Eric Trump Cheers Bitcoin Surge, Calls Digital Assets "The Future," ABTC Shares Jump 13%

Eric Trump, co-founder and chief strategy officer of American Bitcoin Corp., expressed excitement over bitcoin's sharp rally on Wednesday.

Trump Cheers Crypto Rebound

Bitcoin rose over 7%, nearing a break above $70,000, reaching its highest level since early June. The coin's trading volume surged 174% over the past 24 hours, indicating massive buying pressure.

The rally also triggered the largest single-day short liquidation event in bitcoin's history, with approximately $1.42 billion liquidated over the past 24 hours.

"Exciting to see... digital assets are the future," Trump reacted to the development.

Exciting to see... digital assets are the future... @ABTC

— Eric Trump August 19, 2026

Eric Trump's Company Rides the Wave

American Bitcoin currently holds 8,300 BTC, valued at $573 million, making it the 16th largest corporate BTC holder. The stock closed up 13% during Wednesday's regular trading session.

World Liberty Financial, another crypto venture backed by the Trump family, where Eric Trump is listed as a co-founder, rose 2% over the past 24 hours with trading volume surging 101%.

Asset 24-Hour Change Price

American Bitcoin +13.83% $8.22

World Liberty Financial +2.18% $0.06150

Drivers of Wednesday's Crypto Super Rally

Multiple factors fueled the crypto market surge.

Optimism over the passage of the CLARITY Act boosted various coins and crypto-related stocks, with Senate Banking Committee Chairman Tim Scott stating the legislation has a "pretty good chance" of moving forward in September.

Additionally, President Trump hosted a crypto summit at the White House, attended by CFTC Chairman Michael Selig and SEC Chairman Paul Atkins. He reiterated his commitment to maintaining U.S. leadership in bitcoin, cryptocurrency, and prediction markets.

Macro momentum provided extra fuel, as the Treasury announced it would double its long-term bond buybacks, leading to lower Treasury yields and boosting investor appetite for risk assets.

Price action: At the time of writing, BTC was trading at $69,188, up 7.58% over the past 24 hours, while ABTC stock showed weak momentum across short, medium, and long-term timeframes according to Edge stock rankings.