Ethereum (ETH) Performance

Ethereum (ETH) has declined approximately 33% since Eric Trump claimed it was a good time to invest in it.

Trump made this assertion on February 3 via his X account, stating, “thank me later,” when ETH was priced at around $2,877.32. However, five weeks later, the price has fallen to $1,908.57, marking a decline of just over 33%.

This downturn marks ETH’s worst February—traditionally a strong month—since 2018, which saw a drop of nearly 54%.

The Trump name seems to carry a jinx regarding cryptocurrency. Before his presidency, Donald Trump claimed that the crypto market would flourish and announced the creation of a Strategic Crypto Reserve and a “Digital Asset Stockpile,” with aspirations for the U.S. to become a “Bitcoin superpower.” These declarations have not halted Bitcoin’s decline, as it recently fell to $78,313, down 27.9% from its peak in January, nor have they improved the situation for altcoins.

Trump’s Not the Only One Giving Bad Advice

Eric Trump is not the only figure providing dubious crypto investment recommendations. Recently, Michael Saylor suggested people should sell their kidneys to buy Bitcoin.

Jacob King, CEO of WhaleWire, pointed out that this idea was severely flawed. He explained that if someone sold a kidney for about $150K, they could have bought 1.376 BTC, which is now valued at $42,700 less than the purchase price.

As King humorously notes, any person who sold a kidney for Bitcoin is now a true lifetime HODLer due to the unfortunate situation of being on dialysis and unable to sell their investment.