Eric Trump is turning heads in the crypto world after saying the “Bitcoin floodgates are just starting to open.” He made the bold statement on Bloomberg this week, sitting alongside Hut 8 CEO Asher Genoot to mark the public debut of American Bitcoin, a new company focused on mining and long-term BTC accumulation.
American Bitcoin isn’t just another mining business chasing quick gains. The company has already stacked up more than 2,000 BTC in just a few months and has its eyes set on becoming the premier Bitcoin company in the world.
Eric Trump Says #Bitcoin Floodgates Are Just Starting to Open.
— TheCryptoBasic (@thecryptobasic) September 4, 2025
Eric Trump has said the Bitcoin “floodgates are just starting to open” as American Bitcoin launches with a strategy on large-scale mining and long-term accumulation.
This came during his appearance on Bloomberg on… pic.twitter.com/OlY4mh2Y5O
What sets it apart is the strategy. Instead of the usual “grow at all costs” approach, the team says they’ll only expand mining when it’s profitable and raise capital for purchases when the timing makes sense.
Eric Trump explained why he’s so confident in the model. Their mining setup, powered by infrastructure from Hut 8, lets them produce Bitcoin at roughly half the market cost. He called that an “unbelievable advantage” that gives them room to build their treasury at a huge discount.
Hut 8 is more than just a partner, it’s both a major shareholder and the backbone of American Bitcoin’s mining operations. Genoot also highlighted that their power comes directly from a Texas wind farm, helping them mine more efficiently while keeping costs low. It’s a combination that could put them ahead of rivals in both scale and sustainability.
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Why Trump Is So Bullish
For Eric Trump, this is just the beginning. He called Bitcoin “the hot asset of our time” and pointed out that demand is now coming not only from retail investors, but also from Fortune 500 companies, sovereign wealth funds, and even U.S. states like Texas and Wyoming.
In his words, adoption is still in its early days. “The floodgates are just starting to open,” he said, adding that he sees Bitcoin cementing itself as a global store of value.
Like many in the industry, Trump believes BTC’s price long-term potential is enormous, even suggesting the price could reach $1 million in the years ahead.
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