Donald Trump’s Son Criticizes the Modern Financial System. Why Cryptocurrencies Will Replace It?

One of Donald Trump’s most famous election ideas was the possible creation of a national Bitcoin reserve in the United States. It involves recognizing the first cryptocurrency as a strategically important asset and accumulating a million BTC.

Under the proposed bill, these coins would be kept in government accounts without movement for twenty years, with the exception of perhaps selling the crypto to pay off part of the country’s national debt.

What will happen to cryptocurrency in the future?

Eric Trump weighed in on the developments in an interview with CNBC ahead of his appearance at a crypto conference in Abu Dhabi, saying blockchain technology could perform all the functions of modern banking systems with greater efficiency.

Here’s a retort on the matter from Cointelegraph .

If you live in America and want to take out a loan to buy a house, it will take you 90 days. How the hell does it take 90 days? By the time the process is over, the house will have already been sold, and you can miss out on your dream. There is nothing in the blockchain that cannot be done better, faster, much cheaper, and without paperwork.

Trump said his father “understands that every country in the world” is aware of the cryptocurrency industry in one form or another. And if the U.S. doesn’t start leading the way in regulating crypto startups, the country risks being left behind in this race.

Let us recall that it was at the instigation of Donald Trump that dozens of candidates supporting the cryptocurrency industry took seats in Congress.

Some industry leaders have already called the new Congress the most industry-friendly in history. In this case, this should lead to more favorable conditions for the niche.

Eric Trump confirmed that he expects transparent and reasonable regulation of the industry to emerge soon. This will benefit the US economy and at the same time attract new talents who will launch new projects and thus contribute to the development of the niche. He continues.

We will have a clear roadmap. Hopefully, the rest of the world will follow. We will be able to lead by example, because that is what we should do as Americans. Hopefully, we will truly become the crypto superpower of the world.

During his speech at the conference, Trump said that he has no doubt that Bitcoin will grow to a million dollars. Here is the corresponding video from our channel.

Eric also said that Tesla and SpaceX CEO Elon Musk will play a major role in the new presidential administration. The billionaire will be in charge of managing a special department that oversees the effectiveness of government spending.

In the original, the abbreviation of the newly created agency sounds like DOGE, which is a clear reference to the ticker of the popular “dog” meme token. Elon Musk actively supported the popularization of Dogecoin during the previous bull run in 2021, and now he also periodically comments on this topic.

In turn, the active actions of the US government will lead to a new round of bullish rally. However, traders will still have the opportunity to “buy crypto at a cheaper price” – this opinion was voiced by the co-founder of Syncracy Capital Daniel Chong. Here is his response.

Intra-month volatility will be present, but market pullbacks will likely take much longer, giving many people the opportunity to buy assets at a lower price.

Chong added that during this cycle, traders have shifted to “short-term” trading, “constantly looking to lock in profits.” Over the past 24 hours, the total crypto market capitalization has fallen by about 5 percent to $3.62 trillion.

At the same time, Chong said that “choosing the time to make successful market forecasts is extremely difficult now.” He continues.

In previous cycles, participants have largely adopted a long-term holding and buying-on-pull mentality. The reality is that timing the market is extremely difficult. And with so many people thinking they can call the top of the trend right now, it makes me think the market is in for a much longer bull run than expected this time around.


Experienced crypto investors repeat that usually the peak of the coin market growth occurs in periods when most people don't expect it. However, in such cases, the cryptocurrency rises in price too sharply due to the influx of new investors. And then it seems that the growth will continue almost forever.


Bitfinex analysts said Bitcoin is unlikely to see any near-term price corrections as deep as last week’s 10 percent drop. Selling pressure has eased significantly since the cryptocurrency’s first jump above six figures.

Meanwhile, exchange-traded funds continue to see net capital inflows. For example, spot Bitcoin ETFs saw $483.6 million in net inflows on Monday, while Ethereum-based instruments attracted $149.7 million.


Support for the cryptocurrency industry has become a major part of Donald Trump's election campaign. In this regard, his son's support for the niche seems a logical continuation of what is happening - as well as the further approval of an adequate framework for regulation of digital assets.


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