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Business Standard
6 days ago
- Business
- Business Standard
Royalty to sovereign wealth funds, everyone is buying Bitcoin: Eric Trump
Bitcoin, even in small amounts, could be worth a fortune, said Eric Trump, son of US President Donald Trump. Speaking at the Bitcoin 2025 conference in Las Vegas, he claimed that even 0.1 BTC, a fraction of the flagship cryptocurrency, could hold significant value in the near future. Appearing alongside his brother Donald Trump Jr., Eric made a bullish forecast, predicting that the value of Bitcoin would skyrocket in the near future, citing surging global demand and tightening supply. 'Everybody in the world wants Bitcoin,' Eric Trump told a packed audience. 'I do not care where you are—royal families, financial institutions, sovereign wealth funds—everyone is buying Bitcoin. No one wants to get rid of it.' Notably, the flagship cryptocurrency reached a new all-time high of $111,970.17 earlier this month on May 22. This followed nearly four months of sideways consolidation, which led to the cryptocurrency surpassing its previous peak of $109,114.88, set on January 20 this year, reflecting a strong bullish resurgence. Eric emphasised that Bitcoin's increasing scarcity is contributing to its upward trajectory. 'The OTC desks have the least amount of Bitcoin on their books than ever before. The supply is drying up while the price keeps going up,' he said, referring to over-the-counter trading platforms used by institutional investors. JUST IN: ???????? Eric Trump says "everyone in the world wants #Bitcoin, everybody is buying Bitcoin" "0.1 BTC is going to be worth an absolute fortune" ???? — Bitcoin Magazine (@BitcoinMagazine) May 28, 2025 He also highlighted the growing institutional adoption of Bitcoin, pointing to recent moves by companies such as GameStop and Truth Social. 'Twelve months ago, maybe 100 companies had Bitcoin on their balance sheets. Now, every single day, another sovereign wealth fund is jumping in,' Eric added. Eric further noted that the popularity and demand for the well-known cryptocurrency are not restricted to any particular region but span the entire globe. 'This isn't just America. This is the Middle East, Africa, Asia, Fortune 500 companies, private family offices. Everyone wants it as a balance sheet item.' He encouraged new investors not to be discouraged by Bitcoin's high price tag, reminding them that the system was designed for fractional purchases. 'Don't be afraid of the integer. You can buy fractions. That is how Satoshi intended it. We are still so early to the game,' he said, referencing Bitcoin's pseudonymous creator.
Forbes
24-05-2025
- Business
- Forbes
‘Just The Beginning'—Bitcoin Suddenly Braced For A Huge Week After Crypto Price Boom
Bitcoin and crypto prices have rocketed over the last week, with the bitcoin price hitting a fresh all-time high as traders predict a $6 trillion earthquake is on the horizon. Front-run Donald Trump, the White House and Wall Street by subscribing now to Forbes' CryptoAsset & Blockchain Advisor where you can "uncover blockchain blockbusters poised for 1,000% plus gains!" The bitcoin price has soared around 50% since its April lows, rebounding along with stock markets, and sparking wild predictions the Federal Reserve is gearing up to blow up the crypto market. Now, as a Wall Street giant suddenly flips from gold to bitcoin, the bitcoin price is braced for a huge week that will see U.S. president Donald Trump's vice president JD Vance speak alongside Trump's crypto czar David Sacks at the Bitcoin 2025 conference. Sign up now for the free CryptoCodex—A daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin and crypto market bull run "This is more than a headline moment—it's a signal,' David Bailey, the chief executive of Bitcoin Magazine publisher and organizer of the conference BTC Inc who has become an unofficial advisor to the Trump administration on bitcoin, said in a statement. 'Bitcoin is the most exciting financial innovation in the world,' Bailey added. "It's at the forefront of the national conversation.' During last year's Bitcoin 2024 conference in Nashville, then presidential candidate Donald Trump announced that he'd create a bitcoin strategic reserve if won the White House in November—a promise he followed through on in March via an executive order. This year, U.S. vice president JD Vance is headlining the conference, due to speak at 9am on Wednesday, while Trump's crypto czar David Sacks and executive director of the president's council of advisers on digital assets Bo Hines will address the conference on Tuesday. Earlier this week, Trump's son Eric, who has fully embraced bitcoin and crypto via his World Liberty Financial decentralized finance (DeFi) platform that was founded in response to the Trump family being debanked by Wall Street, posted to X that 'this is just the beginning of this incredible ride.' Eric Trump added that he hoped 'you listened" to his February advice to 'enter bitcoin.' The bitcoin price rally in recent weeks, coming as Trump hosted the top holders of his controversial memecoin for a a gala dinner, has spurred a flood of bullish bitcoin price predictions that include bitcoin replacing the U.S. dollar within ten years. Sign up now for CryptoCodex—A free, daily newsletter for the crypto-curious 'Institutions are turning to bitcoin because of uncertainty,' Ryan Chow, the chief executive of bitcoin DeFi protocol Solv, said in emailed comments. 'In a fragmented macro landscape, bitcoin is emerging as a macro asset, global hedge, and digital reserve asset. A new all-time high sends a clear message—it's validation that bitcoin isn't going away.' This week, JPMorgan's bitcoin-skeptic chief executive Jamie Dimon announced it will begin offering bitcoin to clients as Wall Street gradually warms up to crypto while companies around the world are looking to follow software company-turned-bitcoin acquisition vehicle MicroStrategy in buying and holding bitcoin as a long-term investment. 'Bitcoin reaching an all-time high is a powerful reflection of how far the digital asset ecosystem has come," Vincent Chok, the chief executive of corporate treasury services company First Digital, said via email. 'We're witnessing a clear shift in institutional perception, with public companies increasingly adopting bitcoin as a treasury asset.'
Gulf Insider
22-05-2025
- Business
- Gulf Insider
Abraaj Restaurants Becomes First Bitcoin Treasury Company
Today it was announced that Al Abraaj Restaurants Group B.S.C. has become the first publicly traded company in the region to adopt Bitcoin as a treasury reserve asset. The Bahrain-based hospitality firm announced today it has acquired 5 Bitcoin for its balance sheet, with plans to significantly increase its allocation over time. JUST IN: 🇧🇭 Al Abraaj Restaurants Group becomes first publicly traded company in middle east to purchase #Bitcoin as a treasury reserve asset 💥 — Bitcoin Magazine (@BitcoinMagazine) May 19, 2025 'Our initiative towards becoming a Bitcoin Treasury Company reflects our forward-thinking approach and dedication to maximizing shareholder value,' said Abdulla Isa, Chairman of the Bitcoin Treasury Committee at Al Abraaj. 'We believe that Bitcoin will play a pivotal role in the future of finance, and we are excited to be at the forefront of this transformation in the Kingdom of Bahrain. 10X is a proven leader in advising and bringing capital to listed Bitcoin Treasury Companies, and we welcome their partnership in helping us build the MicroStrategy of the Middle East.' The decision makes Abraaj not only the first in Bahrain, but also in the GCC and wider Middle East, to publicly hold Bitcoin on its balance sheet. The investment is a direct response to growing institutional interest in Bitcoin and comes amid what appears to be a regional shift toward digital assets. Abraaj's strategic partner in the transition is 10X Capital, a New York-based investment firm with a strong track record in digital asset treasury management. 10X previously advised companies like Nakamoto on its $710 million Bitcoin-focused financing round. 'I'd like to congratulate Abdalla Isa and the team at Al Abraaj for adopting Bitcoin at the corporate treasury level, finally enabling anyone in the GCC with a brokerage account to gain Bitcoin exposure,' said Hans Thomas, CEO of 10X Capital. 'Bahrain continues to be a leader in the Middle East in Bitcoin adoption, backed by a forward-thinking regulatory framework.' Thomas added, 'The GCC, with a combined GDP of $2.2 trillion and over $6 trillion in sovereign wealth funds, has until now lacked a publicly listed Bitcoin treasury company like Strategy, Tesla, or Metaplanet. That changes today with ABRAAJ's historic Bitcoin purchase.' Abraaj said it will continue to work under the regulatory oversight of the Central Bank of Bahrain (CBB) and has pledged full compliance with all digital asset transaction laws. The company will adopt robust custody, risk management, and governance protocols for its Bitcoin holdings. Disclosure: Nakamoto is in partnership with Bitcoin Magazine's parent company BTC Inc to build the first global network of Bitcoin treasury companies, where BTC Inc provides certain marketing services to Nakamoto. More information on this can be found here . Also read: Bitcoin Jumps To New All-Time High, Surpassing Prior Record In January
Int'l Business Times
20-05-2025
- Business
- Int'l Business Times
Bitcoin Champion Sen Cynthia Lummis Cancels Meeting With Ripple CEO, $XRP Tumbles
Cynthia Lummis Sen. Cynthia Lummis, R-Wyo., reads the draft of the "Bitcoin reserve bill" at Bitcoin 2024 conference in Nashville. Bitcoin Magazine YouTube | Cynthia Lummis Unveils Bitcoin Strategic Reserve Bill Bitcoin Magazine on YouTube / Screenshot Garlinghouse urged Lummis to reconsider her stance and "be a leader for all of crypto" Bitcoin maximalists slammed the Ripple CEO for criticizing Lummis in public $XRP holders said it appears Lummis doesn't want a level-playing field in the crypto industry Sen. Cynthia Lummis, R-Wyo., has canceled a meeting with Ripple CEO Brad Garlinghouse, dashing hopes for a potential shift in dynamics in the long-running power struggle between the Bitcoin and XRP communities. Garlinghouse took to X on Monday to reveal that Lummis, known for championing a national strategic Bitcoin reserve, "canceled a meeting" with him and will not reschedule. Ripple CEO calls out Lummis In his Monday revelation, Garlinghouse said he was heading to the Capitol "to champion sensible pro-crypto legislation around stablecoins and market structure." As he has done in the past, the Ripple leader called for open-mindedness when it comes to politicians dealing with the cryptocurrency industry. He specifically called on Lummis to reconsider her stance. "As a leader in Congress and Senator from one of the most crypto-friendly states (WY), I hope you will reconsider and be a leader for all of crypto," he wrote. Heading to DC to champion sensible pro-crypto legislation around stablecoins and market structure, and I'm very encouraged to see our elected officials look at crypto as it should be – a multichain industry. That said, @SenLummis, as Chair of the Digital Assets Subcommittee,… — Brad Garlinghouse (@bgarlinghouse) May 19, 2025 Despite his subtle jab at the Bitcoin-friendly senator, who also chaired the Senate's Digital Assets Subcommittee, Garlinghouse said it was still encouraging to see that some government officials "look at crypto as it should be – a multichain industry." This was hardly the first time Garlinghouse criticized "maximalism," a term used by crypto users to refer to crypto holders who believe a specific digital coin is the only digital asset the world will need in the future. $XRP dips amid news XRP, the world's current fourth-largest crypto asset by market capitalization, retreated Monday after news of the canceled meeting spread across crypto communities. Data from CoinGecko showed that XRP prices plunged as low as $2.30 from trading at around $2.38 earlier in the day. Despite the price dip, XRP remains in the green, climbing by 0.6% in the last 24 hours. Ripple oversees the development of the XRP Ledger, whose native cryptocurrency is XRP. There has been an ongoing war of words between BTC maximalists and the XRP Army, which has often pushed Bitcoin and XRP to trend on social media. $BTC maximalists, $XRP army clash on X On X, where the bitter word war among top crypto communities has triggered questions on unity in the space, another exchange of words emerged from Garlinghouse's revelation. Prominent BTC maximalist Pierre Rochard blasted Garlinghouse for his alleged push for central bank digital currencies (CBDCs). "Nobody takes you seriously anymore," the Bitcoin Bond Company CEO said. You ruined your reputation and lost all credibility by pushing for CBDCs and against Bitcoin. Nobody takes you seriously anymore. — Pierre Rochard (@BitcoinPierre) May 19, 2025 Chainlink community liaison Zach Rynes said Garlinghouse shouldn't have called out Lummis publicly, saying it doesn't help improve crypto's relationship with politicians. Very weird tweet, if she didn't want to take a private meeting, why call her out publicly? That's not going to help relations, and why offer an even more public livestream discussion? — Zach Rynes | CLG (@ChainLinkGod) May 19, 2025 Other prominent crypto users encouraged Lummis to take up Garlinghouse's offer to discuss the broader crypto space with the Ripple CEO through an X Spaces session. That would be a great X space, @SenLummis! — Vet (@Vet_X0) May 19, 2025 Some also encouraged Lummis to join advocacy groups that provide advice on pro-crypto policies. Others in the XRP community said Lummis may want "an unfair advantage for Bitcoin" since a level-playing field for all crypto firms and projects might threaten the world's most valuable cryptocurrency. Why would @SenLummis cancel a meeting? Perhaps she wants an unfair advantage for Bitcoin. A level playing field is too threatening for Bitcoin, perhaps. — 🪝 (@DarkScarf89) May 19, 2025 @bgarlinghouse's spot on. If the U.S. wants to lead in crypto, open dialogue between the public and private sectors is non-negotiable. Refusing to meet sends the wrong message, and slows real progress. This is a multichain, global industry. Policy needs to reflect that. — JDNomax (@JDNomax) May 19, 2025 The official X handle of the Rowen Exchange agreed that Garlinghouse was right for publicly revealing Lummis's cancelation of the meeting, indicating growing demand for political interest in other crypto coins and companies outside the Bitcoin brand. Thank you for calling this out. This needed to be said — Rowen Exchange (@RowenExchange) May 19, 2025 Lummis has yet to respond to concerns around her supposed favor of BTC and rejection of other crypto projects. © Copyright IBTimes 2024. All rights reserved.
Yahoo
20-05-2025
- Business
- Yahoo
Vice President J. D. Vance to address Bitcoin conference in Las Vegas
U.S. Vice President J.D. Vance will address Bitcoin 2025 — the world's largest Bitcoin conference in Las Vegas — on May 28, BTC Inc. announced. The organizer behind Bitcoin 2025, BTC Inc. is a leading crypto-centric company that is well-known for publishing the Bitcoin Magazine. Special Discount for TheStreet Roundtable Readers — Click Here to Register Tens of thousands of attendees will attend the vice president's keynote address during the 'Code + Country' program at the conference. The address will also be streamed globally via Bitcoin Magazine's channels. In his keynote, the vice president is expected to focus on innovation, financial sovereignty, and Bitcoin's place in a more resilient American future. Well-known for his criticism of the regulatory overreach, Vance's views on the U.S. government's interaction with open-source money have also been welcomed by the crypto industry. 'This is more than a headline moment — it's a signal,' BTC Inc. CEO David Bailey said. 'Bitcoin is the most exciting financial innovation in the world. It's at the forefront of the national conversation.' Bitcoin 2025 will also be the first such event to attempt the GUINNESS WORLD RECORDS® title for the 'Most Bitcoin Point of Sale Transactions in 8 Hours.' 'Bitcoin 2025 is an opportunity for the community to demonstrate Bitcoin's real-world functionality as a medium of exchange,' BTC Inc.'s chief financial officer Didier Lewis said. 'By enabling direct, contactless payments across the event, we aim to showcase Bitcoin's readiness as a modern and practical currency.' Special Discount for TheStreet Roundtable Readers — Click Here to Register Bitcoin 2025, slated for May 27–29 at the Venetian Conference Center in Las Vegas, is estimated to host over 30,000 attendees, 500 speakers, and 300 exhibitors. The conference features Sen. Cynthia Lummis (R-WY), 2024 presidential candidate Vivek Ramaswamy, President Donald Trump's sons Donald Jr. and Eric, White House crypto czar David Sacks, executive director of the President's council of advisors for digital assets Bo Hines, the Securities and Exchange Commission (SEC) Commissioner Hester Peirce, Gemini founders Cameron and Tyler Winklevoss, and Robinhood CEO Vlad Tenev, among others. Previous speakers have included presidential candidates Donald J. Trump and Robert F. Kennedy Jr. Special Discount for TheStreet Roundtable Readers — Click Here to Register Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
