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Investors who bought ETH when Eric Trump made his Feb. 4 post are sitting on an unrealized gain of 30% despite a drawdown earlier this year.
News
US President Donald Trump’s son Eric Trump took to X on Monday to gloat as Ether () surpassed $3,800 amid a month-long rally.
“How am I doing now @TedPillows?” Trump on Monday, replying to a three-month-old X post from Ted Pillows, a partner at crypto exchange OKX who mocked Trump in April after the price of ETH fell in February and March.
“Up 35% in 5 months, Pal. Embrace volatility,” he another user who also mocked him over Ether’s market dip earlier this year.
“If you were smart you would have also bought the dips (as I said to do).”
Eric Trump has a point
If an investor bought ETH when Trump his support for the coin, they would be sitting on an unrealized profit of approximately 30%, as ETH is currently trading at $3,732, up from around $2,877 on Feb. 4, to CoinGecko.
However, the same investors would have also seen a paper loss if they had done so, as ETH fell nearly 49% over four weeks after Trump’s post. Ether is currently trading up 12% year-to-date.
On Sunday, analyst Gert van Lagen pointed out a striking resemblance between ETH’s current structure and the Dow Jones (DJIA) structure from 1980.
Lagen predicted that ETH could hit as it enters the final phase of its long-term bullish pattern.
Related:
Trump family’s crypto ties
President Trump and his family have ties to multiple crypto-related ventures that have reportedly resulted in his personal fortune in the span of a few months.
On Monday, Trump Media and Technology Group, the company that owns Trump’s Truth Social platform, announced that it holds . The company raised $2.5 billion as part of its Bitcoin strategy, and intends to make further buys depending on market conditions.
Trump’s sons, Donald Trump Jr. and Eric Trump, are among the founders of American Bitcoin, which to buy Bitcoin for its treasury reserve and to buy Bitcoin mining equipment, and all three of Trump’s sons are of World Liberty Financial, with Trump himself being the co-founder emeritus.
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