Eric Trump, the executive vice president of The Trump Organization, has once again advised investors to accumulate Bitcoin and Ethereum as the market experiences a pullback. This recommendation follows up on a similar recommendation made in February. That initial guidance preceded a historic plunge in the worth of both cryptocurrencies.
In February, Eric Trump suggested accumulating Ethereum. Shortly after, Bitcoin fell about 16% over the next 45 days. Ethereum’s drop was even worse, losing more than 41% of its value in the same time frame.
Just recently, as the stock market was starting to turn around, Trump reposted his advice from February. His renewed endorsement comes as Bitcoin and Ethereum are down 3.56% and 8.81% on the week, respectively.
Eric Trump is willing to do more than lobby on a personal basis. He was deeply involved in co-founding World Liberty Financial, a cryptocurrency startup backed by the Trump family. This risky entrepreneurial venture has reaped tremendous rewards from its volatile investment in ETH, now valued at almost $262 million.
Eric Trump's personal paper profit from World Liberty Financial's ETH investment is estimated at $6.65 million.
At the same conference back in May, Eric Trump expressed his confidence that Bitcoin would exceed $170,000. He further published the advice he was given by Michael Saylor to invest $2 billion into Bitcoin.
Trump also restated his intention to “buy the dips,” just like he did back in February. He has repeatedly tried to make himself look like a big supporter of both Bitcoin and Ether.
