Eric Trump Is Confident Bitcoin Is 'Going To Hit $1 Million'

Murtuza Merchant

December 10, 2024

Eric Trump has lauded Bitcoin (CRYPTO: BTC) as a transformative asset with the potential to disrupt traditional banking systems.

Speaking at the Bitcoin MENA event in Abu Dhabi on Tuesday, he highlighted Bitcoin’s scarcity, liquidity and inclusivity, framing it as a groundbreaking complement to hard assets like real estate.

“Bitcoin has the ability to change the world. It has the ability to disrupt traditional banking systems in the biggest way,” Trump stated.

He emphasized Bitcoin's fixed supply of 21 million coins, contrasting it with other commodities like gold, whose supply can be increased with higher prices.

“With Bitcoin, Bitcoin’s supply is capped. That scarcity, that hard limit, makes it incredibly valuable, especially as these assets are being purchased in the billions,” he added.

Trump also underscored Bitcoin's global appeal and ease of use compared to traditional real estate investments.

“Unlike real estate, Bitcoin is not tied to geography. It's global, instantly liquid. You can buy or sell it while having dinner with your spouse,” he explained.

Also Read: Bitcoin Crashing? ‘Mundane’ Reasons, Says Bernstein: ‘Buy The Dip’

He noted the absence of intermediaries such as banks, brokers, and lawyers in Bitcoin transactions, making it a simpler and more accessible financial tool.

In addition to its efficiency, Trump highlighted Bitcoin's inclusivity and potential to empower individuals in developing nations.

“Bitcoin gives everybody the opportunity around the world to participate in ways they never otherwise would have thought, no matter their wealth, no matter their location,” he said.

While acknowledging his family’s success within traditional financial systems, Trump championed Bitcoin as a “beautiful thing” that should be “celebrated and embraced by all.”

"I can tell you a hell of a lot more eyes are going to be opened when Bitcoin hits $1 million. And I'm confident it's going to hit $1 million. I think we're all confident in this room that it's going to hit a million,” he said.

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Photo: Shutterstock

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