Eric Trump, a famous American businessman, senior vice president of the Trump Organization, and the son of the President-elect of the United States Donald Trump presented a surprising prediction at the Bitcoin MENA event in Abu Dhabi on Dec. 10. He confidently announced that Bitcoin would one day reach a value of $1 million per BTC.
“I’m sure Bitcoin will reach $1 million.”
JUST IN: 🇺🇸 President Donald Trump’s son, Eric Trump says, “I’m sure #Bitcoin it will reach $1 million.” 🚀 pic.twitter.com/1SqScvddl2
– Bitcoin Magazine (@BitcoinMagazine) December 10, 2024
Trump’s keynote speech reflected his belief in Bitcoin as a revolutionary “financial idea” that has the potential to reshape the global economy. He expressed confidence that its value will increase in the coming years.
Bitcoin: A Global Asset and Hedging
Trump has described Bitcoin as a very versatile asset, emphasizing its role as a “global asset” that protects against economic uncertainty and unexpected disruptions.
“It’s a value store. It is a hedge against inflation. It is a hedge against political unrest, political instability, acts of God, storms, fires, floods, hurricanes, boys. That is what makes it powerful,” Trump said.
He also highlighted Bitcoin’s decentralized system, which operates without traditional intermediaries, which contrasts with the inefficiencies and high costs associated with conventional financial systems.
Scarcity Driving Value
Trump pointed to Bitcoin’s fixed supply of 21 million as a key factor behind its enduring appeal. Scarcity, he said, is the defining characteristic that ensures its long-term value and puts it in a league of its own.
General Pattern of Discovery
Drawing parallels with the slow adoption of new technologies like email, Trump said reluctance to embrace change is nothing new. He shared a story about a friend who cashed out Bitcoin only to see his bank take it soon after.
“People are slow as hell to adapt to new technology,” Trump commented, stressing the importance of early detection.
NEW: Eric Trump just delivered one of the best #Bitcoin speeches that once took place in the capital of the UAE 🇦🇪
"America will lead the digital revolution" 🙌 pic.twitter.com/dsyPWQiguI
– Bitcoin Magazine (@BitcoinMagazine) December 10, 2024
The Future Belongs to the Adaptable
Trump’s confidence extends beyond price predictions, as he predicts a world where businesses and governments will need to adapt to Bitcoin’s growing influence. He emphasized that those who take it early will get the reward of this change.
“We will see that the banks have to adapt. We will see that governments have to adapt, and governments will adapt. […] Those who accept Bitcoin, those who accept this digital revolution, those who accept digital currency, the early adopters will be successful people. “
Trump concluded his speech with a celebratory message, acknowledging Bitcoin’s recent milestone of surpassing $100,000 for the first time.
“Bitcoiners, I love you. The Trump family loves you. It is truly an honor to be here today,” he said.
Watch Bitcoin MENA 2024 Conference Day 2 Livestream. Featuring the leading Bitcoin industry figures in the Middle East, North Africa, and the rest of the world Bitcoin MENA is fueling the next chapter of global Bitcoin adoption!