Trump's Crypto Crash: A Lesson in Volatility, or Just Bad Timing?
The Trump family's foray into the crypto world—a move that seemed almost inevitable given the former president's penchant for disruption—is now facing a harsh reality check. In President Trump’s second term, crypto assets transformed his family’s wealth. Now the Trumps — and their followers — are getting a crash course in the wild volatility ingrained in digital currencies. A Trump-branded memecoin is down about a quarter since August, Eric Trump ’s stake in a Bitcoin mining venture has shed roughly half its value from its peak, and shares of Trump’s social media company, which started hoarding Bitcoin this year, are hovering near an all-time low. Is this a sign of a broader crypto winter, or simply a case of the Trumps misreading the market? Crypto Crash Is Eroding Wealth for Trump’s Family and Followers
Bitcoin's Bumpy Road to a Million
Bitcoin, despite its inherent volatility, remains the king of crypto, minting an estimated 145,100 millionaires worldwide. The question isn't whether Bitcoin can make millionaires—it clearly has—but whether it still can. Projections suggest Bitcoin could hit $1 million by 2030. Now, forecasts are always a bit of a gamble (and, let's be honest, often more marketing than math), but the underlying trend is undeniable: Bitcoin has consistently defied expectations.
Consider this: From 2017 to 2025, Bitcoin grew at a compound annual growth rate (CAGR) of 50%. That's despite significant crashes in 2018 and 2022. The key is resilience. It's like a heavyweight boxer—it gets knocked down, but it always gets back up. The article also notes that Bitcoin hit a new all-time high of $126,000 in October.
Ethereum, while also impressive, hasn't quite matched Bitcoin's performance, growing at a CAGR of 33% during the same period. One of the most aggressive future price targets for Ethereum is $20,000. Given Ethereum's current price of $3,150, that implies a nearly sixfold increase in price. Bitcoin vs. Ethereum: Which Is More Likely to Be a Millionaire Maker?
The Privacy Paradox
But here's where things get interesting, and where the cracks in Bitcoin's armor start to show. VanEck CEO Jan van Eck recently raised concerns about Bitcoin's encryption and privacy, questioning whether the network provides sufficient security in the long term. He even suggested that some Bitcoin "maxis" are now examining Zcash, a cryptocurrency with enhanced privacy features.
Van Eck posted on X, asserting that the current Bitcoin bear market reflects “the onchain reality of the halving cycle (bearish for 2026), quantum-breaking-encryption concerns and the better privacy of Zcash.”
This is a crucial point. Bitcoin's transparency—the very feature that many tout as a strength—can also be a weakness. Every transaction is recorded on a public ledger, visible to anyone. While this provides accountability, it also raises serious privacy concerns. As Van Eck noted, “When you move money around on the Bitcoin blockchain, you can see it. You can see it move from one wallet to another.”
And this is the part of the analysis I find genuinely puzzling. If Bitcoin's long-term viability hinges on its ability to adapt to evolving security and privacy expectations, what happens if it can't? Will it become a relic of the early crypto days, overshadowed by more sophisticated, privacy-focused alternatives?
The price of Bitcoin was trading around $84,643 during the CNBC interview. As of 9:15 a.m. UTC on Sunday, Nov. 23, the price was $86,204, up 2.4% in the past 24 hours but down 7.7% year to date and 31.6% below its all-time high of $126,080 on Oct. 6, 2025.
Crypto's Wild West, Still Full of Gambles
The Trump family's crypto woes are a microcosm of the broader market: high risk, high reward, and no guarantees. While Bitcoin has proven its resilience, the long-term questions surrounding privacy and security remain unanswered. Whether it can adapt to these challenges will determine whether it remains the king of crypto, or becomes just another cautionary tale.
