In his latest statement, US President Donald Trump’s son Eric Trump reiterated his strong belief in Bitcoin, stating that both individual and institutional demand is rapidly increasing.
Eric Trump said that Bitcoin could reach $1 million in the long run and made his commitment to cryptocurrencies clear with the words, “I’m fully committed.”
Eric Trump said in his speech that demand for Bitcoin is now at its highest level on a global scale.
“Big families want it. The biggest private funds want it. Fortune 500 companies are accumulating Bitcoin every day.”
Trump also pointed out that some countries are using surplus energy resources to mine Bitcoin to secure reserves. According to Eric Trump, Bitcoin has become a “world-class asset” that serves as both an institutional and retail investment vehicle.
Eric Trump said demand is accelerating due to Bitcoin’s increased accessibility through ETFs, 401k retirement plans, and Roth IRAs, reminding investors that Bitcoin has always been held back by the excuse that it’s “too expensive.”
“I told people to buy Bitcoin when it hit $50,000. They said, ‘It’s too expensive.’ I said the same thing when it was $80,000 and they said it’s expensive again. It went to $100,000, then it went to $125,000…I don’t know how many times I can say that.”
President Trump also said he was “more proud than ever” of his company, American Bitcoins, and concluded his remarks by saying, “I believe in the rise of Bitcoin. It’s certainly going to do very well.”
*This is not investment advice.