Author: DeThings Team
On February 6, Eric Trump reiterated his bullish stance on BTC in a tweet, saying "Feels like a good time to get into #BTC." He also tagged the DeFi project World Liberty Financial, which is related to his family.
This is not the first time the president's son has expressed optimism about BTC. In an interview with Benzinga in December last year, Eric said he holds BTC, ETH, Solana and Sui, "I'm very bullish on BTC and I'm bullish on crypto."
Later that month, Eric predicted that BTC's price could reach $1 million in a keynote speech at the Bitcoin MENA conference in Abu Dhabi, and saw it as a revolutionary financial paradigm that can reshape the global economy.
"BTC has completely changed the way we look at money, wealth and the future... and the way our company raises capital," he said at the event. "The revolution is not coming, it's here."
Eric's statements came as BTC faces headwinds from economic uncertainty caused by tariffs. On February 1, US President Donald Trump announced tariffs, triggering a market-wide selloff.
Since then, BTC's current trading price is around $97,700, unable to sustain a rally above $100,000, down 7% in the past seven days. ETH has plummeted, down 37% from its recent high on January 31, one of the largest declines in recent history.
Echoing his praise of BTC, on February 4, Eric Trump also said: "Now is a good time to add ETH."
Within 18 hours of hitting its low, ETH rebounded over 35%, surging from around $2,300 to over $2,900 in less than a day. Since then, ETH prices have stabilized, trading around $2,830 as of February 6.
Using social media to manipulate the crypto market
In recent months, BTC has maintained a strong upward trend, but when Eric Trump made the above statements, BTC's market structure was completely different from ETH. While his ETH tweet coincided with the market bottoming out and extreme oversold conditions, BTC's trading price has been close to its all-time high, leaving little room for a sudden reversal.
Eric Trump is a relatively low-profile member of the Trump family, but his financial views are closely tied to his family's political stance. Eric's remarks are seen by some analysts as signals that directly impact the market. The rapid spread effect of social media allows ordinary investors and traders to react quickly, driving market volatility.
However, Eric Trump's statements are not merely expressions of personal investment views, but also have deep political and economic motives. The Trump family's relationship with the crypto market is rather complex, and Eric's tweets seem to have to some extent driven market sentiment.
Furthermore, the Trump family has also issued meme coins after previewing them on Twitter. Even Musk's promotion of Dogecoin and SHIB has utilized Twitter.
The Trump family is also involved in multiple crypto projects, including World Liberty Financial, which Eric is involved in. The platform claims its goal is to promote the adoption of cryptocurrencies and DeFi, although it has not publicly engaged in BTC trading, its portfolio includes a large amount of crypto assets such as ETH and TRON.
The World Liberty team purchased over $70 million worth of crypto assets before the Trump inauguration. This investment has increased the entity's cumulative crypto holdings to $325 million.
According to data from Arkham Intelligence, the project transferred most of its crypto assets (including large amounts of ETH and WBTC) to Coinbase on Tuesday.
World Liberty's crypto investment portfolio has shrunk significantly, down over 90% to around $34 million.
