Ethereum down 33% since Eric Trump suggested it was a ‘great time’ to buy
Ethereum (ETH) is down around 33% since Eric Trump brazenly predicted, “it’s a great time to add $ETH.”
Trump made the claim (which originally also said “thank me later”) on February 3 via his X account. At that point, ETH’s price stood at around $2,877.32. However, fast forward five weeks, and it has dipped to $1,908.57 at the time of writing — a slide of just over 33%.
The dip marks the currency’s worst February — a month when it traditionally sees stellar performance — since 2018, when it fell by just under 54%.
The Trump name is seemingly becoming something of a jinx where crypto’s concerned. Before taking office, Eric’s father, President Donald Trump, promised booming crypto markets, has since confirmed the establishment of a Strategic Crypto Reserve and “Digital Asset Stockpile,” and has declared that the United States will become the “Bitcoin superpower.”
However, these proclamations have done little to reverse bitcoin’s slide — it recently dropped to $78,313, down 27.9% from its all-time high back in January — or the ongoing poor performance of altcoins.
At least Trump didn’t suggest selling your organs
Eric Trump isn’t alone in handing out questionable crypto investment advice. Late last month, Strategy supremo Michael Saylor went as far as to suggest that people sell their kidneys to keep their bitcoin.
However, as illustrated by WhaleWire CEO Jacob King, that now looks to be a monumentally bad idea.
Read more: Trump confused by Strategic Bitcoin Reserve he just ordered
Writing on X, King says, “Let’s assume a kidney on the black market fetches around $150K, this would’ve bought 1.376 BTC. At today’s prices, they would be down $42,700 (-28%).
“On the bright side, anyone who sold a kidney for Bitcoin is now a true lifetime HODLer — because they’re too busy hooked up to dialysis to panic sell,” he adds.
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