In a recent interview, Eric Trump, co-founder of American Bitcoin Corp., asserted that Bitcoin is the strongest asset of this era. He highlighted Bitcoin’s performance compared to traditional assets, citing its 24-hour trading accessibility and cost-effectiveness in mining as key advantages. American Bitcoin Corp.’s operations in West Texas benefit from low energy costs, with mining expenses estimated at just $0.50 per dollar of Bitcoin mined. This efficiency stems from the U.S.’s advantage in affordable energy sources.
Trump emphasized these factors, saying:”Right now, every day we’re mining bitcoin…at roughly about $56,000 per bitcoin. We’re able to mine because we have the best facilities anywhere on earth. We’ve got some of the cheapest energy…”.
The endorsement aligns with existing trends supporting Bitcoin as a hedge against inflation and volatility, attracting investor interest amidst global economic uncertainty.
Market reactions to Trump’s statements demonstrate a positive shift in perception towards Bitcoin, further bolstering its mainstream appeal. While no major regulatory responses have emerged, the comments reaffirm Bitcoin’s status as a leading asset class.