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Eric Trump, a son of US President Donald Trump and co-founder of American Bitcoin, is not dismayed by the recent decline in cryptocurrency markets, saying that volatility is the cost of achieving excessive returns.
“I think volatility is your friend,” Trump said The Wall Street Journal in an interview, as Bitcoin (BTC) briefly fell below $95,000 and was about 25% lower than its early October peak.
Turbulence was worst in the altcoin segment, with major assets from 5% to 11% – part of a weakness that began with the October 10 market crashwhich wiped out about $19 billion in leveraged positions.
Overall, the crypto market has lost more than $1 trillion in combined market capitalization since its peak.
However, for Trump, this is only part of the investment landscape for crypto.
“Anyone who can’t embrace volatility in cryptocurrency should probably get out of it,” he said. “It’s actually a great opportunity for us to buy.”
Related: Gryphon approves merger with American Bitcoin, Nasdaq ticker ABTC
The American Bitcoin is stacking sats
Trump is at least putting his philosophy into practice. American Bitcoin, the mining company he heads, which went public earlier this year through a reverse merger with Gryphon Digital Mining, add more than 3,000 BTC in the third quarter, bringing his total holdings to over 4,000 BTC.
Trump has repeatedly emphasized increasing the company’s Bitcoin reserves, prioritizing metrics like its Bitcoin-per-share ratio, which he argues will ultimately enhance shareholder value.
The moves come amid the Donald Trump administration’s push for broader crypto adoption, highlighted by January’s executive order on digital assets, the creation of a federal task force on crypto markets and passage of key stablecoin legislation. However, the value of Bitcoin has not changed much since its January 1 price.
Related: Trump-linked US Bitcoin looks to buy Asia to boost BTC stock: Report
