MIAMI – Eric Trump, son of President Donald Trump and co-founder of American Bitcoin (ABTC), said that bitcoin has reached a strong influx of traditional financial giants, including Bank of America Corp.’s Merrill division, Charles Schwab Corp. and JPMorgan Chase & Co.
“JPMorgan, who was shitting on bitcoin 18 months ago, saying it was a joke asset,” Trump said Wednesday at Consensus Miami 2026. “It’s really interesting: They’re now allowing people to take mortgages on their bitcoin holdings at JPMorgan, this happened over an 18-month period, my friends.”
JPMorgan CEO Jamie Dimon had long been critical of cryptocurrencies, although his bank has since been among those that have embraced blockchain technology and associated advances, including the tokenization of assets.
Trump, whose father has pursued aggressive pro-cryptocurrency policies from the White House, said the cryptocurrency industry has “broken the banks” that once shunned the Trump family, turning away their business.
“All financial institutions realize that they have lost and can no longer fight back,” he said. “And then instead of fighting the current, you know what they’re doing, they’re swimming with it for the first time.”
American Bitcoin, a mining company that is ranked as the 16th largest public holder of bitcoins, is mining bitcoins for 50 cents on the dollar, said Trump, the company’s chief strategy officer. He said the company is trying to establish the cheapest bitcoin acquisition in the sector. And he said bitcoin is “seeing a new pair” in the asset.
“It really has become one of the greatest stores of value in history,” he said, repeating his frequent claim that the asset will eventually surpass $1 million.
