Eric Trump Calls Bitcoin 'The Hot Asset of Our Time'
US President Donald Trump's son, Eric Trump, has stated that Bitcoin's public acceptance is just beginning and is now being actively introduced into the global economy. According to Eric Trump, “Bitcoin is just starting to open the floodgates.”
The businessman noted the growing demand for bitcoin among Fortune 500 companies, sovereign wealth funds, and even entire US states: Texas and Wyoming. Eric Trump acknowledged that bitcoin has become an international store of value that outperforms traditional assets in terms of profitability. Previously, bitcoin attracted only retail investors, but now the situation has changed — large companies are also investing in it.
“Bitcoin is the hot asset of our time. It's just starting to open the floodgates,” Eric Trump said.
He recalled that he got involved in cryptocurrencies after traditional financial institutions began to refuse him service for no apparent reason. Trump suggested that this “persecution” was politically motivated, and called the banks’ actions unconstitutional and unfree, which is “not American at all.”
Eric Trump now positions himself not only as a Bitcoin investor, but also as a supporter of digital assets in general. He is confident that the introduction of Bitcoin into the payment sector will accelerate the adoption of other cryptocurrencies internationally. In particular, Trump noted the rapid development of the USD1 stablecoin pegged to the US dollar from the family platform World Liberty Financial. Its current market capitalization is $2.6 billion.
This proves the potential of cryptocurrencies to replace outdated banking systems. It was debanking that pushed the Trump family to embrace digital assets, and now they see Bitcoin and stablecoins as tools that can bring financial freedom to the world, Trump emphasized.
Earlier, the president's son suggested that Bitcoin would reach $1 million by the end of 2024. He recently admitted that his forecast did not come true, but expressed confidence that the first cryptocurrency would still reach this mark over time.
Source: cryptonews.net
