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 an interview with CNBC on Wednesday, Eric once again expressed 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 priced at $16,000. What is its current price? $70,000?
Reflecting on August last year, Eric, who considers himself a “Bitcoin enthusiast,” boldly predicted that Bitcoin would surge to $175,000 by the end of the year and ultimately climb to one million dollars.
However, the actual price movement did not fully meet his expectations. Bitcoin closed last year at about $88,750, a significant retracement from the $126,000 all-time high set in early October, falling far short of his target price.
Despite the short-term prediction 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 about 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 be volatile, but even so, I have never been so bullish on Bitcoin in my life, nor have I been so optimistic about the entire cryptocurrency industry.
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