Trump specifically pointed out a 35% gain since his post and told followers to “embrace volatility.” Despite a steep drop after his endorsement, ETH has recovered and is now up around 12% year-to-date.Overall, Trump family crypto ventures–including $2 billion in BTC holdings by Trump Media and a $220M Bitcoin fund by Eric and Donald Jr.–have reportedly boosted Donald Trump’s fortune by over $620M. Andrew Keys, of The Ether Machine drew the attention to Ethereum by claiming that ETH outperformed Bitcoin over time. The Ether Machine’s Andrew Keys also forecasted a rise of up to $8000 by 2026.
Eric Trump Claps back
Eric Trump celebrated Ethereum’s resurgence on social media Monday. The cryptocurrency has risen above $3,800. He responded to those who ridiculed his support of the cryptocurrency.
Ted Pillows was the main target of his comments. He is a crypto exchange partner who made fun of Trump back in April, after Ethereum suffered a sharp drop between February and March. Eric’s comments were mainly directed at Ted Pillows, a partner at crypto exchange OKX, who ridiculed Trump in April after Ethereum experienced a steep drop in February and March.
Eric Trump is not wrong in his claim. On Feb. 4, ETH traded at around $2,877 when Trump announced his support for the cryptocurrency. On Monday however, ETH was trading at $3,732, a gain that hasn’t been realized by those who have followed Trump. It wasn’t an easy ride.
Ethereum fell by nearly 49% after the post, before recovering. Ethereum has been up 12% this year despite the fluctuations.
Analyst Gert van lagen believes Ethereum has more to offer in the future. Recently, he said that the current structure of ETH’s market closely resembles that in 1980 when Dow Jones Industrial Average was at its peak. On the basis of this comparison, he predicted a potential climb up to $8000 by 2026. It could be that cryptocurrency is still in a bullish long-term trend.
Trump Media and Technology Group, which operates the Truth Social platform, recently revealed that it holds $2 billion in Bitcoin and bitcoin-related securities. Trump Media and Technology Group (which operates Truth Social) revealed recently that it has $2 billion worth of Bitcoin and Bitcoin related securities. Donald Trump Jr. and Eric Trump are listed on the founders list of American Bitcoin. The company raised $220 millions from investors for Bitcoin and mining gear.
Press release by TMTG
World Liberty Financial is also founded by all three Trumps sons, and President Donald Trump serves as cofounder emeritus. These crypto-related investments reportedly increased Trump’s fortune by $620 million within a matter of months.
Ethereum Outshines Bitcoin
Andrew Keys is the co-founder of The Ether Machine and its chairman. He believes that investors who invested in ETH during the last decade would have outperformed Bitcoin owners.
Keys claimed on CNBC Squawk Box that Ethereum could have made investors up to 50 times richer than Bitcoin. He later changed the number in a post on X. The Ether Machine plans to be listed and will become the biggest institutional Ethereum investment vehicle. It is launching more than 400,000 Ethereum, which are currently valued at $1.5 billion. The ETH held by existing companies like Bitmine or SharpLink would be surpassed.
Keys admitted that he did not have any Bitcoin and described himself as “the Ethereum guy”. Keys even compared Ethereum and Bitcoin, citing his faith in Ethereum’s innovation and utility. The majority of stablecoins have been deployed on Ethereum’s network, he said. He likened Ethereum’s dominance of tokenization with Google’s in web searches, since 90% of all tokenized assets are on Ethereum.
Some critics point out that, despite Keys’ optimistic outlook and Ethereum’s impressive gains since its launch, comparing Ethereum with Bitcoin is unfair because of their differing timelines. Bitcoin started trading in 2010, and since then has gained more than 234 million per cent. Ethereum was launched in 2015 and is up by over 236,000%. Ethereum’s all-time peak was in 2021 and it is down by 24%. Bitcoin, on the other hand, recently reached a new high in July.
The price of ETH over the past ten years (CoinMarketCap )
Ether Machine will be going public through a merger between Dynamix Corporation and a special-purpose acquisition company. The new firm, which will be listed on Nasdaq, plans to offer large institutional exposure to Ethereum. According to BTSE’s COO Jeff Mei investors have already shifted heavily to Ethereum and are fueling its recent rise.
