As Consensus 2025 gets underway, American Bitcoin co-founder Eric Trump has unveiled plans to increase the company's BTC holdings. Rather than purchase BTC
Eric Trump, co-founder of Eric Trump’s American Bitcoin, has revealed plans to increase the company’s Bitcoin holdings and eventually surpass those of Michael Saylor’s MicroStrategy at Consensus 2025.
Speaking on a panel at the crypto event, Trump said that American Bitcoin would be focused on an efficient, low-cost Bitcoin mining strategy to quickly close the gap between the two firms. The company is aiming to keep its Bitcoin mining costs as low as $37,000-$38,000, in contrast to institutions buying BTC at above $100,000.
“I think we’re going to accumulate a tremendous amount of Bitcoin, but I also want to be the one mining it by far the cheapest,” said Trump.
The company, which was founded earlier this year in partnership with Hut 8 CEO Asher Genoot, is entering a competitive landscape with several institutions, including MicroStrategy, deploying massive capital to accumulate Bitcoin.
“I’ll put it to you this way—we’re going to beat them in this marathon. They’re going to be tired, and we’re going to be fresh.”
While other institutions, such as sovereign wealth funds, are quickly joining the race to accumulate Bitcoin, Trump said that American Bitcoin could handle the competition.
“There’s a lot of heating up in the race to the top right now, and there are a lot of people running fast. I promise you we are going to beat them in this marathon.”
Earlier this year, rumors swirled that Eric Trump was planning to launch a cryptocurrency venture after his father, former President Donald Trump, expressed interest in the SWIFT payment system.
The Trump family cryptocurrency ventures have also come under House scrutiny for fraud and conflict of interest concerns as a House committee launched an investigation into Eric Trump’s cryptocurrency venture, which reportedly sold unregistered securities to investors.
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