Despite the recent weakness in the cryptocurrency market, Eric Trump, the younger son of U.S. President Donald Trump, still expressed strong support for Bitcoin. At the “World Financial Forum” held at Mar-a-Lago in Florida, Eric reiterated his ultimate prediction that “Bitcoin will rise to one million dollars” and emphasized that he “has never been so bullish” on Bitcoin.
During a CNBC interview on Wednesday, Eric once again conveyed his long-term optimism for Bitcoin, praising it as “one of the best-performing asset classes over the past 10 years.” He said:
I am very supportive of Bitcoin because I truly believe it can reach one million dollars. Looking back two years, Bitcoin was at $16,000. What is its current price? $70,000?
Reflecting on August last year, the self-proclaimed “Bitcoin enthusiast” Eric boldly predicted that Bitcoin would surge to $175,000 by the end of the year and ultimately climb to $1 million.
However, the actual price movement did not fully meet his expectations. Bitcoin closed at about $88,750 at the end of last year, a significant pullback from the $126,000 all-time high set in early October, leaving a large gap from his target price.
Despite the short-term forecast missing the mark, Eric remains confident. He pointed out to the audience that over the past 10 years, Bitcoin has averaged an annual increase of around 70%, and he boldly asked, “Can you tell me which asset class has outperformed Bitcoin?”
In response to skepticism about Bitcoin’s high volatility and risk, Eric Trump chose to frame it as “an inevitable cost of growth assets.” He said:
Any asset with huge upside potential will inevitably come with volatility, but even so, I have never been so bullish on Bitcoin in my life, and I have never been so optimistic about the entire cryptocurrency industry.
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