In a keynote delivered Tuesday at the Bitcoin Mena conference in Abu Dhabi, Eric Trump, executive vice president of the Trump Organisation and the son of US president-elect Donald Trump, made a bold forecast for the BTC price. Trump’s speech touched on Bitcoin’s scarcity, global liquidity, and disruptive potential to the traditional financial sector, culminating in a pronouncement that the BTC price will reach $1 million.
Throughout the keynote, Trump highlighted the unique advantages of Bitcoin over traditional assets like real estate and gold. He described BTC’s scarcity – the fixed supply of 21 million coins – as a critical driver of value, contrasting it with gold, whose supply could be expanded if prices rose dramatically.
“Name another commodity that’s capped. Name another commodity that as prices go up, it’s not further exploited,” he said. Trump noted that if gold soared to $20,000 per ounce, “you’d be tearing down this building” to find more.
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By contrast, Bitcoin’s hard supply limit cannot be altered. “With Bitcoin, you can’t. With Bitcoin, supply is capped. That scarcity, that hard limit, it makes it incredibly valuable, especially as these assets are being purchased in the billions. That’s why you see the price skyrocket the way it is.”
Trump referenced the involvement of major financial institutions, asserting that their participation proves Bitcoin’s significance. “There’s no question that the institutions are petrified. Guys, they’re petrified. Why do you think BlackRock and why do you think Schwab and why do you think, you know, JP Morgan and Fidelity, (0:29) why do you think they’re buying crypto by the billions?” he asked.
Drawing on his personal evolution from a skeptic to a believer, Trump referenced early conversations with MicroStrategy CEO Michael Saylor, a well-known proponent of Bitcoin. “I’ve known Michael Saylor for 20 years. If you want to talk about a great champion for this industry, it’s Michael Saylor,” he said, calling the enterprise software mogul “a national treasure” for his unwavering advocacy and educational efforts.
Related Reading: Will Amazon Buy Bitcoin? Shareholders Propose 5% Investment
Trump stressed BTC’s superior liquidity and borderless nature compared to traditional hard assets like real estate. “It’s instantly liquid. You can buy or sell it while literally having dinner with your wife or your husband,” he explained, contrasting this ease with the protracted timelines and excessive complexity of selling large real estate holdings. “Try going out and selling a big office building.It will take you 18 months to do. At the end of it, you’re going to want to shoot yourself in frustration,” he said.
He also pointed to Bitcoin’s role in financial inclusion, stating that it creates opportunities for people around the globe, regardless of wealth or geography. “Bitcoin is inclusive. It gives everybody the opportunity around the world to participate in ways that they never otherwise would have thought,” he said. “People in developing countries, people who otherwise wouldn’t stand a freaking chance, it gives them tremendous opportunity.”
In the most eye-popping statement, Trump turned to BTC’s price performance. He mentioned a key psychological milestone already reached and suggested the next one could further alter mainstream perceptions: “I can tell you a lot of eyes were open when Bitcoin hit $100,000. And I can tell you a hell of a lot of more eyes will be open when Bitcoin hits $1 million.” Trump then added his personal conviction, stating, “I’m confident it’s going to hit $1 million, I think we are all confident in this room that it will hit $1 million.”
At press time, BTC traded at $97,620.
Featured image from X, chart from TradingView.com
In a keynote delivered Tuesday at the Bitcoin Mena conference in Abu Dhabi, Eric Trump, executive vice president of the Trump Organisation and the son of US president-elect Donald Trump, made a bold forecast for the BTC price. Trump’s speech touched on Bitcoin’s scarcity, global liquidity, and disruptive potential to the traditional financial sector, culminating in a pronouncement that the BTC price will reach $1 million.
Throughout the keynote, Trump highlighted the unique advantages of Bitcoin over traditional assets like real estate and gold. He described BTC’s scarcity – the fixed supply of 21 million coins – as a critical driver of value, contrasting it with gold, whose supply could be expanded if prices rose dramatically.
“Name another commodity that’s capped. Name another commodity that as prices go up, it’s not further exploited,” he said. Trump noted that if gold soared to $20,000 per ounce, “you’d be tearing down this building” to find more.
Related Reading: Strategic Bitcoin Reserve Proposed by Russian State Duma Deputy
By contrast, Bitcoin’s hard supply limit cannot be altered. “With Bitcoin, you can’t. With Bitcoin, supply is capped. That scarcity, that hard limit, it makes it incredibly valuable, especially as these assets are being purchased in the billions. That’s why you see the price skyrocket the way it is.”
Trump referenced the involvement of major financial institutions, asserting that their participation proves Bitcoin’s significance. “There’s no question that the institutions are petrified. Guys, they’re petrified. Why do you think BlackRock and why do you think Schwab and why do you think, you know, JP Morgan and Fidelity, (0:29) why do you think they’re buying crypto by the billions?” he asked.
Drawing on his personal evolution from a skeptic to a believer, Trump referenced early conversations with MicroStrategy CEO Michael Saylor, a well-known proponent of Bitcoin. “I’ve known Michael Saylor for 20 years. If you want to talk about a great champion for this industry, it’s Michael Saylor,” he said, calling the enterprise software mogul “a national treasure” for his unwavering advocacy and educational efforts.
Related Reading: Will Amazon Buy Bitcoin? Shareholders Propose 5% Investment
Trump stressed BTC’s superior liquidity and borderless nature compared to traditional hard assets like real estate. “It’s instantly liquid. You can buy or sell it while literally having dinner with your wife or your husband,” he explained, contrasting this ease with the protracted timelines and excessive complexity of selling large real estate holdings. “Try going out and selling a big office building.It will take you 18 months to do. At the end of it, you’re going to want to shoot yourself in frustration,” he said.
He also pointed to Bitcoin’s role in financial inclusion, stating that it creates opportunities for people around the globe, regardless of wealth or geography. “Bitcoin is inclusive. It gives everybody the opportunity around the world to participate in ways that they never otherwise would have thought,” he said. “People in developing countries, people who otherwise wouldn’t stand a freaking chance, it gives them tremendous opportunity.”
In the most eye-popping statement, Trump turned to BTC’s price performance. He mentioned a key psychological milestone already reached and suggested the next one could further alter mainstream perceptions: “I can tell you a lot of eyes were open when Bitcoin hit $100,000. And I can tell you a hell of a lot of more eyes will be open when Bitcoin hits $1 million.” Trump then added his personal conviction, stating, “I’m confident it’s going to hit $1 million, I think we are all confident in this room that it will hit $1 million.”
At press time, BTC traded at $97,620.
Featured image from X, chart from TradingView.com
