Eric Trump Defends Volatility as American Bitcoin Boosts BTC

Eric Trump, son of US President Donald Trump and co-founder of US Bitcoin, has not been deterred by the recent decline in cryptocurrency markets, saying volatility is the price of making excessive returns.

“I think volatility is your friend,” Trump he said The Wall Street Journal in an interview, as bitcoin (BTC) briefly dipped below $95,000 and was about 25% lower than in early October.

Turbulence was worse in the altcoin segment, where core assets fell from 5% to 11% – part of the weakness that began October 10 market crashwhich wiped out roughly $19 billion in leveraged positions.

Overall, the crypto market has lost more than $1 trillion in combined market capitalization since its peak.

But for Trump, it’s simply part of the cryptocurrency investment landscape.

“Anyone who can’t accept the volatility of cryptocurrency should probably get out of it,” he said. “It’s actually a great buying opportunity for us.”

Related: Gryphon approves merger with US Bitcoin, Nasdaq ticker ABTC

US Bitcoin Accumulates Sat

At least Trump is putting his philosophy into practice. American Bitcoin, the mining company he runs that went public earlier this year through a reverse merger with Gryphon Digital Mining, added more than 3000 BTC in the third quarter, bringing his total holdings to over 4,000 BTC.

Trump has repeatedly emphasized increasing the company’s bitcoin reserves and prioritized metrics such as the bitcoin-per-share ratio, which he says will ultimately boost shareholder value.

The moves come as the Donald Trump administration seeks broader adoption of cryptocurrencies, highlighted by January’s executive order on digital assets, the creation of a federal task force on crypto markets and passage of key legislation for stablecoins. Still, bitcoin’s value has changed little since its Jan. 1 price.

Related: Trump-Linked US Bitcoin Seeks Acquisitions In Asia To Increase BTC Holdings: Report