Eric Trump Advises To Buy Bitcoin, Ethereum Dips — Last Time He Said This, The Two Coins Fell To Their Yearly Lows In Barely 45 Days
Eric Trump, the executive vice president of The Trump Organization, is at it again, advising investors to accumulate Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) amid the market's pullback.
What happened: Eric urged everyone to "₿uy the dips," like he did back in February. The advice comes in the wake of a sharp contraction that has seen Bitcoin and Ethereum fall 3.56% and 8.81%, respectively, over the last week.
Why It Matters: Curiously, the two coins fell significantly when Trump last posted the message on X. While Bitcoin dropped as much as 16% in the 45 days following the suggestion, Ether lost more than 41% of its value.
Of course, this had a lot to do with his father, President Donald Trump, whose sweeping “Liberation Day” tariffs sent the broader risk-on markets into a tailspin.
See Also: Happy 10th Birthday Ethereum! Why Its Strongest July Ever Could Be Just The Beginning
But Trump had the last laugh following the market's resurgence. Bitcoin went on to cross $123,000 in a record-breaking run and Ether nearly broke $4,000.
He reposted the February advice after the market began to rally, as if to show that he had been vindicated.
Trump has been a strong backer of Bitcoin and Ether. World Liberty Financial, a Trump family-backed cryptocurrency venture, where he is listed as a co-founder, has seen its ETH investment balloon to nearly $262 million, leading to a paper profit of $6.65 million.
Regarding Bitcoin, he stated in a May conference that the top cryptocurrency would surpass $170,000.
Price Action: At the time of writing, BTC was exchanging hands at $114,440.16, up 0.71% in the last 24 hours, according to data from Benzinga Pro. ETH was trading at $3,544, up 2.51%.
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Posted-In: Cryptocurrency News
