#BTCVolatility #BTCHashratePeak $BTC
The recent decline in the price of Bitcoin presents a great opportunity, as Eric described this moment as a "great time to buy Bitcoin" and classified the asset as "the greatest of our era." This opinion comes at a time when Bitcoin is facing volatility, retreating below $100,000. This recent movement for Eric is just part of a cycle, noting that Bitcoin stood near $16,000 three years ago and around $36,500 two years ago. The asset rose above $120,000 earlier this year before prices fell. He clarified that the current value still reflects long-term expansion. He also noted ETF inflows and broader institutional participation as signs of deepening adoption.
American Bitcoin's results confirm profitability in mining.
His statements came after American Bitcoin announced its first quarterly profits as a public company, which showed early profitability and highlighted a mining model built around low-cost American energy.
American Bitcoin recorded a net profit of 3.5 million dollars in the third quarter. This marks the company's first earnings release since its debut on the Nasdaq. He said the operation mines bitcoin at about half the market price, supported by large-scale sites in West Texas. One facility now contributes over 2% of the global bitcoin mining output. Eric explained that the company evaluates performance based on bitcoin holdings per share.
The focus is on expanding reserves compared to existing stocks. He said this approach guides production decisions and reduces reliance on short-term price behavior. The third-quarter results included a sharp rise in revenue and a gross profit margin of 56%.
Traditional banks are pushing the family towards cryptocurrencies and the establishment of the WLFI platform.
Eric touched on his family's previous struggles with major financial institutions. He explained that Capital One, JPMorgan, and Bank of America closed nearly 400 accounts linked to hotels, restaurants, residential apartments, and golf clubs managed by the family.
He said that the closures happened "for no reason." Eric attributed the actions to political affiliation, referencing his father's slogan "Make America Great Again." He described the experience as leading to the complete removal of the family from the banking system. Those events, according to Eric, pushed his family towards cryptocurrencies.
He linked this experience to the founding of World Liberty Financial, a stablecoin project he helped launch. The company's product is a stablecoin pegged to the US dollar. Eric described the platform as the fastest-growing stablecoin on Earth. He added that stablecoins will bring a lot of dollars back to the country. He also stated that stablecoins saved the dollar. He explained that stablecoins allow for transfers to be made very quickly without banking time delays. He added that the blockchain system removes those multiple layers present in wire transfers. He said that the design reduces friction and enhances accessibility.