ: GDM).

The structure is an all-stock exchange, meaning that shareholders of both firms will wake up next year with shares in the same new company.

The partners say that this combined group will list on Nasdaq in Q3 2025, opening the doors for regulated markets to tap into mining profits without holding Bitcoin directly.

Shares Jump After Deal

Investors reacted swiftly. Gryphon's stock soared over 200% after the merger news broke, and Hut 8 also saw gains. That kind of move shows how hungry Wall Street is for anything linked to the next Bitcoin halving cycle.

Mining companies usually prepare for the scarcity that halvings bring. By merging, these two aim to share resources, boost their hash power, and raise their profiles before the reward cut in 2024 drives prices up.

However, there's also political pushback brewing. A group of House Democrats walked out of a digital assets hearing earlier this month, annoyed that questions about Trump's cryptocurrency holdings slipped by.

Moreover, on May 13, Senate Democrats sent a letter to President Trump urging him to unload all cryptocurrency stakes, including stablecoins tied to hard assets.

They're worried about conflicts of interest if the White House can adjust rules that affect family ventures. According to one watchdog group, State Democracy Defenders Action, crypto holdings make up about 40% of the Trump family's fortune, which is nearly $3 billion.