Eric Trump, Vice President of the Trump Organization and Chief Strategy Officer at American Bitcoin, voiced strong support for bitcoin in a recent Fox Business interview.
Trump emphasized bitcoin’s digital advantages, predicting it will eventually replace the traditional financial system and reach a price of $1 million.
Why bitcoin outpaces gold
Trump argued that bitcoin has clear benefits over gold, highlighting its ability to move across borders quickly and inexpensively.
Unlike gold, which requires costly storage and transportation, bitcoin is liquid and can be transferred globally with ease. He also pointed to bitcoin’s fixed supply, noting that only 21 million coins will ever exist, making it a scarce asset.
Institutional demand and fixed supply
According to Trump, increasing demand from institutions will drive bitcoin’s price higher over time.
The asset’s scarcity, combined with growing adoption, sets it apart from traditional assets. Trump stated:
“I do think it hits a million dollars eventually. I’ve never been more bullish on anything in my entire life.”
Bitcoin as the new financial system
Trump expressed that countries facing high inflation often see their citizens lose value to the US dollar shortly after receiving wages, exposing vulnerabilities in the current system.
To address this, he suggested stablecoins pegged to the US dollar could provide a solution, letting users preserve value more securely.
He affirmed his view that bitcoin and related technologies will replace traditional finance, citing their numerous advantages, including speed, utility, and security.
