Eric Trump, a prominent American businessman, executive vice president of the Trump Organization, and son of newly elected US President Donald Trump, made a striking prediction during the Bitcoin MENA event in Abu Dhabi on December 10. He confidently stated that Bitcoin will one day reach a value of $1 million per BTC.
“I am confident that Bitcoin will reach $1 million.”
JUST IN: 🇺🇸 President Donald Trump’s son Eric Trump says: “I am convinced that #Bitcoin will reach $1 million.” 🚀 pic.twitter.com/1SqScvddl2
— Bitcoin Magazine (@BitcoinMagazine) December 10, 2024
Trump’s keynote speech demonstrated his belief in Bitcoin as a revolutionary “financial paradigm” with the potential to reshape the global economy. He expressed certainty that its value will increase in the coming years.
Bitcoin: a global asset and hedge
Trump described Bitcoin as much more than a typical asset, emphasizing its role as a “global asset” that provides protection against economic uncertainty and unforeseen disruptions.
“It’s a store of value. It is a protection against inflation. It’s a protection against political unrest, political instability, acts of God, hurricanes, fires, floods, tornadoes, guys. That’s what makes it so powerful.” Trump stated.
He also highlighted Bitcoin’s decentralized system, which operates without traditional intermediaries, contrasting it with the inefficiencies and high costs associated with conventional financial systems.
Scarcity drives value
Trump pointed to Bitcoin’s steady supply of 21 million as a critical factor behind its enduring appeal. Scarcity, he argued, is a defining characteristic that ensures its long-term value and places it in a class of its own.
A well-known adoption pattern
Trump drew parallels to the slow adoption of disruptive technologies like email and argued that 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 adapt very slowly to new technology’ Trump noted, underscoring the importance of early adoption.
NEW: Eric Trump Just Got One of the Most Bullish Results #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 where companies and governments would have to adapt to Bitcoin’s growing influence. He asserted that early adopters will reap the benefits of this transformation.
“We will see that banks will have to adapt. We will see that governments will have to adapt, and governments will adapt. (…) Those who embrace Bitcoin, those who embrace this digital revolution, those who embrace digital currencies, the people who get there early, will be the people who win.”
Trump concluded his speech with a celebratory message, recognizing Bitcoin’s recent milestone of surpassing $100,000 for the first time.
“Bitcoiners, I love you. The Trump family loves you. It is truly a great honor to be here today,” he said.
Watch the Bitcoin MENA 2024 conference day 2 livestream. Featuring leading Bitcoin industry figures in the Middle East, North Africa and around the world, Bitcoin MENA is driving the next chapter of global Bitcoin adoption!