I spent some time with first son Eric Trump and one of his crypto partners Asher Genoot of Hut 8 at Trump Tower on Tuesday afternoon. A large chunk of that time was devoted to all things crypto, naturally.
Besides being President Trump’s son and EVP of the Trump Organization, Eric is also the co-founder of the newly public crypto miner American Bitcoin (ABTC). Genoot’s Hut 8 — where he is CEO — provides the infrastructure (power, back office services, etc.) that allows American Bitcoin to mine bitcoin (BTC-USD).
I’ll have a story out from this meeting on Yahoo Finance later today. But the one thing I haven’t appreciated enough with the crypto story is how global and institutional it’s becoming.
Sure, it’s one thing to read a press release from BlackRock (BLK) saying it’s trying to do more in the space. It’s something else entirely to sit next to ultimate crypto insiders (Trump and Genoot in this case) and hear them walk you through the sovereign wealth funds plowing into various crypto investments.
“Every person I know is trying to buy bitcoin,” Trump told me.
And I believe him.
If you are thinking that crypto is still all about retail traders buying with one eye closed, hoping another crypto winter is coming, you are missing the narrative that has helped propel the space in 2025 … and will likely do so in 2026.