Eric Trump, prominent American businessman, Executive Vice President of the Trump Organization, and son of US President-elect Donald Trump, made a startling prediction at the conference Bitcoin MENA event in Abu Dhabi On December 10th. He confidently declared that Bitcoin would one day reach a value of $1 million per bitcoin.
“I am confident that Bitcoin will reach $1 million.”
JUST IN: 🇺🇸 “I’m confident about it,” says Eric Trump, President Donald Trump’s son #Bitcoin It will reach a million dollars.” 🚀 pic.twitter.com/1SqScvddl2
— Bitcoin Magazine (@BitcoinMagazine) December 10, 2024
Trump’s keynote speech demonstrated his belief in Bitcoin as a revolutionary “financial model” that has the potential to reshape the global economy. He expressed his confidence that its value will increase in the coming years.
Bitcoin: Global Asset and Hedging
Trump described Bitcoin as much more than just a typical asset, stressing its role as a “global asset” that protects against economic uncertainty and unexpected disruptions.
“It’s a store of value. It’s a hedge against inflation. It’s a hedge against political unrest, political instability, acts of God, hurricanes, fires, floods, hurricanes, you guys. That’s what makes it so powerful.” Trump stated.
He also highlighted Bitcoin’s decentralized system, which operates without traditional intermediaries, in contrast to the inefficiency and high fees associated with traditional financial systems.
Scarcity value driver
Trump pointed to Bitcoin’s steady supply of 21 million as a crucial factor behind its enduring appeal. He said rarity is the defining characteristic that ensures its long-term value and sets it in a league of its own.
A familiar pattern of adoption
Compared to the slow adoption of leading technologies like email, Trump said hesitation to embrace change is nothing new. He shared a story about a friend who rejected Bitcoin only to see his own bank adopt it soon after.
“People are very slow to adapt to new technology” Trump noted the importance of early adoption.
NEW: Eric Trump just gave one of his most bullish performances #Bitcoin Speeches ever in the UAE capital 🇦🇪
"America will lead the digital revolution" 🙌 pic.twitter.com/dsyPWQiguI
— Bitcoin Magazine (@BitcoinMagazine) December 10, 2024
The future belongs to those who adapt
Trump’s confidence extended beyond price predictions, as he predicted a world in which businesses and governments would need to adapt to Bitcoin’s growing influence. He stressed that the early adopters will reap the benefits of this transformation.
“We will see that banks have to adapt. We will see that governments have to adapt, and governments will adapt. (…) Those who embrace bitcoin, those who embrace this digital revolution, those who embrace digital currency, the people who come early will be the People who win.
Trump concluded his speech with a message of celebration, acknowledging Bitcoin’s recent achievement of surpassing $100,000 for the first time.
“Bitcoin users, I love you. The Trump family loves you. It’s truly a great honor to be here today.” He said.
Watch the live stream of Day 2 of Bitcoin MENA 2024. Featuring leading figures in the Bitcoin industry across the Middle East and North Africa and around the world, Bitcoin in the MENA region catalyzes the next chapter in global Bitcoin adoption!
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