Eric Trump, son of former US President Donald Trump, has reaffirmed his strong conviction in Bitcoin, stating that both individual and institutional demand is experiencing rapid growth.
Eric Trump expressed his belief that Bitcoin could potentially reach $1 million in the long term, defining his commitment to cryptocurrencies with the declaration, "I am totally committed."
Growing Global Demand for Bitcoin
In his recent remarks, Eric Trump highlighted that Bitcoin demand has now ascended to its highest levels on a global scale. He elaborated on this point by stating:
“The biggest families want it. The biggest private wealth funds want it. Fortune 500 companies are accumulating Bitcoin every day.”
Trump further observed that certain countries are leveraging their surplus energy resources for Bitcoin mining as a means of building reserves. He characterized Bitcoin as a "world-class asset" that is increasingly finding its place in both institutional portfolios and individual investment strategies.
Accessibility and Investment Perspectives
Eric Trump pointed to Bitcoin's enhanced accessibility through vehicles such as ETFs, 401k retirement plans, and Roth IRAs as a key factor accelerating demand. He also addressed the recurring investor hesitation based on the perception of Bitcoin being "too expensive."
Recounting his past advice, Trump said, "I was telling people to buy Bitcoin when it was $50,000. They said, 'It's too expensive.' I said the same thing when it was $80,000, and they said it was expensive again. It became $100,000, then $125,000… I don't know how many times I have to say it."
Company Pride and Future Outlook
Trump also conveyed his pride in his company, AmericanBitcoins, stating he was "more proud than ever." He concluded his remarks with a positive outlook on Bitcoin's future performance, saying, "I believe in the rise of Bitcoin, it will perform very well indeed."