Can Bitcoin Save the US Dollar? Eric Trump Says Yes

As the US is reclaiming its crypto lead under President Donald Trump, his son Eric Trump underscores digital assets’ potential to boost the dollar’s power. According to him, the rising popularity of cryptocurrencies could “save the US dollar.” As a vocal supporter of digital assets and a stakeholder in American Bitcoin Corp, he argues that the surge in crypto demand will draw trillions of dollars in global investment into the US.

How Will Crypto Boost US Dollar’s Power?

In a recent interview with the Financial Times, Eric Trump shared his hope about the ability of cryptocurrencies to help the weakening US dollar. He thinks that the increasing interest in digital assets could bring "trillions from around the world in wonky currencies" into the US, which might strengthen the USD. He added, “Mining bitcoin here, and being financially independent and running a kind of financial revolution [out] of the United States of America…I think it arguably saves the US dollar.”

Notably, Eric Trump’s comments come in response to the USD’s significant downfall this year, largely due to the president’s tariff war and the tensions with the Federal Reserve. The President has long been arguing with Fed Chair Jerome Powell to lower interest rates, threatening to fire him. In addition, the president recently called for Fed Governor Lisa Cook over allegations of committing mortgage fraud. However, the Appeals Court denied this request, allowing Cook to retain her position.

The USD’s value has dropped sharply, causing investors to question its reliability as a global reserve currency. Additionally, concerns about America's rising debt, worsened by the administration's tax bill, have hurt confidence in the US currency.

Bitcoin, a Modern-Day Gold

In a related development that shows Eric Trump’s excitement for cryptocurrencies , he called Bitcoin "modern-day gold.” Speaking on CNBC, he pointed out the growing institutional use of Bitcoin. This includes major corporations and sovereign wealth funds, which makes BTC a significant asset for this generation.

Linking this to his earlier statement, the increasing acceptance of BTC globally could change the game for the fiat. It might draw more investments and possibly strengthen the currency.