TLDR
- Eric Trump predicted Bitcoin will reach $1 million per coin during his speech at Bitcoin MENA conference in Abu Dhabi on December 9, 2024
- He stated Donald Trump will be “the most pro-crypto president in the history of America” and plans to make the US the “crypto capital of the world”
- Eric Trump emphasized Bitcoin’s role as a global asset that doesn’t require intermediaries like banks or brokers
- He highlighted Bitcoin’s fixed supply of 21 million coins and its potential to empower people in developing nations
- The Trump family pledged continued support for cryptocurrency and its role in what Eric calls a “financial revolution”
Eric Trump, Vice President of the Trump Organization and son of President-elect Donald Trump, made headlines at the Bitcoin MENA 2024 conference in Abu Dhabi on December 9 with his prediction that Bitcoin will reach $1 million per coin. The announcement came as part of a broader discussion about cryptocurrency’s future under the incoming Trump administration.
During his address to conference attendees, Eric Trump expressed strong support for Bitcoin, describing it as a cornerstone of modern finance. He highlighted his father’s recent statements in Nashville, where Donald Trump declared his intention to become “the bitcoin president” and “the crypto president.”
The younger Trump emphasized the administration’s plans to implement what he called “smart regulation” of cryptocurrency. He contrasted this approach with that of the current Biden administration, specifically criticizing SEC Chair Gary Gensler’s regulatory stance. Trump praised Paul Atkins, appointed by Donald Trump, as “an unbelievable ally” to the cryptocurrency industry.
In discussing Bitcoin’s value proposition, Eric Trump drew parallels between the digital currency and his family’s traditional interest in hard assets. He pointed to Bitcoin’s scarcity, noting its fixed supply of 21 million coins as a key factor in its value potential.
COMMENT: Eric Trump is confident that Bitcoin will hit $1M. https://t.co/iFb5cmzpFz
— BSCN (@BSCNews) December 10, 2024
The Trump Organization executive highlighted Bitcoin’s accessibility as one of its main advantages over traditional investments. He compared it to real estate, noting that unlike property investments, Bitcoin isn’t tied to specific geographical locations and offers instant liquidity.
Trump addressed the global implications of cryptocurrency adoption, suggesting that Bitcoin could serve as a tool for financial inclusion in developing nations. He emphasized that Bitcoin allows worldwide participation regardless of wealth or location.
The conference speech included observations about institutional adoption of cryptocurrency. Trump referenced the market’s reaction when Bitcoin reached $100,000, suggesting that the $1 million milestone would attract even more attention from institutional investors.
In discussing the regulatory landscape, Trump criticized what he characterized as an adversarial approach by current regulators. He promised that the incoming administration would take a more supportive stance toward the cryptocurrency industry.
Trump outlined his vision of Bitcoin’s role in modernizing the global financial system. He described how the cryptocurrency eliminates the need for traditional banking intermediaries and their associated fees.
The speech touched on Bitcoin’s potential as a hedge against traditional financial system inefficiencies. Trump pointed to the cryptocurrency’s decentralized nature as a key advantage in this context.
Addressing practical applications, Trump discussed how Bitcoin transactions can be conducted without the complexity often associated with traditional financial instruments. He used the example of being able to buy or sell Bitcoin “while having dinner with your spouse” to illustrate its convenience.
Trump emphasized his family’s commitment to supporting cryptocurrency development. He stated that they would “lead the charge in every single way” in promoting crypto adoption.
The conference appearance included discussion of the Trump administration’s planned approach to cryptocurrency regulation. Eric Trump indicated that his father’s administration would work to position the United States as the global leader in cryptocurrency innovation.
Trump concluded his remarks by predicting that governments and institutions embracing Bitcoin would emerge as the primary beneficiaries of what he termed a “digital revolution.”
