Eric Trump Says ‘The Tides Have Turned’ For Bitcoin As AI And Institutions Fuel Crypto Adoption

• Eric Trump said on Friday, "the tides have turned," with institutions now driving Bitcoin's price, not retail.
• The ABTC co-founder said he had built his own BTC position, buying in the high-$50Ks to low-$60Ks.
• He tied crypto and AI together, saying that the U.S. was "winning the AI race" for the future.

Bitcoin (BTC) markets are undergoing a sea change right now, with institutional investors replacing retail traders as the dominant force behind the price of the cryptocurrency, Eric Trump said. The acceleration of this change can be attributed to the rise in AI adoption and a more crypto-friendly policy environment, according to the American Bitcoin Corp. (ABTC) co-founder, noting that governments worldwide are racing to position themselves as leaders in the technologies that will shape the future.

The President’s son said in an interview on Friday with Gav Blaxberg, the CEO of financial media company WOLF Financial, that he had built his own Bitcoin position by buying in the high-$50,000s to low-$60,000s and remained firmly bullish on the asset. The investor base behind Bitcoin’s price had changed fundamentally, he said, and retail buyers used to drive the market, but now institutions were the dominant force.

"The tides have turned so quickly," Trump noted, saying that many of the same institutional investors who dismissed crypto roughly 18 months ago have since reversed course and embraced it.

Eric Trump is the co-founder of American Bitcoin Corp. (ABTC), a Bitcoin mining company. It is primarily owned by Hut 8 (HUT). American Bitcoin currently holds 8,300 BTC, according to BitcoinTreasuries data.

ABTC stock closed down by over 12% on Friday. On Stocktwits, the retail sentiment around ABTC remained in the ‘bullish’ zone, while chatter stayed at ‘high’ levels over the past day.

On The CLARITY Act

We need to be “number one” in the technologies that are shaping the future, Trump said, adding that the country could not fall behind in crypto or AI.

He credited President Donald Trump’s administration with accelerating crypto adoption globally,  with other countries now developing their own regulatory regimes partly in response to the U.S. welcoming the industry with legislation like the Digital Market Asset Clarity Act (CLARITY Act), which is scheduled for a vote on September 15. 

He pointed to the United Arab Emirates (UAE) and countries across Asia as examples of nations moving quickly to embrace digital assets and mirror the U.S. regulatory approach.

He closed by tying the crypto and AI races together: "We are all in [the] crypto race. We are winning the AI race, and I think that's going to serve our country for generations to come."

President Donald Trump has also consistently maintained that the U.S. would become the "crypto capital” and “Bitcoin superpower of the world" and said that he was "committed to ensuring the United States remains number one in artificial intelligence." 

Bitcoin’s price was trading at $78,917, up by over 1% during the past 24 hours. On Stocktwits, retail sentiment around BTC remained in the ‘bullish’ zone, while chatter stayed at ‘high’ levels over the past day.

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