What Eric Trump, Michael Saylor, and others are saying

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I didn’t expect the hardcore crypto bulls to roll up to Yahoo Finance Invest this week and say they are terrified about the sharp pullback in prices.

If I’ve learned anything, it’s that when you become a true believer in a new technology, it’s damn near impossible to appreciate a contrary thesis or warning signs.

To say the backdrop for crypto has been way different under the Trump administration would be a major understatement.

President Trump has loosened crypto regulations and signed pro-crypto legislation such as the GENIUS Act. The more favorable environment has pushed major financial institutions to begin embracing crypto as a means to appease clients and partake in the crypto rally.

The crypto faithful are looking at the signing of the Clarity Act in 2026 as the next major upside catalyst. Bitcoin prices touched new records just a few months ago.

The Trump family has developed deep ties to the digital asset space. Besides World Liberty Financial, Eric Trump has co-founded American Bitcoin (ABTC) alongside his brother, Donald Trump Jr. The business aims to accumulate bitcoin mined using technology from Hut 8 Corp (HUT).

American Bitcoin debuted on the Nasdaq in September and now sports a $4.5 billion market cap.

However, crypto is entering the final months of 2025 on a downbeat note. No calls yet of a crypto winter, in part because of growing institutional adoption, but fears of more near-term price pressure are percolating. Bitcoin prices alone have declined by 15% in the past month.

Here’s what a few of the industry power players told me at Invest. Again, I didn’t expect them to voice concern about the industry. Hearing their perspective is important, though, given how entrenched they’re in the crypto world.

“I laugh honestly [at questions on the recent pullback]. Like, I literally laugh because it’s almost like not a serious question. Bitcoin exactly two years ago today was at $36,500. And what are we sitting at? You know, $102,000, $103,000, $105,000. We’re dancing in that region. It was well over $120,000. So you had what, almost a 200% return in a two-year period of time.

And then people talk about the volatility of bitcoin. Hey, I’ll take that volatility. Give me more volatility if I can get more return. And I think that’s how crypto people are wired. If you can’t handle volatility, stay out of cryptocurrency and don’t bother. But you know, go into Treasurys where you’re going to have zero volatility and you’re going to click away at you know 3% returns … Embrace volatility. Embrace the future. It’s clearly happening. It’s not just happening in the United States. It’s happening globally everywhere.”

“We’re in the digital gold rush, and 2035 is the .99 year. That means that 99% of all bitcoin will have been mined in the year 2035. If you want bitcoin, you need to get it between now and then. Because the last 1% of bitcoin comes out over 100 years. There’s no doubt in my mind, bitcoin will be a larger asset class than gold by the year 2035.”

“I think what’s going to happen is outside of the US, the dominant way to invest or get exposure to US assets and later on, global assets is going to be through tokenization and crypto technology. Like you see with our EU offering. And then the US eventually will upgrade on the back end. But I think that it’ll likely be a little bit behind just because we already have that existing infrastructure that’s serving customers well. And I think that if you look out ten years, we’d like to build a company where more than half of our revenue is ex-US and sliced another way, more than half of our revenue is institutional rather than retail.

So I think there’s a ton of growth left in crypto. And also, as it continues on an infrastructure layer with things like decentralized exchanges, perpetual futures, tokenization, as it continues to develop and mature, you’re going to start seeing crypto eat the traditional financial system and continue to become integrated at a base layer.”

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Brian Sozzi is Yahoo Finance’s Executive Editor and a member of Yahoo Finance’s editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com.

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