Eric Trump, an American businessman and executive vice president of the Trump Organization, as well as the son of United States President-elect Donald Trump, has made a prediction that Bitcoin will eventually reach $1 million.
Speaking at the Bitcoin MENA event in Abu Dhabi on December 10, Trump delivered a keynote speech in which he praised Bitcoin as a “financial paradigm” and a global asset. He expressed his confidence that Bitcoin will one day reach $1 million per coin, highlighting its potential to “transform the global economy in beautiful ways.”
Trump also predicted that more governments will embrace Bitcoin in the coming years, emphasizing that early adopters will be among the winners.
During his speech, Trump emphasized that Bitcoin is not just another asset or investment, but a “global asset.” He described it as a store of value, a hedge against inflation, and a hedge against political turmoil, instability, and natural disasters. He highlighted Bitcoin’s decentralized nature, which eliminates the need for middlemen and excessive fees.
Trump noted that one major feature of Bitcoin is its scarcity, with a limited supply of 21 million coins. He expressed his belief that when Bitcoin reaches $1 million, more people will realize its potential and value.
Trump is not the only one predicting that Bitcoin will surpass the $1 million mark. Other major Bitcoin advocates, such as MicroStrategy’s Michael Saylor and ARK Invest’s Cathie Wood, have also expressed their belief in Bitcoin’s potential to reach $1 million.
Trump compared the adoption of Bitcoin to the adoption of email, stating that disruptive technologies often take time to gain widespread popularity. He shared a story about a close friend who initially dismissed Bitcoin as “funny money,” but later witnessed his own bank creating a crypto desk and investing billions of dollars into cryptocurrencies.
In addition to his $1 million prediction, Trump expressed his confidence that Bitcoin has the power to transcend borders and institutions. He stated that those who fail to adapt to this technology will lose, and that banks and governments will have to adapt to the digital revolution.
Trump concluded his address by congratulating the Bitcoin community on Bitcoin surpassing $100,000 for the first time on record on December 5. He expressed his love and the Trump family’s support for the Bitcoin community, stating that it was a great honor to be present at the event.