MIAMI — Eric Trump, son of President Donald Trump and co-founder of American Bitcoin (ABTC), said Bitcoin has reached a large influx of traditional financial giants, including the Merrill division of Bank of America Corp., Charles Schwab Corp. and JPMorgan Chase & Co.
“JPMorgan, which was shitting all over Bitcoin 18 months ago, saying it was a joke,” Trump said Wednesday at Consensus Miami 2026. “It’s really interesting – now they’re allowing people to take out home mortgages against their Bitcoin holdings at JPMorgan, that happened over an 18-month period, my friends.”
JPMorgan CEO Jamie Dimon has long been a critic of cryptocurrencies, even though his bank has since become one of those to embrace blockchain technology and related advances, including asset tokenization.
Trump, whose father led an aggressive pro-crypto policy from the White House, said the crypto industry had “broken the banks” that once turned down the Trump family, rejecting their business.
“Financial institutions all realize they have lost and they can no longer fight back,” he said. “And so instead of fighting the tide, you know what they do, they swim with it for the first time.”
American Bitcoin, a mining company ranked as the 16th largest public holder of bitcoin, mines bitcoin at 50 cents on the dollar, said Trump, the company’s chief strategy officer. He said the company was trying to establish the cheapest bitcoin acquisition in the industry. And he said Bitcoin “sees a new couple” in the asset.
“It has truly become one of the greatest stores of value of all time,” he said, repeating his frequent claims that the asset would eventually reach $1 million.
