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Eric Trump Confident Bitcoin Price Will Hit $1 Million

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Eric Trump, a prominent American businessman, executive vice president of the Trump Organization, and son of United States President-elect Donald Trump delivered a striking prediction at the Bitcoin MENA event in Abu Dhabi on Dec. 10. He confidently declared that Bitcoin will someday reach a value of $1 million per BTC.

“I am confident that Bitcoin is going to hit $1 million.”

Trump’s keynote address showcased his belief in Bitcoin as a revolutionary “financial paradigm” with the potential to reshape the global economy. He expressed certainty that its value will soar in the years ahead.

Bitcoin: A Global Asset and Hedge

Trump described Bitcoin as far more than a typical asset, emphasizing its role as a “global asset” that safeguards against economic uncertainty and unforeseen disruptions.

“It’s a store of value. It’s a hedge against inflation. It’s a hedge against political turmoil, 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 fees associated with conventional financial systems.

Scarcity Driving Value

Trump pointed to Bitcoin’s fixed supply of 21 million as a critical factor behind its enduring appeal. Scarcity, he argued, is a defining feature that ensures its long-term value and places it in a league of its own.

A Familiar Pattern of Adoption

Drawing parallels to the slow adoption of groundbreaking technologies like email, Trump argued that hesitation to embrace change is nothing new. He shared a story about a friend who dismissed Bitcoin only to see his own bank adopt it shortly afterward.

“People are slow as hell to adapt to new technology,” Trump remarked, underscoring the importance of early adoption.

The Future Belongs to Those Who Adapt

Trump’s confidence extended beyond price predictions, as he forecasted a world where businesses and governments would need to adapt to the growing influence of Bitcoin. He asserted that early adopters will reap the rewards of this transformation.

“We’re going to see that banks have to adapt. We’re going to 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 in early are going to be the people who win.”

Trump concluded his address with a message of celebration, acknowledging Bitcoin’s recent milestone of surpassing $100,000 for the first time.

“Bitcoiners, I love you. The Trump family loves you. It’s truly a great honor to be here today,” he said.

Watch the Bitcoin MENA 2024 Conference Day 2 Livestream. Featuring leading Bitcoin industry figures across the Middle East, North Africa, and around the globe Bitcoin MENA is spurring the next chapter of global Bitcoin adoption!





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Eric Trump States Bitcoin Is the Ultimate Hedge for Real Estate Investors

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2 weeks ago

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December 11, 2024

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Eric Trump, Executive Vice President of the Trump Organization and son of United States President-elect Donald Trump, recently shared his perspective on Bitcoin during an exclusive backstage interview with Frank Corva, Business-to-Business Correspondent for Bitcoin Magazine, at the Bitcoin MENA 2024 Conference. Trump highlighted Bitcoin’s transformative potential, comparing it to real estate, the cornerstone of his family’s business, while emphasizing its unique advantages as a hedge for traditional investors.

From Real Estate to Bitcoin

As a self-proclaimed “bricks-and-mortar guy,” Trump explained his family’s deep connection to real estate. “I’ve spent my entire life walking through construction sites,” he said, describing the tangible nature of real estate and its energy. Yet, he recognized the limitations of physical assets, such as their illiquidity and inability to adapt to global market shifts.

“If I have a hotel, I can spend five years building it, and if I want to sell that hotel, it could take me two years to sell the property,” Trump noted. He acknowledged the many benefits of real estate, including leverage and tax advantages, but pointed out its significant drawback: “Real estate is illiquid.”

This is where Trump sees Bitcoin as a revolutionary alternative. “What’s a better hedge to real estate than something that’s instantaneously liquid?” he asked.

Bitcoin as a Transportable and Accessible Asset

Trump elaborated on Bitcoin’s portability compared to real estate. “I can’t take Trump Tower on 57th and 5th and move it to London, Singapore, or the UAE if those markets happen to be better. But Bitcoin is transportable—it’s digital,” he said.

He also praised Bitcoin for eliminating intermediaries and reducing costs. “There are no brokers, no bankers, no lawyers, no title companies, no middlemen,” he said. Unlike real estate, Bitcoin carries no risk of physical damage from fires, floods, or natural disasters.

Democratizing Investment Opportunities

Beyond its technical advantages, Trump highlighted Bitcoin’s role in democratizing access to wealth-building opportunities. While real estate investments often require substantial capital and expertise, Bitcoin provides an entry point for those who might not have significant resources.

“Building or buying a house is out of reach for 99% of people,” Trump said. “They can’t go out and build a 70- or 80-story building on Fifth Avenue in New York. Entry costs are too high.” Bitcoin, however, offers an asset that is not only accessible but has historically delivered higher returns than most real estate investments.

Trump emphasized the potential for Bitcoin to empower people in developing countries. “Bitcoin gives people who otherwise wouldn’t have a chance the opportunity to invest, to succeed, to maybe get lucky and transform their lives,” he said.

Eric Trump’s perspective on Bitcoin as a hedge for real estate investors complements the ongoing conversation about how Bitcoin could reshape the path to homeownership, especially for younger generations priced out of traditional housing markets. In a previous Bitcoin Magazine article, I explored how Bitcoin serves as the ultimate savings tool, offering a tangible pathway to achieving the dream of homeownership in a landscape where housing prices feel increasingly unattainable. Could a single Bitcoin buy a house in the near future? As the Bitcoin Magazine Pro tweet suggests, the answer might just surprise us, as Bitcoin continues to transform both personal finance and global markets.

“Make No Mistake: It’s the Future”

As a proponent of long-term investment strategies, Trump confidently stated his belief in Bitcoin’s future. “Make no mistake: it’s the future,” he declared. “The people who embrace it early are going to succeed. Those who don’t will, as I said before, get left behind.”

Trump’s insights align with growing recognition of Bitcoin’s potential as a hedge against traditional assets, offering investors liquidity, accessibility, and global versatility. For real estate investors and others, Bitcoin may represent not just a hedge, but a cornerstone of the future financial landscape.

This interview underscores the increasing interest in Bitcoin among influential figures, highlighting its evolution from a speculative asset to a vital component of modern investment portfolios.

Watch the Bitcoin MENA 2024 Conference Day 2 Livestream. Featuring leading Bitcoin industry figures across the Middle East, North Africa, and around the globe Bitcoin MENA is spurring the next chapter of global Bitcoin adoption!





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Senator Cynthia Lummis Proposes the US Accumulates 1,000,000 Bitcoin Amid Record-Level National Debt

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5 months ago

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July 29, 2024

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A pro-crypto senator is proposing legislation for the US to stockpile 1 million Bitcoin (BTC) as the country’s national debt continues to rise.

Speaking at the Bitcoin 2024 Conference, Republican Senator Cynthia Lummis of Wyoming announces that she will propose a bill to establish a BTC reserve as a means of securing the value of the US dollar amid a record-breaking national debt.

“Establishing a strategic Bitcoin reserve would firmly secure the dollar’s position as the world’s reserve currency into the 21st century and ensure we remain the world leader in financial innovation.

Families across Wyoming and the US are struggling to keep up with soaring inflation rates and record-breaking costs while our national debt reaches unprecedented levels; now more than ever, we need to create a brighter future for generations of Americans by diversifying into Bitcoin and securing economic future.”

According to Lummis, the legislation will drive the US government to accumulate 1 million BTC or 5% of BTC’s total supply in five years.

“With a strategic Bitcoin reserve, we will have an asset that can cut our debt in half by 2045.”

Lummis says the plan is to convert excess funds from the 12 Federal Reserve banks into Bitcoin over a period of half a decade.

“This is the solution. This is the answer. This is our Louisiana Purchase moment!”

According to data from the U.S. Treasury Department, the current national debt is sitting at a staggering $34.99 trillion.

Bitcoin is trading for $68,478 at time of writing, a marginal increase during the last 24 hours.

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Gemini co-founder Warns About Kamala Harris’ ‘Big Bluff’ to Crypto Industry

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5 months ago

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July 29, 2024

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Gemini exchange co-founder Cameron Winklevoss has recently warned in a post on X that Kamala Harris and her advisors could come out swaying the crypto industry players with a possible “reset” for the crypto industry.

Gemini co-founder Has Message for Kamala Harris

Addressing Kamala Harris, the Gemini co-founder urged the US Vice President to take decisive and concrete action in the matter of crypto regulations. Winklevoss said that promises alone won’t be enough to mend the damage done over the past four years. He also warned Harris about the high intelligence in the crypto industry and its resilience against empty promises.

While referring to Donald Trump’s comments at the Bitcoin Conference last weekend, Winklevoss said that the crypto community would not be swayed by rhetoric and would demand tangible actions. The Gemini co-founder demanded that the U.S. Vice President should show her commitment by firing SEC Chair Gary Gensler before November this year. At the Bitcoin Conference, Trump has already vowed to fir Gensler on his Day 1 at the office.

Also Read: Donald Trump To Fire SEC Chair Gary Gensler On Day 1

Adding further, Custodia Bank founder Caitlin Long that Gensler is just one thorn in the grand of instigators of Operation Choke Point 2.0. She added that Harris should also fire other instigators still working to de-bank other law-abiding crypto firms.

What Happens to Bitcoin If Kamala Harris Wins?

While one faction of the crypto industry is suggesting that the Bitcoin price could hit $100K by the year-end if Donald Trump becomes the next president, the scenario could be different if Harris manages to pull off this election. Market analyst Jonah predicts that Bitcoin price could crash sub 50K if Harris defeats Trump.

Also Read: Kamala Harris Win Odds Surge To 40% Amid Crypto Shift Talks

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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