On August 20, 2025, Eric Trump, co-founder and chief strategy officer of American Bitcoin Corp., hinted in an interview that multiple countries are actively mining and buying Bitcoin, signaling the start of a global “race” to accumulate the cryptocurrency. His comments, amplified by posts on X proclaiming “The race is on,” suggest that nation-states are increasingly viewing Bitcoin as a strategic asset, potentially competing to build reserves. This statement comes as Bitcoin trades at approximately $113,846, amid a bullish market driven by institutional adoption and regulatory tailwinds.
Eric Trump’s remarks align with his family’s growing involvement in crypto and reflect a broader trend of nations exploring Bitcoin as a reserve asset. Below, we dive into the details of his statement, the context of global Bitcoin accumulation, and the implications for the cryptocurrency market.
Eric Trump’s Statement: A Global Bitcoin Race
In the interview, conducted at a crypto-focused event, Eric Trump discussed the ambitions of American Bitcoin Corp., a mining venture he co-founded with Donald Trump Jr. and Hut 8 Corp. He hinted at a broader global trend, stating, “There are two races for Bitcoin: buying and mining, and countries are getting in on both.” He emphasized that nations are quietly accumulating Bitcoin through mining operations and direct purchases, positioning it as a strategic move to bolster economic sovereignty.
Key points from his remarks:
- Global Competition: Trump suggested that countries are racing to mine and buy Bitcoin to secure a stake in its fixed 21-million-coin supply, especially as institutional and corporate adoption surges.
- American Bitcoin’s Role: He framed his company as a leader in this race, aiming to mine Bitcoin at $37,000-$38,000 per coin—far below the current market price—to build a significant reserve.
- U.S. Leadership: Trump echoed his father’s vision of the U.S. as the “crypto capital of the world,” urging America to dominate Bitcoin mining and accumulation to counter other nations’ efforts.
His comments build on American Bitcoin’s goal to become the “world’s largest, most efficient pure-play Bitcoin miner” while holding a strategic Bitcoin reserve, as outlined in its March 2025 launch announcement.
Evidence of Countries Mining and Buying Bitcoin
Eric Trump’s hint aligns with documented global activities:
- Known Bitcoin Miners:
- El Salvador: Since adopting Bitcoin as legal tender in 2021, El Salvador has mined over 474 BTC using geothermal energy from the Tecapa volcano, holding a total of 5,921 BTC as of August 2025.
- Bhutan: The kingdom has been mining Bitcoin since 2019, with state-owned Druk Holdings operating facilities powered by hydroelectricity, amassing 13,000 BTC valued at $1.5 billion.
- Kazakhstan: A hub for Bitcoin mining since China’s 2021 crackdown, Kazakhstan accounts for 4% of global hashrate, with state-backed operations contributing to its reserves.
- Indonesia and Costa Rica: Posts on X from 2023 noted these countries mining Bitcoin, though specific reserve sizes remain unconfirmed.
- Countries Exploring Reserves:
- Brazil: On August 20, 2025, Brazil held a hearing on Bill 4501/2024, proposing a $17.2 billion to $19 billion Bitcoin reserve, diversifying its $343.95 billion foreign reserves.
- Papua New Guinea: Industry leaders met with officials in August 2025 to explore a strategic Bitcoin reserve, signaling early-stage interest.
- Montenegro: A former justice minister proposed issuing €500 million in bonds to create a Bitcoin reserve, as reported on X in August 2025.
- U.S.: Senator Cynthia Lummis’s BITCOIN Act and President Trump’s executive order for a Strategic Bitcoin Reserve, leveraging 200,000+ BTC from seizures, indicate U.S. interest.
These activities suggest a global race, as Trump hinted, with nations leveraging mining (using excess energy) and direct purchases to build Bitcoin reserves, especially as Bitcoin’s price hovers near $113,846 and its supply is constrained post-2024 halving.
Context and Market Implications
Eric Trump’s comments come amid a bullish crypto market:
- Institutional Adoption: Pension funds like the New York State Common Retirement Fund (143% Bitcoin exposure increase) and firms like Goldman Sachs ($1.558 billion in ETF holdings) are driving demand.
- Regulatory Progress: The U.S. Federal Reserve’s framework for banks to offer crypto services and the Digital Asset Market Clarity Act’s expected 2025 passage reduce barriers.
- Global Trends: Buenos Aires accepting crypto for taxes and Brazil’s reserve hearing highlight growing governmental acceptance.
If countries accumulate significant Bitcoin holdings, it could:
- Drive Prices: Adding billions in demand against a 450-coin daily issuance could push Bitcoin toward forecasts like Brian Armstrong’s $1 million by 2030.
- Enhance Legitimacy: Sovereign adoption would cement Bitcoin’s status as a reserve asset, rivaling gold’s $16 trillion market cap.
- Increase Competition: Nations with energy advantages (e.g., Bhutan’s hydropower) could outpace others in mining, while purchases via exchanges like Coinbase intensify demand.
However, risks remain, including regulatory scrutiny, volatility, and geopolitical tensions affecting mining operations.
Implications for Investors
Eric Trump’s hint offers key insights for crypto investors:
- Bullish Signal: Sovereign Bitcoin accumulation could drive significant price appreciation, supporting long-term forecasts.
- Volatility Risks: Short-term price swings are possible, especially with macroeconomic events like the FOMC minutes released on August 20, 2025.
- Secure Strategies: Use regulated platforms like Coinbase, Kraken, or ETFs like BlackRock’s IBIT, and store assets in hardware wallets.
- Monitor Global Moves: Track developments in Brazil, the U.S., and other nations to gauge the pace of the “race.”
Final Thoughts: The Global Bitcoin Race Is On
Eric Trump’s hint that countries are mining and buying Bitcoin underscores a transformative shift in how nation-states view cryptocurrency. As nations like Brazil, El Salvador, and Bhutan actively build Bitcoin reserves, the “race” to secure a stake in its fixed supply is intensifying. With American Bitcoin Corp. aiming to lead in mining and U.S. regulatory progress accelerating, the stage is set for significant capital inflows, as predicted by industry leaders like Jesse Powell and Goldman Sachs.
As the crypto community rallies behind this global race, investors should stay vigilant, monitoring sovereign adoption and market developments. Stay tuned for updates on Bitcoin price movements, national reserve strategies, and more crypto insights as this historic story unfolds.
Disclaimer: This article is for informational purposes only and not financial advice. Cryptocurrency investments carry risks.
Mining ⛏️!