Bitcoin Bombshell: Eric Trump Hints At Secret $22 Billion Nation Buy
Day 2 of the Wyoming Blockchain Symposium produced its most arresting soundbite but when Eric Trump prompt a sovereign had quietly gathered a nine-figure trove of Bitcoin. “Let me provide the sovereign wealth…they’re all shopping for bitcoin proper now, in large methods,” he said from the primary stage.
Did A Nation Purchase 200,000 Bitcoin Secretly?
He added: “Or, you already know, our nation simply purchased 200,000 Bitcoin and we did so very quietly. We don’t need anyone to find out about it, however that’s how a lot we consider within the asset.” Trump supplied no identify, timeline or documentation, and framed the comment as an anecdote from conversations with international leaders. The determine — 200,000 BTC, roughly $22 billion at latest costs — immediately ricocheted throughout social platforms and crypto buying and selling chats.
Trump’s broader narrative fused a private conversion story with a muscular forecast for the asset. “Guys, I’m a hard-asset man…I all the time joked [to Michael Saylor] if I can’t really feel it, if I can’t contact it, if I can’t see it, it form of wasn’t for me,” he stated, recounting how a wave of debankings towards his household’s companies and crypto operators pushed him into the business.
“I most likely spend over 50% of my time in crypto,” he added, calling the present backdrop “the most effective [regulatory environment] it’s ever been” and declaring that BTC is “on the one-yard line,” with development over the following six months “explosive” and the following decade “superb.” Whereas calling himself a “Bitcoin maxi,” he reiterated his value targets: “There is no such thing as a doubt about Bitcoin reaching $1 million,” including that “it’s anticipated to achieve $175,000 by the tip of this yr.”
Pressed on geopolitics, he described a “digital land seize” by sovereign wealth funds and corporates transferring so as to add BTC to treasury reserves. “In methods that you may’t even think about,” he stated, earlier than recounting a Greenwich private-banker good friend who as soon as derided BTC as “humorous cash” however later referred to as asking easy methods to purchase — at triple the value.
Trump argued that the convergence of debanking danger, inflation stress in rising markets and the frictions of the legacy funds system is accelerating institutional and retail adoption: “We may pop up a pockets and I may switch $100 million of Bitcoin…in two seconds,” he stated, contrasting it with a year-long business real-estate sale course of.
The “200,000 BTC” quantity is particularly charged as a result of it echoes — however will not be the identical as — estimates of government-controlled wallets already in public view. It’s estimated that the US authorities’s seized holdings have hovered round that magnitude and have been mentioned within the context of the administration’s strategic bitcoin reserve framework.
American Bitcoin In The Focus
The panel additionally centered on an inside take a look at American Bitcoin, the Trump-backed mining-plus-treasury car being carved out with Hut 8. Hut 8 CEO Asher Genoot laid out the working math: final quarter, he stated, vitality price to mine a bitcoin averaged about $37,000, with all-in price close to $57,000, positioning the operation at a steep low cost to identify purchases.
Hut 8 presently manages round a gigawatt of capability with further websites beneath exclusivity and a multi-gigawatt pipeline, he added, arguing that vertical integration lets American Bitcoin “be this pure-play mining enterprise that will get vertically built-in economics with out the overhang of a giant mounted administration crew.” He emphasised self-discipline over scale for scale’s sake, likening capital allocation to grease and gasoline: if new rigs (ASICs) don’t beat merely shopping for BTC over the machine’s life, they don’t purchase.
American Bitcoin’s go-public plans had been one other throughline. Hut 8 has already disclosed that its majority-owned subsidiary intends to record on Nasdaq beneath the ticker ABTC via a merger with Gryphon Digital Mining, with shareholder votes slated for late August and shutting focused for early September, topic to approvals. The corporate’s filings and subsequent protection body the car as a “premier bitcoin accumulation platform,” with Hut 8 retaining a controlling stake. Latest investor supplies have additionally highlighted that American Bitcoin bought 1,726 BTC in Q2 because it ramps its treasury technique.
At press time, BTC traded at $113,845.