Eric Trump took the stage in Tokyo on Monday to support Japanese bitcoin treasury company Metaplanet, marking a significant international expansion for the U.S. president’s family’s growing crypto ventures. The second son of President Donald Trump was named an adviser to the company in March, and his appearance at its extraordinary shareholders’ meeting followed a recent speech at the Bitcoin Asia conference in Hong Kong. Metaplanet, which holds over $2 billion in bitcoin, called the meeting to approve a major new capital-raising initiative.
The primary agenda was a plan to sell up to 550 million new shares overseas to raise approximately 130.3 billion yen ($884.41 million), with the bulk of the proceeds earmarked for purchasing more bitcoin. According to three attendees, the capital-raising plan was approved during the meeting held in Tokyo’s Shibuya district. When contacted by Reuters, Metaplanet declined to comment on Eric Trump’s involvement in the meeting or the outcome of the vote.
The move aligns with Donald Trump’s promise to be the “crypto president,” a stance he justifies by claiming cryptocurrency can improve the banking system and bolster U.S. dollar dominance. However, the family’s deepening involvement in crypto ventures, which have substantially added to their wealth, has drawn criticism. Critics argue that these businesses benefit directly from U.S. policy shifts under the Trump administration, creating potential conflicts of interest.
The Tokyo appearance is part of a broader strategy. Eric Trump co-founded American Bitcoin, a cryptocurrency mining company that is aiming to list on the Nasdaq this month. In Hong Kong last week, he expressed extreme optimism, predicting that bitcoin would reach a value of $1 million within several years. This forecast comes as bitcoin traded at $108,046 on Monday, down from its record high of over $124,000 reached just last month.
