Eric Trump says that the United Arab Emirates, as well as other countries in the world, have begun “actively buying” Bitcoin. “If you go to the UAE, to a lot of countries, they are actively putting treasuries into it,” he said in a recent interview. “If you look at Fortune 500 companies, they are actively hoarding Bitcoin… that’s why it’s been as explosive as it is.”

Bitcoin is climbed past $115,000 over the weekend, and now sits at $115,264 at press time. It’s grown over 70% in value in the past year, with several countries and financial institutions investing in the asset. The Bitcoin price jumped following announcements from U.S. Treasury Secretary Scott Bessent, who confirmed substantial progress had been made in U.S.-China trade talks over the weekend. The Bitcoin climbing momentum was fueled by relief that the threatened 100% tariffs may be averted.

Several countries have followed in the US’ footsteps this year for crypto investment. Nations like Japan, China, and the UAE are growing more favorable of the digital asset industry, especially as an alternative to fiat and an ideal source for cross-border transactions. For the UAE specifically, the city of Dubai recently granted ByBit crypto exchange an SCA license. Under the SCA’s Virtual Asset Platform Operator License, Bybit will offer regulated virtual asset trading, brokerage, custody, and fiat conversion services in the UAE.

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Eric Trump himself has always touted himself as pro-Bitcoin, something his father has also spread across his administration. Although he was recently removed from the board of the World Liberty Treasury company “ALT5 Sigma” due to Nasdaq rules, Trump still partakes heavily in the crypto industry and is a prominent voice in crypto.