Eric Trump, the son of President-elect Donald Trump and executive vice president of the Trump Organization, predicted before an audience in Abu Dhabi on Tuesday that Bitcoin will hit $1 million.
“A lot more eyes are going to be opened when Bitcoin hits $1 million,” the younger Trump said, addressing the Bitcoin MENA conference, co-organized by BTC Inc. and Capital Events — a subsidiary of the Abu Dhabi Developmental Holding Company (ADQ) sovereign wealth fund.
Bitcoin broke the $100,000 threshold earlier this month and has nearly doubled since Trump’s November win.
A Pro-Crypto Administration
Trump stated that his father would be “the most pro-crypto president.” He added that Bitcoin “is the future of finance” and pledged that the United States will lead what he calls a “digital revolution.”
This proclamation is one that the Trump family has made before. At a Bitcoin event this summer, President-elect Trump vowed to make the U.S. the “crypto capital of the planet and the Bitcoin superpower of the world.”
The incoming president has embraced the cryptocurrency world both politically and in business, even launching his own cryptocurrency venture, World Liberty Financial.
This month, the Trump family patriarch announced that he would nominate Paul Atkins, a cryptocurrency supporter and former SEC commissioner, as the chair of the Securities and Exchange Commission.
The move signals a major shift in Washington’s regulation of cryptocurrencies, with Atkins known for advocating for a lighter regulation of emerging financial technologies.
MAGA Goes All-In On Crypto in Abu Dhabi
Other speakers at the event included Paul Manafort, the Trump 2016 presidential campaign manager, and Steve Witkoff, recently announced as the president-elect’s future special envoy to the Middle East.
Manafort was convicted in 2018 on multiple charges, including bank and tax fraud, as well as illegal lobbying. He was later pardoned by Trump in 2020.
Eric Trump’s appearance at the Abu Dhabi event reflects the growing financial ties of the Trump family, including the president-elect’s son-in-law Jared Kushner, to the Middle East.
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