Eric Trump, the son of U.S. President Donald Trump, expressed enthusiasm and confidence in Bitcoin at the SALT conference in Jackson Hole on Wednesday. He showcased his belief by stating that Bitcoin (BTC) will eventually be worth over $1 million.
Eric, also a co-founder of American Bitcoin, revealed that he spends more than half of his time on cryptocurrency-related projects. Eric also reaffirmed his short-term prediction that Bitcoin could reach $175,000 by the end of the year, not just based on price speculation but also on systemic flaws in the traditional financial system.
The Wyoming Blockchain Symposium, or SALT conference, is hosted by SALT and Kraken in Jackson Hole from August 18 to 21, aiming to spark innovative thinking in digital asset management and promote blockchain adoption.
Notable speakers include Eric Trump, who discussed the future of Bitcoin, alongside Senator Cynthia Lummis and Senator Tim Scott, both of whom shared insights on decentralized finance. This invitation-only event gathered 350 leaders to promote innovation in the global finance sector.
Also at this event, self-identified as a "Bitcoin maxi," Trump provided several examples to support his claim that the current traditional banking system is outdated and ready for a transformation. He emphasized issues related to payment timing, delays in international transactions, and inefficiencies that he believes blockchain technology can address.
Personal Bets on the Future of Bitcoin
Trump's optimistic view is not just empty talk. Earlier this year, Eric Trump co-founded American Bitcoin, a cryptocurrency mining company that recently merged with American Data Center, a company he co-owns with his brother Donald Trump Jr. This new company is currently preparing to list on Nasdaq through a merger with Gryphon Digital Mining. The Trump brothers hold 20% of the shares, while the Canadian mining company Hut 8 owns the remaining 80%.
Trump sees cryptocurrency as a core part of the future economy and has expressed confidence in Bitcoin. His views align with those of Coinbase CEO Armstrong, who also predicted this week the possibility of Bitcoin prices reaching $1 million each by 2030.
