Compiled & translated by: Deep Tide TechFlow

Guest: Eric Trump, American businessman and political activist, second son of Donald Trump

Hosts: Bonnie; David

Podcast source: Bonnie Blockchain

Original Title: [Exclusive] Eric Trump, Son of Donald Trump: My Dad is My Best Friend! He's studied the art of trading since childhood! America's ambition to dominate AI, energy, and Bitcoin! [Bonnie Blockchain]

Broadcast Date: May 12, 2026

Key points summary

In this exclusive interview, Eric Trump, the second son of Donald Trump, shares Trump's cryptocurrency strategy, why he founded American Bitcoin, a Bitcoin mining company, how the US is leading the energy and AI races and why other countries can't catch up, and the story of how the Trump family was betrayed by numerous banks.

He also talked about the business and negotiation skills he learned from his father growing up, how "Trump: The Art of the Deal" influenced his life, and the close and affectionate side of Donald Trump at home.

Summary of key viewpoints

Why the US won the AI, energy, and crypto race

"My father wanted America to win at everything we did. He believed America had to win at energy, win at AI, and win at cryptocurrency."
"He ran on the platform of a 'crypto president.' He believes in cryptocurrency, in Bitcoin, and in digital assets."
"If the United States doesn't do it, Asia will; if the United States doesn't do it, the Middle East will. Therefore, the United States must take the lead."
"The US isn't just energy independent; we're also exporting energy. If Europe wants to challenge AI or cryptocurrency, good luck, because they don't have that kind of energy structure."

Regarding the global value of Bitcoin and the advantage of the US dollar

"Bitcoin's position in many international markets may be even more important than in the United States, the world's largest economy."
"In places with severe inflation, poor banks, bad governments, unstable markets, and rampant corruption, what could be better to hold than Bitcoin?"
"Everyone wants dollars. Nobody wants euros, nobody wants any other currency, they all want dollars."

Mining strategy for American Bitcoin

"American Bitcoin, established 8 months and 3 days ago, already boasts over 90,000 mining machines and a hashrate exceeding 28 EH/s, accounting for approximately 2.5% to 3% of global mining hashrate."
"Our company's sole objective is to increase our Bitcoin holdings; our North Star is to increase the number of Satoshis per share."
"If a company could have invested its money in assets that have grown at an annualized rate of about 70% over the past decade, but instead used it to pay high executive salaries, which would create more shareholder value?"
"We believe in Bitcoin. Unless a catastrophic event occurs, it will be extremely difficult for us to sell Bitcoin."

Regarding the two Bitcoin company races

"This is a race to see who can accumulate the most Bitcoin, and also a race to see who can acquire the most Bitcoin at the lowest cost."
"Michael Saylor is a visionary; he has done an outstanding job in accumulating the most Bitcoin."
"American Bitcoin wants to win another game: who can acquire the most Bitcoin at the lowest cost."
"What other goods or products can be mined at about half their market value? That's what American Bitcoin does every day."

On being abandoned by banks and entering the crypto industry

"We did nothing wrong, yet we were kicked out like dogs by America's largest bank, with 300 accounts closed overnight, all for political reasons."
"This pushed us toward digital assets, onto DeFi, and also brought us together with others who had been abandoned by these banks."
"The enemy of my enemy is my friend. This is exactly what's happening between the Trump family and the crypto industry."
"If you had told me 5, 6, or 7 years ago that I would be so passionate about digital assets, I would have laughed. Nothing makes me love it more now."

Regarding father, childhood and family relationships

"I loved walking with my father on construction sites, watching New York's most impressive buildings slowly rise from steel and concrete."
"He is my best friend in the world, and I am incredibly proud of him, extremely proud."
"He still calls me Honey. I'm 42 years old, and I have gray hairs in my beard, but he still calls me that."

New Federal Reserve Chairman, Energy, Cryptocurrency

Host David: Eric, welcome to the show. Kevin Walsh is considered the next Federal Reserve Chairman. He's a very tech-savvy person with close ties to Silicon Valley. If he officially becomes Fed Chairman, we expect this to happen, and he could become the most tech-savvy Fed Chairman in history. He has previously stated that Bitcoin and AI will become the dominant drivers of the US economy. What do you think this means for the future of Bitcoin and AI?

Eric Trump :

Let me put this in simple terms. My father wanted America to win in everything we did; he believed America had to win in energy, AI, and cryptocurrency. That was his entire platform, and his entire mandate.

My father ran for president based on the idea of a "crypto president." He believed in cryptocurrency, in the ability for money to flow more efficiently, securely, and transparently than ever before, and he believed in the industry, in Bitcoin, and in digital assets in general. Therefore, it's perfectly reasonable that those around him shared the same premise. If someone didn't agree with this, he wouldn't bring them into his inner circle.

If you look at the world, you'll see this is very obvious. Look at the transformation that digital assets are undergoing now, look at tokenization, look at what Bitcoin has already accomplished, and look at the growth of digital assets over the past decade—the explosive power is astonishing.

Then you combine these factors with one more thing: we have a government that supports crypto, and the US probably has the best energy infrastructure in the world. The US has not only achieved energy independence, we also export energy. If Europe wants to challenge AI, good luck; if Europe wants to challenge cryptocurrency, good luck too. They can't, because they don't have the energy infrastructure to support it.

So we will win because we were the first to act. We are also the world's largest economy, and our advantages are very clear. Now we have a government driving this, and we also have the energy resources needed to complete it.

Since my father took office, the policy direction regarding cryptocurrency has undergone a 180-degree shift. During the Biden administration, almost everyone who wanted to improve finance in a better, more efficient, and more modern way was thrown into jail. Now it's different; we're getting a Federal Reserve chairman who is very friendly to the industry, and not just friendly, he truly understands it.

Biden and Kamala Harris can't even spell the word AI. They don't know what they're talking about, and they don't want to understand it. My father, on the other hand, wants to win this race, wants to be the best in the world. By the way, if the US doesn't do it, Asia will; if the US doesn't do it, the Middle East will. So we're leading the way, and that's exactly what the US has to do.

Can the world achieve a win-win situation?

Host Bonnie: Is it possible for everyone to win together?

Eric Trump :

I think so. It's clear that cryptocurrency is digital finance on a global scale. I'm the head of American Bitcoin and its founder. I believe in digital assets.

I would even argue that Bitcoin's position in many international markets is perhaps as important, or even more important, than its position in the United States, despite the US being the world's largest economy. Many parts of the world suffer from hyperinflation, bad banks, bad governments, unstable markets, and rampant corruption. In these places, what could be more suitable than holding Bitcoin? Because no one can confiscate your money in the middle of the night, institutions can't lose your money, and capital markets can't collapse and destroy your resources.

Suddenly, you have global mobility, 24/7 . How? With your iPad or smartphone.

I can offer an opinion: the global community is actually the biggest beneficiary of this, because it has created financial independence and financial freedom around the world, and it has also connected global finance in an unprecedented way.

For example, if I wanted to send money to Morocco right now, how would I do it? If I had to use the SWIFT wire transfer system, I would first have to find a bank in Morocco, and who would I be communicating with? Would we speak the same language? What would the currency exchange rate be? What cryptocurrency does is eliminate all of that. It allows funds to be transferred instantly worldwide.

So you ask if it will be global? It is 100% global. The whole concept of cryptocurrencies and digital assets is to make them global. Who will be the biggest beneficiary? The United States. Because everyone wants dollars. Nobody wants euros, nobody wants any other currency, they want dollars . So I think it is indeed a global initiative, but the United States will be the biggest beneficiary.

Why is Bitcoin mining being conducted in the United States?

Host Bonnie: Let's talk about American Bitcoin. What's driving Bitcoin miners to the US? Bitcoin miners need jurisdictions with low energy costs and may also need environments with lower capital gains taxes. How can we make mining in the US more profitable for the miners themselves?

Eric Trump :

First, the US has many tax policies that support this. For example, there's bonus depreciation, which allows you to deduct capital investments, and mining equipment, facilities, and energy infrastructure are clearly capital-intensive. So the US does have some advantages. Like other industries in the US, if you're willing to invest capital in something—investing in infrastructure in this country—you'll see many related tax savings.

Secondly, we have the best energy in the world. Go to the UK and try to do this; you have no chance. Their economy produces far less energy than it consumes. They can't win the AI race, they can't win the crypto race, and they can't mine Bitcoin. The US has some of the lowest energy costs in the world. And look at Texas—the vast majority of American Bitcoin mining takes place there—where energy prices are among the best in the world. So we can be very competitive.

American Bitcoin went public 8 months and 3 days ago , and we now have well over 7,000 Bitcoins . We built this company from scratch and now have over 90,000 mining machines with a hash rate exceeding 28 EH/s, representing approximately 2.5% to 3% of the global mining total. This is a truly remarkable story, considering the company was only founded 8 months and 3 days ago.

We can accomplish this on American soil, using American energy. The United States must become the most dominant country in all global crypto-related matters, all digital markets, and all digital finance-related matters. This is a key objective of mine, and it's the direction I'm striving towards very, very quickly.

The Trump family's "The Art of the Deal"

Host Bonnie: I really love "The Art of the Deal" and even made a video about it. How has it influenced your views on trading and business?

Eric Trump :

I've lived my entire life within the framework of "The Art of the Deal," you could say I was born under its influence. I was very, very young when that book was published. In many ways, it has been my guiding principle throughout my life.

I run the Trump Organization every single day. Before my father entered politics, I worked with him almost every single day, every single second. He is my best friend in the world. Those experiences and lessons have been deeply instilled in us, such as negotiating everything and operating in a very streamlined way.

We do exactly the same at American Bitcoin. We negotiate everything and operate with an extremely lean approach. We likely have the lowest SG&A costs in the entire industry, a significant difference. We can't even find competitors with a cost structure and efficiency on the same level as us.

American Bitcoin Strategy

Eric Trump :

We do this because we don't pay exorbitant salaries to CEOs who are paid in cash. Ultimately, what do we want to build? We want to build our own Bitcoin holdings.

If you were to pay hundreds of millions of dollars to company executives, money that could have been invested in an asset that has grown by about 70% annually over the past decade, which do you think would create more value for shareholders? Executive compensation, or actually accumulating Bitcoin, holding Bitcoin, and letting it continue to grow and appreciate year after year?

Host David: How do you decide how much of the mined Bitcoin to sell on the market?

Eric Trump :

We strive to hold every single Bitcoin. Our sole objective, across the entire company, is to increase our Bitcoin holdings. Our North Star is to increase the number of Satoshis per share.

Never sell Bitcoin?

Host David: Michael Saylor just mentioned that he might sell some Bitcoin to finance dividends. What circumstances would make you decide to sell some Bitcoin? If someone asked you if you could sell some Bitcoin, what would be your reasons?

Eric Trump :

That would be a catastrophic situation. We are American Bitcoin, and we believe in Bitcoin . No matter what happens, it will be extremely difficult for us to sell the Bitcoin in our treasury reserves; our sole objective as a company is to expand those reserves.

Look at what's happening in the global ecosystem. You can see what retail investors are doing, and you can see what institutional investors are doing. You see the largest banks in the US accumulating Bitcoin, and Fortune 500 companies adding Bitcoin to their balance sheets in unprecedented ways. You also see market structure legislation, and countries around the world beginning to follow the US in embracing cryptocurrencies in new ways.

Cryptocurrencies are being adopted on a massive scale, especially Bitcoin, which is clearly winning the race. This trend is unlike anything we've seen before. Since we consider it the perfect financial instrument, why get rid of this asset? So, our whole premise is to hoard as much as possible.

Two races between Bitcoin companies

Eric Trump :

We see two competitions here. Michael is a good friend of mine, and I know you've interviewed him before. I've known Michael for 25 years, long before he joined MicroStrategy.

The first competition was about who could accumulate the most Bitcoin. Michael did an incredible job in that; he was incredibly visionary. The second competition was about who could acquire the most Bitcoin at the lowest cost. And I can tell you, at American Bitcoin, we want to win that competition; we want to be the ones who acquire the most Bitcoin at the lowest cost.

Can you grow $1 worth of wheat with a cost of 50 cents? Can you grow $1 worth of corn? These claims are obviously exaggerated, but clearly you can't; the gap is huge. Can you mine $1 worth of gold with a cost of 50 cents? What other commodities or products can be mined at roughly half their market value?

This is what American Bitcoin does every day. It's a remarkable business model, built on our infrastructure, low-cost structure, and energy resources. We are incredibly proud of how far the company has come in just eight months.

The enemy of my enemy is my friend.

Host Bonnie: Why is Bitcoin important to you personally?

Eric Trump :

Digital assets are important to me because we were once abandoned by banks. Things are brutal in American politics, as are politics in every country—it's true where you are, it's true in Canada, it's true everywhere. But we were once abandoned by the biggest banks in America, and we did nothing wrong.

We owned the best hotels, the best residential buildings, the best commercial buildings, and the best real estate in the world. Yet we were kicked out by many of the biggest banks, such as JPMorgan and Capital One. We were driven out like dogs , 300 accounts were closed overnight, and we did nothing wrong; it was all because of politics.

This has propelled us toward digital assets and the DeFi world, but it has also brought us into contact with others who have been similarly abandoned by these same people. As the old saying goes, the enemy of my enemy is my friend . This is exactly what happened between the Trump family and the crypto industry.

Then we met some of the smartest people we'd ever met, and we started embracing the industry, starting to understand it. And then it made sense to all of us, to you, to you all, and to all of us. I may have become one of the most ardent supporters of cryptocurrency globally, and that comes from someone who has spent their life building hard assets, like the kind of place we are right now.

If you had told me 5, 6, or 7 years ago that I would be so passionate about digital assets, I would have laughed. I really would have laughed. But now, nothing makes me love it more. I love what I do at American Bitcoin, I love what we do at World Liberty Financial, I love what we do with stablecoins, and I love what we do throughout the entire ecosystem. I am incredibly proud of it all.

My most unforgettable childhood memories with my father

Host Bonnie: What is your favorite childhood memory related to your father?

Eric Trump :

I really enjoyed going to construction sites with him, and walking with him there. As a child, I had the special memory of watching some of New York's most impressive buildings slowly rise, seeing the steel structures, concrete, and main structures take shape.

Those New York union contractors were tough, but they were also among the best builders in the world. Those memories are wonderful. And when I was little, I'd build Lego skyscrapers on the floor of my father's office while he was in a very important meeting. It was amazing to be there, just an observer on the wall.

He is an amazing person. He is doing an outstanding job for this country. He is my best friend in the world, and I am incredibly proud of him, very, very proud.

Does Trump say "I love you" at home?

Host Bonnie: Do you tell each other "I love you"?

Eric Trump :

He often says that he still calls me Honey . He'll say, "Honey, Honey." I'm a 42-year-old man now, with gray hairs in my beard, and he still calls me Honey. He even jokes about it. He says, "My children, no matter how old they are, no matter if they have their own children or are married, they will always be my Honey."

He's a fantastic person. I'm proud of everything he's achieved. I'm also proud to run our company. And of course, I'm proud to be one of the leaders in the digital asset race. Hopefully, future generations will remember how much we've driven this asset forward.

Arizona State Retirement Fund holds $10 million worth of Strategy stock.

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