Zinger Key Points
- After advising to "buy the dips" in crypto in late February, Eric Trump now suggests holding for the long term.
- Peter Schiff warns that Ethereum still has a long way to fall, noting ETH ETFs are already at record lows.
- Our government trade tracker caught Pelosi’s 169% AI winner. Discover how to track all 535 Congress member stock trades today.
Eric Trump's recent comments on the strategic crypto reserve announcement have sparked mixed reactions, with some praising him while others criticize the Trump family’s involvement in the industry.
What Happened: In an X post on Monday, Eric Trump expressed gratitude after popular crypto trader AltcoinGordon credited his late-February “buy the dips” advice when Bitcoin BTC/USD dropped below $90,000 on Feb. 25.
Gordon tweeted, "Never fade Eric Trump," to which Trump responded by saying he's happy he could help and recommends investors to hold for the long term.
His post triggered a variety of reactions from the crypto community.
Michael Saylor echoed the sentiment, simply posting "HODL," while industry expert Quinten Francois warned to not bet against the Trump family.
Influencer Ted Pillows questioned if Trump was suggesting holding even through losses and jokingly proposed a Friday announcement to trigger a 500% rally.
Economist Peter Schiff slammed Trump's so-called “genius” Sunday announcement, arguing there was no formal agreement on a strategic reserve.
He called it a pump and dump, suggesting the timing was intentional to maximize impact when trading volume was thin.
What's Next: In another X post, Schiff specifically called out Ethereum's ETH/USD performance following Trump's so-called "Truth Social Sunday Ethereum pump."
He pointed out that ETH ETFs are at record lows, down 40% from their launch about eight months ago and 49% below their December 2023 highs.
Schiff predicted that Ethereum still has significant downside ahead, warning investors of further declines.
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