U.S. President Donald Trump 's son, Eric Trump , has expressed concern at a socialist like Zohran Mamdani becoming the mayor of New York. Though it would make business in the city difficult, crypto is beyond this, he added.
Eric Trump made the remarks during a recent conversation with CoinDesk in which he talked about his father's crypto policy, Michael Saylor, and the next mayor of New York.
Michael Saylor asked Eric to mortgage Mar-a-Lago
Eric revealed that MicroStrategy (Nasdaq: MSTR) co-founder Michael Saylor once told him to put Mar-a-Lago, a Trump family-owned resort in Florida, on mortgage to buy Bitcoin .
"By the way, he was dead serious, right? He is the guy that goes out and says, sell your liver and kidney and buy Bitcoin."
Eric Trump is a strong believer in Bitcoin and the broader crypto economy. He is also the co-founder of the Bitcoin mining company American Bitcoin (Nasdaq: ABTC).
Related: What is Crypto? Cryptocurrency explained
Eric Trump on his father's crypto policy
Eric hailed his father for his pro-crypto policy, saying he achieved more in the first week of his office than anyone in the last 10 years.
While his company imports Bitcoin mining equipment from China, Eric downplayed the tariffs imposed on Chinese goods and called them "part of the business." Instead, he claimed the decline in energy costs of mining since his father assumed the presidency as an advantage for the company.
Next New York mayor
Eric indirectly expressed concerns about Zohran Mamdani (D-NY), describing him as a "pretty much socialist" who could take over New York, the "biggest capitalist city" in the world. He added he couldn't move the Trump Tower out of the city in case such a leader becomes the next mayor as real estate isn't an instantly "liquid" asset.
He compared it to crypto, which he said can be moved instantaneously worldwide, 24/7. Unlike real estate, crypto isn't subject to a "bad mayor" coming in, he added.
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Bold Bitcoin prediction
Eric reiterated his prediction that Bitcoin's price will hit $1 million in "probably the 2030s," though he added he would like to see it happen earlier. He also mentioned countries like South Korea, Vietnam, etc., and institutions like Fidelity embracing Bitcoin as a sign of the times to come.
The total crypto market cap stood at $3.77 trillion at press time, still struggling to recover from Trump's anti-China remark on Oct. 10.
Bitcoin was trading at $112,149.85, up 1.30% in a day. Solana , on the other hand, jumped 3.40% to trade at $194.18 at press time. This is a remarkably positive development ahead of the Solana Breakpoint in early December, when the network's builders and investors will gather at the annual developer and ecosystem conference.
This story was originally reported by TheStreet on Oct 21, 2025, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.
