Eric Trump praises Bitcoin, predicts it will hit $1M at Bitcoin MENA 2024
Eric Trump has predicted Bitcoin will hit $1M, citing its scarcity and potential.
Eric compared Bitcoin’s adoption to email, emphasizing early adopter advantages.
Eric lauded Bitcoin as a hedge against inflation, instability, and global risks.
Eric Trump, executive vice president of the Trump Organization and son of US President-elect Donald Trump, delivered a stirring keynote address at the Bitcoin MENA event in Abu Dhabi on December 10, 2024.
In his speech, he confidently predicted that Bitcoin’s price would one day surpass $1 million per coin, describing it as a transformative force in the global economy.
Eric Trump highlighted Bitcoin’s unique qualities, emphasizing its limited supply of 21 million coins, decentralized structure, and potential to serve as a hedge against inflation and political instability. “Bitcoin is not just another investment,” he stated. “It’s a global asset, a store of value, and a safeguard against the uncertainties of the world—be it economic turmoil, natural disasters, or geopolitical conflicts.”
The son of the US President-elect compared Bitcoin’s adoption journey to the widespread acceptance of email, which took decades to achieve mass use. He acknowledged that technological breakthroughs often face resistance initially, but once their utility becomes apparent, they are embraced universally.
“People are slow to adapt to new technology, just as they were with email in the 1970s. But as Bitcoin gains traction, the sceptics will realize its transformative potential,” Eric said.
Eric also addressed the role of financial institutions and governments, noting that many are beginning to pivot toward cryptocurrency. He shared an anecdote about a major bank executive, once sceptical of Bitcoin, now overseeing a crypto desk handling billions in investments.
According to Eric Trump, those who embrace Bitcoin early will reap significant rewards, while late adopters risk falling behind in the digital currency revolution.
Acknowledging Bitcoin’s recent milestone of surpassing $100,000 per coin on December 5, Eric expressed optimism about the cryptocurrency’s future. He concluded by encouraging the Bitcoin community to continue driving innovation and adoption, stating, “Bitcoiners, I love you. The Trump family stands with you. Together, we are witnessing the dawn of a new financial paradigm.”
