Eric Trump: Why America Needs Crypto Clarity (Full Interview)

My name is Scott Blackburg. I'm the CEO of Wolf and your host for today. And joining me is Eric Trump for a amazing conversation around Bitcoin clarity and America. Excited to have you here, Eric. Welcome to the show. >> Hey, thanks so much, Je. >> I'm really looking forward to getting right into this and the timing couldn't be more perfect. Bitcoin, which is the subject of the conversation today, has had an amazing past month, going up almost 25% after sitting in the low 60,000 area for quite some time. you have been no stranger to making price predictions and talking about where you see Bitcoin going over the next several years. Curious to hear your latest thoughts on where you see it from right now and and where it could go maybe end of year and later into the next few years. >> Yeah. Well, listen, I was I was buying when it was, you know, in in the high 50s, low 60s. Um, I believe in Bitcoin as much as I believe in anything. You know, you know the story. I think you and I have talked about it before and you've probably heard me speak about it, but you know, we got into crypto because we became the most debanked family in, you know, arguably in American history, right? I mean, I I run one of the great real estate empires anywhere in the world. some of the best hotels, golf courses residential commercial buildings, etc. And, you know, in the middle of the night, I had, you know, Capital One call me and effectively tell me that 300 bank accounts that had never done anything wrong, you know, were all shut down based on the fact that my father was, you know, in politics. And, you know, these are golf courses. These aren't political entities. These were homeowners associations for for condominiums, you know, some of these entities we didn't even own. Um, you know, again, they were we might have been the the manager of these entities. And, you know, again, because my father, you know, wore a red hat that said, "Make America great again." They wanted to shut us down. And you know, I realized what what they were doing to us is the very same thing that they were doing to the entire crypto community. I mean, if you were in crypto and you know, in in in 2020, 2021, they were debanking you. Um, you know, they treated you like a criminal. Um, and these are people that just thought you could do modern finance a whole hell of a lot better than, you know, the Swift system was doing it, you know, better than JP Morgan was doing it and others. And so, um, listen, I I fell in love with Bitcoin. I founded American Bitcoin, which is amazing. We're one of the largest miners in the world. You know, we're about, you know, almost 29x a hatch. We mine, you know, somewhere between, you know, 11 and 13 BTC a day. Uh, you know, we're doing it at 49% gross margins. And, you know, we're doing it using American American Energy all based in in Texas and and the company's been amazing. Um, I buy a lot of Bitcoin on on on my own. I just believe in it. Um, you know, if you believe that, you know, we have a spending problem, which I do as as much my father is is is beating that back and as much as he's growing our economy, which has been nothing but, you know, spectacular to see. Um, you know, and and by the way, this is all around the world. um you kind of believe in kind of an alternative currency. Um you know I I certainly believe in decentralized finance. I I I believe in the powers of that. Um I also believe that we live in the greatest country in the world. We we have the best monetary system. Um as shaky as it can sometimes be. Um and and God help yourself if you live in in many other countries, right? That you don't have a choice, right? If you live in pretty much the African continent, you don't have a choice. And all of a sudden you start looking to to BTC because you know it's a it's a hedge against inflation. And it's a hedge against madness. It's a hedge against instability. It's a hedge against a lot of things. So, um, listen, I will ride BTC forever. I believe in it. Um, it cracks me up when you see an asset that's always had a volatility of of of 60 decrease. Right now, it's gone up what, roughly 70% on average year-over-year for the last 10 years, and then it it comes back down. And, you know, people start kind of freaking as as if you should have an asset that's only one directional, right? It's not exactly how the world works. um you have to have, you know, you have to have real spine to be in in cryptocurrency. And I think the people who don't have spine get flushed out and probably lose a lot of money. And the people who have spine are willing to kind of ride the, you know, the the the tips and the troughs, um are the guys who do awfully well and I'm in it for the long haul as I have been in in it for what the last three, four, five years. >> You mentioned actively buying Bitcoin. Do you have a strategy as to how you go about purchasing it? Is it dollar cost averaging or something different? Yeah, listen, I try and pick the low points and you try and buy in when it's low and you try and hold when it's high and and and add to it even even during those periods of times. But listen, when it started, you know, when it started knocking on on the 50,000 door when it's, you know, 60,000, you know, you're down 50% from all-time highs, it looks like a pretty easy bet to get in, right? I mean, same thing with Ethereum, same thing with other cryptocurrencies that you really believe in. And, you know, that that's when you, you know, actively buy and that's when you kind of, you and so, you know, that's always been a little bit my strategy. No one's going to pick the perfect bottom. Um, you know, you're going to miss the bottom. Uh, but I can tell you, you know, if if if something's down 50% and it's something that you have absolute conviction in, as I do, uh, with with digital kind of currencies, digital technologies, I mean, name name digitized that hasn't won the long-term race, right? Whether it's, um, whether it's photography, right? I mean, you go from the 8 millimeter film to live streaming. I mean digitization one you know whether it's you know the telephone whether it's you know you know these amazing devices that we have I mean >> digitizing technology has always won right and and analog technology has never won and I don't know why >> you know kind of paper money I don't know why why an old antiquated system like the swift system or the old antiquated slow as hell banking system could ever beat something that is faster cheaper more transparent more userfriendly, more intuitive in in every way, shape, and form. It's it's it's not going to win the race. The traditional system is not going to win the race. Cryptocurrency will win the race. And I believe in that with with every ounce of my being. And you know, I really do believe that Bitcoin will be one of the great assets, one of the great stores of value. And by the way, this is coming from a guy, you know, go who who spent their entire life building buildings. That's what this what I do, right? I like I'm into assets I can feel and touch that are made out of steel and sheetrock and concrete that have beautiful chandeliers, right? like I'm I'm a hard asset guy. I I believe in something that's tangible. I never really thought I'd be the guy who believed in something that many people would see as as intangible. When I got into American Bitcoin and you see the 90,000 servers that we have, when you see the the energy that's going into those, when you see the the true cost of securing the network and and actually mining, you realize that it's so much more tangible than than somebody could possibly ever think, you know, that kind of a token would be in in in the stratosphere. Um, and I believe that's the greatest compliment. I mean, for so many reasons, I believe it's the greatest compliment to hard physical assets. >> Compliment's the right word. I think that they can both fit into portfolio there and each kind of as a hedge to other items. How do you think about you have this real estate empire and then really building up the Bitcoin side of the business and how people should think about real estate and Bitcoin fitting into their portfolio side by side? >> Well, listen, you see every day, right? And I'm not I don't mean to get political. I got out of the political sphere and but you know you look at you look at you know states like California right you look at states like like New York they've had the greatest flight of people I mean New York has lost I think 900,000 million people very high net worth people who have all left right a lot of businesses have left the state and it breaks my heart I'm a you know I grew up in New York I worked in New York I run many buildings in New York and you know I can't just pick up Trump Tower now Trump Tower is you know 57th and fifth right it's probably the best location anywhere in New York Trump Tower does exceedingly well but I can't just pick up Trump Tower using a silly example and teleport port it down to Miami where all those people ended up going, right? It doesn't it doesn't work. So, it's a it's you know, hard assets are amazing. They appreciate in value tremendously. Um, you know, but but they're stuck in a certain location. They're immovable. They're they're they're very illquid on a relative basis. I mean, how many people out there do you think could write a check to go buy Trump Tower right now? You know, very very very few. >> Um, you know, versus you take the opposite, right? And by the way, you could have a fire in a building. You can have insurance problems in a building. You can have, you know, crappy management in a building, right? I mean, I could go down the list of of of things, right? You could have political unrest in a city. You could have bad government. You could have bad mayors. I mean, we've seen plenty of those in in New York City. You could have taxation problems in New York. You could have, you know, you name it. You could have congestion pricing where if they go below a 59th Street, they have to pay $20, right? Another stupid thing that New York's putting in. You could have MTA train problems, right? You don't have any of that when it when it comes to to to Bitcoin. You know, you have an asset that's liquid 24 hours a day, 7 days, you know, a week. um that's that's totally global that get can't be taken that can't be burned that can't get destroyed in a storm that you know it's just it's a different store of value and one that I think is incredibly powerful and again you know we're all sitting here as Americans we have the best form of of government we we have by far the best economy in the world right we're what you know $34 trillion we we you know what's China right now $22.5 trillion dollars roughly I mean it's not even by the way we we do that with 150 the amount of people it's not even close I mean we are we are the absolute absolute leader in every way, shape or form. And again, we can still find tremendous value in digital assets over here. Again, imagine being in so many of these countries around the world which are facing, look at Argentina, you know, even before Millie, you know, you had a country that was facing 60, 70, 80% inflation a year, you get your paycheck and every single day, you know, that paycheck was absolutely going to hell. Now, if you lived in a country like that, what's your play? My play would be to put in Bitcoin, an asset that's traditionally gone up 70% a year as opposed to losing 50% of your net worth by leaving in a local currency that you know that that has no value to it and has no real liquidity to it and you know is is being put under enormous pressure by politicians and archaic rules and you know weird stimulus and and and other things. So, Bitcoin and and just digital assets in general, you know, the role that they play um for the individual and for economic freedom and and around the world, it's it's it's incredible. And I think it's one of the reasons that they're doing so well. And, you know, you look at kind of the Clarity Act, what we're trying to do here. You know, every country pretty much has a version of the Clarity Act that's going through. Russia just passed their version of effectively the Clarity Act. I mean the way countries are embracing largely because of what America and my father has done but the way countries are starting to embrace digital assets you know if you look outside of the 50 states is incredible I mean this is happening globally look at what you know South Korea is doing when it comes to look at what Vietnam is doing look at what obviously I just mentioned Russia look at what so many of the countries in South America are doing in terms of embracing digital assets um you know look at what the UAE is doing for instance I mean they've really become a global hub of of of dig digital currencies right now. You know, people are sprinting toward it and and even in places that are super regulated, i.e. China, you know, I spoke at at Bitcoin Hong Kong, I think I had 25 26,000 people show up to hear me speak. So, you otherwise have a regulated market where you fill up, you know, major arenas, you know, and major convention halls with, you know, with 25 thou plus thousand people who are that interested. And this is this is, you know, coming out of a closed society where they're not even technically allowed to own cryptocurrency right? That that's really the magnitude of it. That's the power of it. That's how much people love it. And then obviously you look at our generation. I put you and I obviously in the same generation, but you look at the way we've embraced it and how we've had fun with it. And you know, and then you last but not least, you take this AI boom. The faster AI explodes, the faster cryptocurrency explodes. Like you know, if I go on Claude and I ask it to book my wife and I a a beautiful trip to um you know to the Maldes, right? I'm not paying for that using hard dollars. You know how I'm going to pay for that? I'm going to use it for through you know kind of tokenized assets and and you're going to have AI linked up to your digital. So it's the faster you see this incredible boom that we're seeing you know mainly in the US because we're clearly leading the way in that and in cryptocurrency but the faster we see this AI revolution the faster you're going to see cryptocurrency kind of evolve and become you know mainstream. And listen, when JP Morgan, >> you know, when when you literally have the CEO of JP Morgan who was was dogging cryptocurrency, you know, 18 months ago, >> you know, and now and now he's out there every single day, you know, JP Morgan just released their whole, you know, mortgage back securities where you could effectively, you know, collateralize your your Bitcoin holdings to go get a, you know, mortgage on a house. Something's changing in the world, right? And you're seeing that with Fidelity. You're seeing that with Schwab. You're seeing that with I mean, obviously, Black Rockck, they've done a phenomenal job. again JP Morgan, you're seeing that with Cityroup right now and um a lot of amazing things are happening that are making this incredibly mainstream even relative to 18 months ago and and that's very exciting. >> Yeah, 100% there's been mass adoption that's coming in and you mentioned so many of these countries that have partially been stimulated by the US to pass their own types of bills and specifically to the Clarity Act. that passed the House 294 to 134 back in July of 2025. Closure filed um August 8th just now in 2026 and I believe that they're going to vote on that September 15th. Uh I'm curious when you look at you know these other countries that are passing bills. Why is it matter that the US is not just participating in one of these countries but leading the charge here? >> Because we're America. We have to be number one in everything we do, right? And you know it was always my father's stance. It was why I fought so hard on a political trail even though I'm not really involved in politics anymore, right? But it's, you know, we love this nation as we have the greatest country in the world. We need to be number one at absolutely everything we do. It's just who we are as Americans. We have the best military in the world, the best economy in the world. And we do. Um, but we better we better lead the way in advanced technology. I mean, you know, we we better we better lead in AI. We better lead in cryptocurrencies because those are, you know, those are the future. We better lead in space exploration because those are the future. That that's what makes us the superpower of the world. And, you know, it's funny. Go look at the UK and I've got a lot of properties over there. I have a lot of hotels over there. Like, good luck. Good luck winning the crypto war. You can't because you know why? Their energy profile sucks. Um they've got terribly expensive. So So they're not going to win crypto. They're not going to win AI because they're not we're suited to. We've got the best energy profile in the world. We've got the cheapest energy cost anywhere in the world. You know, drill baby drill has been a big kind of part of my father's, you know, administration. But, you know, he believes in order to have a prosperous society, you better have low energy costs. You you you you better have low electrical costs. You better embrace, you know, those great technologies. And so America has to lead the way. I mean for for natural defense for you know in order to keep the number one superpower status in order to keep America you know the US dollar the the reserve currency of the world you better embrace these technologies and and we have and the industry has and again I'm not trying to get political at all the point of this but if you look at the last administration I mean you know anybody who came into to you know America from abroad with a great idea in kind of the crypto space overall know they were arresting these guys they were throwing them in jail for for doing nothing wrong and everybody said listen we don't want to touch America with with the 10-ft pole. We we don't want to go in. My father took the exact opposite approach which is come to America and build your projects right here, you know, and we're going to win this race and we're going to beat China, you know, we're going to beat Russia. We're going to beat everybody else, but you know, we we will own cryptocurrency. We will develop it. We will develop the framework for it. And that's really important. And so, as they've been talking about clarity and as they were talking about obviously the Genius Act and so many other things, you needed the,000 pound gorilla in the world to to say, "Listen, we're open to it and this is how we want to do it and this is how we want to regulate it and this is how we're thinking about it." You would have never had a Vietnam, using a silly example, come out and say, "Okay, we're going to, you know, we're going to create this legislation." Like, it took an America doing that to embolden all these other countries around the world to follow suit, right? You would have never had the adoption that that that cryptocurrency has had on a on a government basis had it not been for America kind of coming in and and flat out embracing that. And it's really because of my father, you know, you couldn't have. People wouldn't have had the backbone. They wouldn't have had the guts to go out and and kind of be that bold. that now what's happening is if it's good enough for America, >> it's good it's good enough for us, right? And so what you're seeing is you're seeing all this legislation all these countries around the world that literally almost exactly parodies, you know, the very legislation that that you know um obviously our country has been working on. And I think that's a great thing, right? I mean that's why we always have to lead. We we we always have to lead. We have to be at the front forefront of these things. And and listen, we are winning the crypto race and you know that better. You've talked about it probably better than anybody in the world. We are winning the crypto race. we are winning the AI race. Um, and I think that's going to serve our our our country for literally generations to come. >> Yeah, I 100% agree. It's very very important to be leaders in these categories and I especially think you hit on a huge topic there with power being a constraint and needing to be the one that continues to invest in that and develop it. You see it in these portfolios coming out from like Peter Theo when they release the 13F, right? That's what they're invested in. Sure. >> Um, is that underlying area and they're invested in American companies. >> Sure. Listen, power is everything, right? I mean, it's it's amazing. You you look at American Bitcoin, which is a company that I started with with HUD 8, some really good friends I have and and um you know, again, we're about, you know, 28 29 x a hash of of compute power, 90,000 servers, um mining a lot of Bitcoin every day, about 50% profit margins. We're we're a company that is growing very very very very fast. I mean, in in 11 months, we put, you know, well over 8,000 Bitcoin on on the books. We mine every every single day. But I mean, what is that? It's really a power trade, right? I mean, we're able to go and and and and buy extremely cheap power, lock into extremely cheap power. Obviously, go go go out and get the A6 and and is effectively a way to arbitrage power, right? You know, our our power and costs >> are are about 50% and we're running about 50% profit margins up and above that for every Bitcoin that we mine, which is a lot every single day, but we're doing it 24 hours a day. The machines don't stop 24 hours a day, 7 days a week. >> And so, it's really kind of an energy arbitrage. And we're fortunate we can do that. I mean, go try and do that in Scotland. Like, good luck. like you know you know your cost per bitcoin is going to be about $300,000 a bitcoin you know if you even have enough power to to actually turn on the machines it's probably more than that right and and that's a great structural advantage that we have but same thing with with AI I mean you you need cheap dynamic you know plentiful power you know how are we going to solve the problem of breast cancer how are we going to solve the problem of Alzheimer's how are we going to solve the problem of uh you know pediatric ailments pediatric cancers I've been on the board of St. Jude, you know, and done more for them than than just about anybody in the world, right? That things are really, really near and dear to my heart. You know what? You know what solves those problems and does so really, really quick? >> AID advanced compute, right? And you know, you know how you actually can bring down the energy profile and energy costs throughout the country, you know, allow some of those AI, you know, you know, data centers, you know, to otherwise subsidize the cost, which they can do. they can even out kind of, you know, cost curves in the electrical grid and and they can >> and so there's a lot of net benefits to this. Not to mention, >> guess what? You won't be able to fight a war if you don't have advanced technology, right? You know, good good luck trying to fight a war against, you know, an adversary without the best AI, you know, and and um you know, and and obviously again, you need the energy profile to to be able to do that. And so energy is everything. And you're right, that's why Peter Teal is doing it. That's why we're all sprinting at energy. And you know, it's amazing. Despite the kind of the conflict in the Middle East, look how much energy has come on. I mean, you have energy that's that's in the 80s. No, no one would have ever thought you could have had a major conflict over in the Middle East against one of the greatest oil producing nations in the world and see energy in the 80s with forward curves that drop very very very quickly, right? And you see the amount of energy that's coming online in in Venezuela, which is great for our hemisphere, right? you know, especially now given kind of the symbiotic relationship between between us and, you know, and kind of the partnership, you see the amount of of energy that's coming online in the US and it's all forms of energy. If you like renewables, you have renewables that are coming online. If if you like, you know, natural gas, we've got the best natural gas reserves anywhere in the world, that that kind of energy is is coming online. You if you like, you know, solar and wind, we've got that coming online. So, it's kind of a whole whole of energy approach, you know, but then you're also tapping into oil and gas fields in ways that we never had before, which is a beautiful thing. We're exporting fuel for the first time, which is making this country a lot of money. And frankly, we're getting a lot more sophisticated about how we extract, you know, fossil fuels um in in plain ways um which is also making, you know, old wells a hell of a lot more efficient. I mean a lot of a lot of these companies are coming in saying I I think we can harvest you know 30 40 50% more out of the these otherwise kind of washed up wells you know wells that have largely been exploited just based on current modern technologies without having to to to put in new infrastructure and drill in different locations and these are beautiful things for the United States of America that gives us a huge competitive advantage versus a China you know which has had to historically get all the oil and gas either from >> guess what an Iran that becomes a hell of a lot more difficult now >> a Venezuela that becomes a hell of a lot more difficult now. Um, you know, a Russia, um, you know, they've got their own problems. Um, you know, and so, but believe me, people would love to have the competitive advantage that we do as the United States of America in terms of energy independence and and and and cost profiles of energy. >> Yeah. And it makes it very attractive for companies like Andre and others as well to build here everything that they're doing on the military side too. Moving over a little bit back to you talked about having that debanking experience and so you had you know this real estate empire and a variety of other companies as well right that were running on traditional banking systems and utilizing the dollar and then you had to move a lot of that over to the crypto side. I'm really curious to hear about you know pros and cons the crossovers moving from wires to sending Bitcoin transactions hashes different pieces like that what that experience is like. Yeah, listen, we're a hard asset family. I mean, if if I was sitting here 10 years ago telling you that I would be advocating Bitcoin as hard as I have been building companies surrounding digital assets, I probably would have laughed at you, right? I was a guy who, you know, who's walking through construction sites with a hard hat watching, you know, I beams fly overhead like that. That's been my entire life. And >> um crypto is cheaper, it's faster, it's a hell of a lot more transparent, you know, on every front. I I I've used this analogy a bunch of times because again, you know, I come out of the hotel world and and and rest. >> I don't think there's a Friday that goes by that I'm not waiting for a wire transfer to either come in, you know, that I'm not trying to rush a wire transfer out by 4:00 deadline, right? I mean, we're we're a many billion dollar company, right? We we have wires coming in and out of our company every single day, either for vendors, contractors coming in from, you know, whoever the pay might be. You know, most of the time those wires won't hit until Monday afternoon, Tuesday morning. You're always tracking them down. They're always slow as hell. The transaction fees are monumental. I mean, you know, yet American Bitcoin, we transferred we we transferred some crypto wallet to wallet, right, in our company, you know, I forget the exact amount. I think it was some something like $300 million that we transferred. I think our total cost to transfer that Bitcoin was like, don't quote me exactly on I think it was like 27 cents, >> you know, and we did so instantaneously. It hit the it hit the wallet like 2 seconds later, right? And and so you know when you when you look at international business which is this entire world now when you look at commodity trades when you look at um you know all the payments going around the world I mean think about the loss of of revenue for a company associated with having your money sitting in a an escrow account with JP Morgan you know for for you know a 72-hour 96-hour long weekend while it settles. Of course the banking industry doesn't you know loves that. Like if I was JP Morgan, I could take in people's money, have it sit there over a weekend, clip interest on it, >> you know, it's not like they're handing the the the 4% interest that they're clipping on it, you know, to to the end all consumer, you know, or or to the pay. Of course, they're not getting that. They're taking that. I'd want to be slow as hell, too. In fact, if if I ran one of those banks, I'd probably slow down the process even further than it already is versus kind of, you know, the instantaneous transfer of of dollars visa v their stable coins or or or great assets like like BTC. And that's why it's going to change. It's easier, it's more transparent. Um, you know, all of a sudden this becomes the POS. I, you know, we have, we have dozens of hotels and golf course and other assets. We have Micros, we have Oracle, we have these these wonderful systems, these background in systems are using, you know, great computers, beautiful Dell computers and and other brands and IBMs and, you know, the bartender goes up to the computer and they type everything in. In virtually, you know, half the countries around the world right now, this becomes your POS. You you no longer need a POS. You know what? you tap your phone against somebody else's phone and you know the money instantly transfers you know digital wallet to digital wallet you know you're not you know trying to find the bank if you're transferring money from New York to to Morocco you know to mesh you're trying to find a local branch and and dealing with FX trade and and time latency and do you trust a person there and you know banking fees where all of a sudden now the amount of money that you sent over is is is 70% of its value because you have every middleman sticking their sticky little fingers in your transaction. No, you know, you you give me your wallet address and it goes, you know, it goes wallet to wallet seamlessly instantaneously more transparently, exponentially cheaper, you know, faster. That's why cryptocurrency is is is going to win. Um, we're already winning. I mean, I think I I think the argument is lost for anybody who says that traditional banking is is is here to stay because it's it's just not. And I think it's why when you look at, you know, the Black Rocks of the world, look look at what they're doing with Ethereum. Look at what they're doing with Bitcoin. Look at the ETFs that they're putting out there, Gav. Like, >> yeah, >> you know, the BTC ETFs, you know, they're they're they're the most profitable financial instruments that these financial, you know, institutions have ever launched, meaning in the history of the financial institution. I mean, it's it's it's working like they're they're here to stay and and that's why, you know, for the first time, you know, kind of cryptocurrency always revolved around guys like you and I and DeFi, these convoluted systems that would have been impossible for your grandmother, using that as a silly example, to ever navigate, you know, now all of a sudden, it's really funny, you know, it was always the retail consumer, you know, who who was who was driving price. Now it's the institutional investor that's driving price. I mean, how the tides have turned so quickly. And by the way, back to my previous point, those same institutional investors were dogging that very technology 18 months ago because they knew it would otherwise undermine their business until they realized that they couldn't actually beat it, which is when they decided to hop on the bandwagon. So, it's uh, you know, it's kind of been fun to see the progression over the last couple years. >> Yeah. Some of it is that generational change that you're talking about. You know, my my grandmother, God bless her, just turned 100 a couple weeks ago. She doesn't even like dealing with the banks themselves, right? Like she doesn't want to call. She wants to talk to a person. And that's just something that doesn't exist as much in the world of crypto side. You're moving over and taking things in your own hands. You're removing that middleman. And so it's a almost like a generational change of what's happening to the middleman versus the benefits that you're getting for doing. >> Try try teaching her how to you know loop money on a or you know transfer funds into MetaMask and and and and create gas fees and all this stuff that you have in in in the DeFi world, right? You know, good good luck, right? And now what's happening is you you've got this middle layer which is really kind of you know the CFI aspect, right? You've got the DeFi, which is which is difficult and and and and and obviously harder. Now all of a sudden you've got this kind of CFI aspect which now all of a sudden you've the Coinbases of the world, the Robin Hoods that are making it much easier for the institutional investor. And now you have the institutions who are coming in. You've got Charles Schwab who's coming in a massive way who, you know, wants to be able to custosey all these, you know, and and so now all of a sudden you you've you've got this push toward hospitality. Gav, I was spending so much of my time at the Bitcoin conferences and the other crypto conferences and the tokens, right, and the consensus conferences and I'd get up on stage and I would just start yelling at the crowd, which is guys, if you ever want to be taken seriously, first of all, put on a suit, right? Like, you know, the the >> you know, the the tank tops and the shorts aren't going to cut in like put on a suit. Second of all, please, for the love of God, like focus on user experience. You are some of the brightest people in the world, but you do not understand hospitality. It's, >> you know, you come into a Trump hotel, I'll never let somebody touch the front door. it will be open for them. You know, you'll never touch the door to your room. You'll be walked to your room. The lights will be turned on. Everything will be immaculate. >> You know, you need to spoon feed things to people. They appreciate that. And that will create adoption much quicker. The crypto industry was was was freaking terrible. I mean, freaking terrible is is is an understatement. They they were they were negligent in the actual, >> you know, let's make this easy. Let's focus on user experience. And I used to, and I still do. I yell at the industry, fix the user experience. Make it intuitive. Make it simple. make it make it, you know, make it easy. And the second you make it easy is is when you're going to win. I mean, maybe the only kind of prolific things that the banks have done, you know, you take zel, you know, JP Morgan's kind of, you know, or Venmo. Why did Venmo do well? Well, they just made it easy to transfer money to your friends if you go out and you split a dinner tab or something along those lines. It's super easy to send funds. Well, that's the exact point of of cryptocurrency. It's just so much bigger in so many different you know functions um you know that are cheaper um you know that are safer um that are crossborder um that can actually be a store of wealth right and and so many other functions that that obviously you know kind of cryptocurrency can have um they were successful in those platforms because they made it easy uh crypto has to make it easy and honestly when you see the advent of of of the Robin Hoods and the coin bases they're making it easy they still have ways to go right and I tell the guys that all the time. They're all friends of mine, but still have a little ways to go. But but man, I mean, if you look at at us today versus a year ago. >> Yeah. >> You know, forget about it. I mean, cryptocurrency is growing faster than the internet did in the 90s by by comparison. And I, you know, and and and so you're only going to see that get better and better each month. >> I saw a quote from you that I think sums up what you're saying about us user experience, which is you called it torturous. Uh which I thought was probably a pretty pretty good word I'm pretty sure to use for it. Um can you talk Well, two questions here. I think one question that I have is are these big banks going to adapt and potentially add in the ability for people to have, you know, hey, you want to do your regular trady in the bank, cool, and you want to do crypto in the bank, here's your wallet and system and it's all built right in. That's kind of one question. And then two, I'd like for you to talk before we wrap up here about World Liberty Liberty Financial as well. >> Yeah. >> Well, the big banks don't have a choice. I mean, of course, they're going to adapt because they don't have a choice. You know, I've literally been the biggest proponent of saying the banks are going to be extinct. And by the way, for some of them, that wouldn't hurt my feelings, but but the big banks will be extinct if they if they don't adapt. And and and frankly, it's why they're all bringing on major, you know, crypto platforms. I think Fidelity actually did it, you know, extremely well. You know, I have 401k that's under Fidelity. It's kind of like, you know, the corporate package that, you know, a lot of people have in, you know, big companies. And I remember logging in and the first thing that popped up as soon as I logged in, you know, Mr. Trump, would you create like to create a Fidelity digital asset wallet? >> And I just started laughing, right? Like I mean, who who's more in the digital space than me? in the crypto space than me. And I and so I click yes. I signed it. There's a little check box. You sign this just disclosure. And then all of a sudden, right under your 401k, you know, you have the digital asset wallet. Now all of a sudden you're able to trade Bitcoin, Ethereum. And I'm saying they're saying, "Okay, you've got a company that's got like, you know, I mean, don't quote the exact number, but it's like 30% of of the total 401ks in our country that literally everybody who just went to log in by hitting a simple yes and checking a little, you know, disclaimer, you know, it took me exactly one and a half seconds to do now all of a sudden has has a digital asset wallet, you know, wallet number, and they're able to trade the very things that, you know, you and I are passionate about." And it's happening. It happened with Fidelity. It's happening very very quickly with Schwab. I know the guys over there, they're incredibly focused on it, right? You see, you see, you see the digitiz, you know, the way they want to digitize um, you know, equities, securities, they're already doing it. They don't even need, you know, corporate permission. I mean, people were you digitizing, you know, literally shares of of SpaceX and and many other companies. You know, you're you're going to see that you're going to see artists Taylor Swift, she comes out with an album, you know, why why wouldn't she go why does she have to go Sony Music? Why did she just go out to her, you know, you know, 20 million Swift fans, I'm sure it's many more than that, and say, "Listen, guys, how about everybody buys in for $1,000, you can own, you know, one one millionth of of this album, you know, you can be my partner." They'd love to do that. I mean, you know, regardless of the actual return, you know, they believe in her. They love her brand. You know, they want to be part of something. You know, it gets them kind of closer to the ecosystem that they're otherwise a big fan of. You're going to see this with art. You're going to see this with Hollywood. You're going to see this with commodities. You're going to certainly see it with with real estate and in my business. Why do I have to go out to Deutsche Bank if I want to get financing? >> Why can't I go out to the hundreds of millions of people who who adore, you know, our company, our family, our hotels and say, "Listen, who wants to um who wants to co-invest in, you know, a a project in in uh you know, in in in the Maldes, a beautiful resort, right?" And and and have all the perks that come associated with that and you can create these ecosystems. So, that's happening. World Liberty is is is truly one of the great um you know, projects that that we're involved in. We're the fastest growing stable coin on earth right now. Um, you know, it's obviously USD1. >> Incredibly proud of that. So, you know, you have the Bitcoin side and then you really have the stable coin side. And, you know, I really view one as being great store of value and I really believe that, you know, the other is going to be the rails on which uh the world operates. But, uh, we started that company long before my father got back into politics and um, and it's been a absolute wild ride. We just received our you know our our temporary kind of OC charter um you know turning us into kind of um you know preliminary stages of bank and uh and we're really excited about it I awesome company run by Zach Woff he's a great friend of ours and um and uh USD1 is doing incredibly well growing incredibly quickly um all over the earth and we're we're really proud of it and and we're proud to do it no different than American Bitcoin using American energy to to we're really proud to have USD1 um you know kind of really leading the pack of stable coins because you better believe that um that is that is here to stay and and that will be kind of the rails by which moderate banking runs on. >> Yeah, it's well said. There's a huge need for stable coins. Absolutely. Especially in a world that continues to adopt more Bitcoin. To kind of wrap this up and a lot of great messaging here, I'd love to give people something actionable for a lot of the retail audience that watches this and different people. What's something that hey, you want to make sure you're not falling behind. You're somebody that wants to be at the edge of the curve. Go out and do these things so that you can make sure that you're staying educated and involved in these systems. It doesn't make sense until you do it, right? I mean, when when when I when I first got involved, I I kind of went down the rabbit hole of DeFi just because I really want to understand it, whether or not you choose to use it, right? You know, you you want to be able to understand it and how it works and and and why it works and why it makes sense, right? Go go open up an account. Go to Coinbase, go to go to Robin Hood, go to whoever you know, you want, you know, open up an account. I don't care if you put five bucks in there, but >> but but but understand it, you know? you know, buy buy five bucks worth of Bitcoin, buy $5 worth of Ethereum, buy $5 worth of stable coin, >> you know, re really understand how the rails can work. And I and I think when you see it in practice and you start interacting with it, wow, does it open your mind to kind of the possibilities ahead and and and where and where the world is going. And um and uh again, you know, I'm really proud that we're leading the way as as as Americans. We we ought to lead the way. I think there are great things to come. I I think we are on the you know, we we have 99 more yards to go. People always say, "Hey, you know, did I did I miss the opportunity?" No, no chance. Like like I mean the the rate of kind of expansion of this industry is is astronomical and and our best days are ahead. And listen, you know, we're at 126,000 for for BTC. We're about 81,000 today. You and I were talking about this right before we came on. I mean, it's pretty amazing considering what you know, a week ago, two weeks ago was it was 64,000. Before that, it was, you know, in the high high 50s. It can really be explosive. Now, you have to have backbone. And I say this every single time, like, you know, if you're afraid of seeing something drop 20% and and and you're going to run for the hills, don't even think about it. Go buy mun bonds and, you know, go, you know, to go watch your money effectively get beaten by inflation, which it will, you're going to go backwards. Um, you know, if you if you have the ability to have some longevity and you're willing to stay in something for five, six, seven, eight years, uh, and you're you're you're willing to buy the bottoms, you're willing to buy the dips, you're willing to have conviction, um, you don't fold, you don't, you know, you know, when when when the tide starts going out, you don't you don't immediately, if you're the person who has backbone and go, it's the right industry for you. If you don't honestly just say the hell out of cryptocurrency and you know go go put your money in a you know JP Morgan savings account where you're gain 10 basis points and and uh you know and good luck right and um but have fun with it. I mean really really have fun with it. There's so many different aspects of it. Um and um it is our future and I believe in it as much as anything in my soul. And again this is coming from a guy who was a hard asset person right who never who never thought I'd be out here espousing the benefits of >> who would have thought of of who who would have thought. I certainly would not have, but it's uh it's been one of the most rewarding missions of my life between World Liberty and between uh American Bitcoin and um and just being a little bit of a champion for an industry that really needed a champion early on. Like it was pretty unpopular for a while standing on that stage in a suit as a credible person and you know at the same time it was you know I made some of the best friends I'll ever make and uh you know had had some of the best times I've ever had. >> Yeah, makes sense. And obviously I think as we become more of an integrated worldwide community, right? and you're paying people in other countries and having back and forth. That's when it really clicks for people. But as you mentioned, it's going to happen inside the US itself as well where it's just going to be directly built into your bank account. So start learning now. Don't get left behind and no risk, no reward has never been more true. Amazing to have you on today, Eric. Any final comments before we close out? I really enjoy really enjoy the show. Congratulations on all your success. Uh everybody everybody loves it. Everybody loves how how light you keep it, but how how real it is. And uh you know, congrats. Great honor to be on. And uh you know I I don't I don't do too many of these anymore. Um but but enjoy doing this one. >> Thank you. Really appreciate you making the time. I know our audience got a ton out of this. Everybody, if you joined in late, this live stream will become a recording as soon as we close out. You can go back and watch from the beginning. Thank you to all the viewers for being a part of this. And thank you to Eric and the team for making this happen. 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