Eric Trump, the son of President Donald Trump, believes that Bitcoin will eventually be worth more than 1 million dollars. Eric Trump, who co-founded the bitcoin mining company American Bitcoin earlier this year, reaffirmed his excitement for bitcoin during an appearance at the SALT conference in Jackson Hole on Wednesday.
He even calls himself a "bitcoin maxi."
The entrepreneur and executive vice president of the Trump Organization stated that he currently spends more than 50% of his time on cryptocurrency-related projects.
He stated that he believes this cryptocurrency will reach a price of 175,000 dollars per token by the end of the year, similar to his previous prediction.
Trump shared some personal stories to highlight the weaknesses in the current financial system and how bitcoin and blockchain technology can address those issues, including faster transactions and payments.
American Bitcoin, a company that merged with the American Data Center owned by Eric and his brother Donald Trump Jr. in March, is expected to be listed on Nasdaq through a merger with Gryphon Digital Mining (GRYP).
The two brothers own 20% of the company while the bitcoin mining company Hut 8 holds the remaining 80%.
Trump's comments came just hours after Coinbase CEO Brian Armstrong made a similar prediction.
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