TLDR
- Eric Trump posted “Buy the dips!” on X as Bitcoin dropped to around $109,500
- Eric and Donald Trump Jr. have substantial stakes in American Bitcoin worth about $1.5 billion
- Bitcoin fell more than 6% over seven days, while Ethereum dropped about 8% in the same period
- Trump has made similar crypto endorsements before, including in February
- His crypto involvement extends to advisory roles with Metaplanet, a Japanese Bitcoin treasury company
Eric Trump has once again stepped into the cryptocurrency conversation with a simple but direct message for investors: “Buy the dips!” The son of US President Donald Trump made the statement on X (formerly Twitter) as Bitcoin and other cryptocurrencies faced downward pressure in the market.
The three-word post came as Bitcoin traded around $109,500, representing a drop of more than 6% over the past week. Ethereum was also under pressure, hovering at approximately $4,020, down roughly 8% during the same period.
This isn’t the first time Eric Trump has made such a statement. In February, he posted a similar message using the Bitcoin symbol: “₿uy the dips!!!” His consistent stance shows his bullish outlook even as the market experiences short-term declines.
The timing of Eric Trump’s latest post has drawn attention from traders and analysts. While some retail investors viewed the message as a positive buy signal, others approached it with caution.
Trump Family’s Growing Crypto Presence
What makes Eric Trump’s comments particularly interesting is the Trump family’s expanding presence in the cryptocurrency sector. Eric and his brother Donald Trump Jr. backed American Bitcoin, a mining and accumulation firm launched in partnership with Hut 8.
American Bitcoin recently debuted on Nasdaq, and the Trump brothers’ stake in the company has grown to approximately $1.5 billion following a surge in share prices during early trading. The firm maintains substantial mining operations and holds a strategic Bitcoin reserve.
Beyond American Bitcoin, Eric Trump also has advisory influence at Metaplanet, a Japanese Bitcoin treasury company. Reports indicate he attended Metaplanet’s shareholders meeting in Tokyo in August, as the company prepares for a capital raise tied to further Bitcoin accumulation.
These business connections suggest Eric Trump’s “buy the dips” message carries more weight than casual commentary. His financial interests are directly tied to increased demand for cryptocurrencies and related stocks.
Market Response and Expert Opinions
Reactions to Trump’s post were mixed across the cryptocurrency community. Some retail traders echoed his sentiment and used it as a buying opportunity. Others responded with memes referencing previous market crashes.
Market veterans point out that while social media posts from high-profile figures can spark short-term buying or selling, they rarely change the underlying market fundamentals by themselves. The basic math of supply and demand, along with macro forces and institutional positioning, tends to drive sustained market trends.
There’s also precedent that suggests caution. After Eric Trump urged increased exposure to Ethereum during a dip earlier this year, ETH experienced a 35-40% decline in subsequent months before later staging a recovery and rally.
Some observers have raised questions about potential conflicts of interest. Eric Trump’s roles at Metaplanet and ventures that benefit from increased demand for crypto-related stocks have drawn scrutiny from lawmakers concerned about influence and optics.
Democratic Senator Elizabeth Warren has been a regular critic, questioning the influence of the president’s cabinet and associates on market dealings.
At the time of reporting, Bitcoin trades near $109,430, while Ethereum remains around the $4,020 mark. The market continues to test key support zones as traders weigh various factors affecting cryptocurrency valuations.
For now, Eric Trump maintains his optimistic stance on cryptocurrency investments, continuing to encourage buying during market dips. Whether this strategy proves successful for investors in the long term remains to be seen.
The post Eric Trump Advises “Buy the Dips” as Bitcoin Falls to $109,500 appeared first on Blockonomi.
Source: https://blockonomi.com/eric-trump-advises-buy-the-dips-as-bitcoin-falls-to-109500/