Eric Trump, the executive vice president of The Trump Organization, is at it again, advising investors to accumulate Bitcoin BTC/USD and Ethereum ETH/USD amid the market's pullback.
What happened: Eric urged everyone to "₿uy the dips," like he did back in February. The advice comes in the wake of a sharp contraction that has seen Bitcoin and Ethereum fall 3.56% and 8.81%, respectively, over the last week.
Why It Matters: Curiously, the two coins fell significantly when Trump last posted the message on X. While Bitcoin dropped as much as 16% in the 45 days following the suggestion, Ether lost more than 41% of its value.
Of course, this had a lot to do with his father, President Donald Trump, whose sweeping “Liberation Day” tariffs sent the broader risk-on markets into a tailspin.
See Also: Happy 10th Birthday Ethereum! Why Its Strongest July Ever Could Be Just The Beginning
But Trump had the last laugh following the market's resurgence. Bitcoin went on to cross $123,000 in a record-breaking run and Ether nearly broke $4,000.
He reposted the February advice after the market began to rally, as if to show that he had been vindicated.
Trump has been a strong backer of Bitcoin and Ether. World Liberty Financial, a Trump family-backed cryptocurrency venture, where he is listed as a co-founder, has seen its ETH investment balloon to nearly $262 million, leading to a paper profit of $6.65 million.
Regarding Bitcoin, he stated in a May conference that the top cryptocurrency would surpass $170,000.
Price Action: At the time of writing, BTC was exchanging hands at $114,440.16, up 0.71% in the last 24 hours, according to data from Benzinga Pro. ETH was trading at $3,544, up 2.51%.
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