The son of US President-elect Donald Trump, Eric Trump, believes that the price of Bitcoin (BTC) could reach $1,000,000 per coin.
During the Bitcoin MENA conference in Abu Dhabi, Trump Jr. emphasized that Bitcoin has every chance of “transforming the global economy” and becoming the most important financial instrument on a global scale.
Eric Trump turns out to be a Bitcoin enthusiast
According to Trump Jr., BTC is not only a store of value. He called Bitcoin an important tool for protecting against inflation, political instability and even natural disasters.
Eric Trump, who serves as executive vice president of the Trump Organization, noted that in the future, cryptocurrency will be widely accepted by both public and private institutions. He compared the introduction of Bitcoin to the masses with the spread of email, which took 25 years to gain mass trust.
The main factor in the value and demand of Bitcoin is its limited supply of 21 million BTC; the winners will be those who are able to introduce a digital asset into their financial systems before others,” the son of the US President emphasized.
Eric Trump paid special attention to the decentralized nature of BTC. It is this that allows you to do without intermediaries when transferring cryptocurrency.
Not only the son of the re-elected US President believes that the first cryptocurrency by capitalization can grow to $1,000,000. MicroStrategy founder Michael Saylor and ARK Invest CEO Cathie Wood share a similar opinion.
Trump Family Crypto Initiatives
Donald Trump has made digital assets one of the main themes of his 2024 election campaign. Together with his sons, he even launched the World Liberty Financial (WLFI) project to fight the banks. The main goal of the initiative, according to the team, is to combat unequal access to banking services.
However, investors were not impressed by the idea of Trump’s sons. Moreover, some considered WLFI a scam.
What’s happening with Bitcoin
Early December bitcoin For the first time in history, it surpassed the $100,000 level. The BTC rate rose to a record $103,900.
According to CoinMarketCapat the time of writing, the flagship of the crypto market is trading at $98,142, having recovered from a local minimum of $94,355.
Despite the correction and difficulties in maintaining the psychologically significant level of $100,000, Bitcoin has many prerequisites for renewed growth in the long term. Among the most significant bullish factors are the potential easing of monetary policy in the United States and the growing shortage of bitcoins on exchanges.
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Source: Cryptocurrency
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