“Send $500 Million On Sunday Night, Virtually Tax Free”

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Eric Trump doubled its cryptocurrency position, promoting Bitcoin (CRYPTO: BTC) as a fix for the inefficiencies of traditional finance and calls it “digital gold” and “one of the greatest stores of value ever.”

What happened: Speaking on Fox Business on Thursday, Eric Trump accused the traditional banking system of being “outdated and slow,” citing that Fridays after 5 p.m. transfers stop and mortgage approvals take months.

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He contrasts this with Bitcoin’s ability to enable instant, low-cost global transfers, saying: “When you can transfer $500 million in Bitcoin from iPhone to iPhone at 11 o’clock on a Sunday night with virtually no fees, that scares the big financial institutions.

Trump said cryptocurrency would replace legacy systems by unlocking speed, transparency and universal accessibility.

Why it matters: According to Santimento, trader sentiment in major cryptocurrencies is cooling, a common telltale sign for naysayers:

• Bitcoin: Neutral, evenly split between bulls and bears.

• Ethereum: Up a bit, but enthusiasm is fading.

• XRP: Very Bearish Marking One of the Scariest 2025 stages.

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Historically, this kind of fear precedes accumulation phases, when the smart money re-enters the market.

September In the interview, Eric Trump also claimed that the cryptocurrency industry is developing faster than the early internet, predicting that Bitcoin could reach 1 million. USD, and called the fourth quarter “incredible for many reasons.”

Despite the optimism, Bitcoin recently fell below $100,000 as markets digested the end of the US government shutdown.

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The article Eric Trump Praises Bitcoin: ‘Send $500 Million Sunday Night Virtually Tax Free’ originally appeared on Benzinga.com