Donald Trumps Son Eric on Bitcoin: I Am Confident That It Is Going To Hit $1 Million
Eric Trump, President-elect Donald Trump's son, is bullish on Bitcoin.Barely a week after Bitcoin clinched the long-desired $100,000 price point, Bitcoiners are already setting their sights on new milestones, seven figures to be exact. The latest voice to join this chorus is Eric Trump, the second son of U.S. President-elect Donald Trump."I am confident that it [Bitcoin] is going to hit $1 million," Eric Trump asserted, speaking to a packed audience at the ongoing Bitcoin MENA Conference in Abu Dhabi today.Eric Trump's appearance at the conference follows his father's campaign appearance at Bitcoin 2024 in Nashville as the family has increasingly positioned itself as pro-crypto, a position Donald Trump has promised to reflect in his incoming administration's policies. Trump's pro-crypto stance has been a major factor driving Bitcoin's recent rally. To be sure, the asset has surged over 47% in the month following the election.Speaking at Bitcoin MENA, Eric Trump asserted that the advent of crypto marked the start of a financial revolution."I think that Bitcoin is a fundamental shift in the way we think about money," he stressed.According to the real-estate mogul, the asset has changed how he viewed the management of his company's treasury, accepted payments, and made payments.Eric Trump highlighted several reasons for his confidence in Bitcoin. They included Bitcoin's resistance to censorship, supply cap, and instant liquidity. Highlighting Bitcoin's lack of intermediaries and reduced barrier to entry compared to traditional assets.On this note, he quipped: "I can trade Bitcoin at midnight on Saturday while having dinner with my wife."Eric Trump contended that while most people did not recognize Bitcoin's potential yet, "eyes are going to be opened when Bitcoin hits $1 million."The real-estate mogul compared the uptake of Bitcoin to technologies like email and SMS. He noted that while adoption of these technologies had initially been slow, everyone now uses them. As such, he lauded attendees at the conference as pioneers in a revolution he tipped to be led by America with Donald Trump at the helm.Eric Trump is not the first figure to project a Bitcoin spike to $1 million. In an interview three months back, Lyn Alden, an investment strategist, suggested Bitcoin could reach this price mark in 2035. Asset manager Bernstein also projected a Bitcoin rise to $1 million by 2033. These projections came up before BTC even claimed $100,000.
Text source: The Crypto Basic
