Eric Trump hails bitcoin as key to “breaking free” from big banks

Eric Trump, the son of the US President and Executive Vice President of The Trump Organisation, has expressed strong support for bitcoin, praising the cryptocurrency’s global benefits and its potential to enhance financial freedom.

According to a report by Benzinga, citing the Full Send Podcast where Trump Jr. appeared, he highlighted bitcoin’s key advantage — the ability to transfer large sums of money quickly and at minimal cost.

“The main value of bitcoin is that you can send a million dollars in seconds, and the commission will be minimal,” Trump said, emphasising that this very feature makes traditional financial institutions wary of it.

“They want to extract commissions. They want as many intermediaries as possible because it keeps their 70-story buildings light and alive and allows their CEOs to make hundreds of millions of dollars a year,” he remarked.

Trump added that bitcoin allows people to bypass these barriers, describing it as a positive force for global society. “I think it’s a really good thing for humanity. It gives people financial freedoms that they would never have otherwise,” he said.

At the same time, Trump acknowledged that individuals with significant influence and assets, such as himself, are in a better position to challenge the power of major financial institutions. “Guess who doesn’t have leverage? People who don’t have real estate. Regular people, young students, and so on. And suddenly, crypto-assets give them financial freedom,” he noted.

By Tamilla Hasanova