The post Eric Trump Claims Crypto Can Rescue the US Dollar – Here’s How appeared first on Coinpedia Fintech News
Could cryptocurrencies actually help the US dollar?
Eric Trump, son of the US president and a prominent crypto supporter, thinks so. He told the Financial Times that growing demand for digital assets could bring “trillions…from around the world in wonky currencies” into the US, potentially strengthening the dollar.
His comments came a little after ringing Nasdaq’s opening bell to mark the market debut of American Bitcoin, a crypto company where he holds a stake worth over $500 million.
Trump said, “Mining bitcoin here, and being financially independent…arguably saves the US dollar.”
Trump Family’s Crypto Moves
The Trump family has been busy in crypto. Their ventures include a Truth Social Bitcoin ETF, two memecoins ($MELANIA and $TRUMP), and a bitcoin treasury linked to Trump Media & Technology Group and World Liberty Financial (WLFI), a decentralized finance platform co-founded by Eric and Donald Jr.
WLFI recently launched its $WLFI token on public exchanges, generating around $500 million in earnings for the family, and also issued a USD1 stablecoin pegged to the US dollar, which has already been used for multi-billion-dollar investments in the crypto market.
Also Read: Senator Warren Slams GOP’s Crypto Plan, Warns of ‘Presidential Corruption’
On the memecoins, Eric said it was a bit of “fun.” People “want to bet on a coin, or they want to bet on a player…Or they just love somebody to death, and they want to buy…a kind of small piece of them, via digital currency.”
He also emphasized that their crypto ventures give them independence from traditional banks, allowing the family to operate without relying on Wall Street institutions.
Why Crypto Could Help the Dollar
The US dollar has struggled this year due to trade tensions, interest rate cuts, and rising debt. Investors are questioning its long-term reliability as a store of value.
Eric Trump argues cryptocurrencies like Bitcoin and Ethereum could help. These are considered reliable stores of value because of their wide adoption, decentralization, and limited supply.
Bitcoin’s supply is capped at 21 million, with new coins created at a predictable rate and halved every four years.
Stablecoins and the Dollar
Stablecoins could also play a role in keeping the dollar strong. The Trump administration supports light-touch regulations and innovation in digital finance. Executive Order 14178 and the GENIUS Act aim to protect lawful crypto use while reinforcing the US dollar’s global role.
Treasury Secretary Scott Bessent said, “The dollar now has an internet-native payment rail that is fast, frictionless and free of middlemen. This groundbreaking technology will buttress the dollar’s status as the global reserve currency.”
Experts See Risks
Not everyone agrees that cryptocurrencies will strengthen the dollar. Jeremy Siegel, Chief Economist at WisdomTree and Wharton professor, has called Bitcoin a potential threat to the US dollar’s global dominance.
He points to crypto-based systems as faster and more efficient alternatives for international transfers. Bitcoin’s fixed supply and reputation as “digital gold” also make it a limited resource that could, in theory, challenge traditional fiat currencies.
Some see cryptocurrencies as a challenge to traditional finance, while others see stablecoins as a useful addition. The debate continues, showing both the potential and the uncertainty of digital currencies.
