In his remote speech from New York at an event organized by the cryptocurrency exchange Upbit in Seoul, Eric Trump called Bitcoin the ideal risk-hedging tool compared to traditional real estate investments. The executive vice president of Trump Organization emphasized that due to its limited supply of 21 million coins, Bitcoin surpasses gold and traditional assets.
Eric Trump is confident that despite the recent rise of Bitcoin and its achievement of a new historical maximum, it is not too late for investors to enter the crypto market. It is currently at the earliest stage imaginable — cryptocurrency has finally begun to be used widely beyond the realm of decentralized finance (DeFi), the businessman emphasized. Therefore, he urged people to invest in digital assets before a massive bull rally in the crypto market occurs.
"In the next decade, we will look back and say that we were pioneers rethinking modern finance," said the president's second son.
Eric Trump highlighted the practical advantage of cryptocurrency over traditional banks. He cited a transaction in Bitcoin worth $200 million, which cost only 60 cents to complete and was finalized in a matter of seconds. A similar transfer through regular banks could take several weeks and would incur a fee of about 3% of the amount. The head of Trump Organization warned that countries unwilling to adopt digital assets will fall behind in the global financial race. He is confident that cryptocurrencies can accelerate global progress, just as the emergence of railroads and automobiles once did.
Earlier, Eric Trump suggested that if banks refuse to implement blockchain in their operations, they could lose their clients and become obsolete. Trump remains true to his prediction that sooner or later Bitcoin will rise to $1 million.
