Eric Trump, co-founder of American Bitcoin and executive vice president of the Trump Organization, stated that cryptocurrency is poised to transform finance, describing bitcoin as “digital gold” and forecasting that it might eventually reach $1 million.
In an appearance on Making Money with Charles Payne, Trump asserted that crypto and bitcoin are not merely speculative investments, but rather an essential advancement in the traditional financial landscape.
“My revelation occurred when I was debanked by everyone,” Trump explained. “Capital One sent me a letter in the middle of the night terminating 300 bank accounts from [our properties] without any wrongdoing.”
Trump mentioned to Payne that he met various individuals in the crypto sector and recognized their brilliance, observing how “outdated modern finance” had become.
He depicted conventional banking as slow and unwieldy, highlighting how cryptocurrency could enhance the speed of financial transactions.
“It took me 120 days to secure a mortgage from a bank I’d been with for 25 years,” he remarked. “Every week I was following SWIFT wires coming in or out of hotels…Bitcoin is the future.”
Trump indicated that bitcoin facilitates the immediate transfer of hundreds of millions with nearly zero fees.
Bitcoin vs. Gold
Eric Trump underscored bitcoin’s fixed supply as a crucial contrast to gold.
“Gold can be discovered if the price rises. With bitcoin, there will never be 21 million and one coins. There will always be 21 million,” Trump stated.
He added that, unlike gold, which is heavy and difficult to transport, bitcoin is finite, portable, and liquid. You can sell it from your phone at 11:00 p.m., he noted.
Trump highlighted that stablecoins can protect the U.S. dollar. He emphasized that cryptocurrency enables people globally, who lack faith in their governments, to hold digital U.S. dollars via stablecoins pegged 1:1 to the Treasury, providing a secure, prompt, and global hedge.
Regarding adoption, Trump pointed out that major financial institutions are finally welcoming crypto.
“Look at what all the major banks are doing… for the first time, individuals no longer need a ledger; they can purchase bitcoin through mainstream banks,” Trump explained.
Looking forward, he expressed optimism about bitcoin’s remarkable growth. “I believe it will reach $1 million eventually. I’ve never been more optimistic.”
Trump’s enthusiasm for crypto is linked to his family’s political journey. He attributed his entry into the space to being “debanked” and censored, presenting cryptocurrency as part of a larger struggle for freedom and financial independence.
American Bitcoin, he concluded, is set to be one of the leading Bitcoin companies globally.
