Eric Trump Doubles Down On $1M Bitcoin Forecast, Calls Banking A ‘Ponzi Scheme’
The World Liberty Forum held this week at Mar‑a‑Lago featured remarks from President Donald Trump’s sons, Eric Trump and Donald Trump Jr., who used the occasion to reaffirm their sturdy help for Bitcoin (BTC) and repeat their lengthy‑standing $1 million worth projection for the cryptocurrency.
‘Never Been More Bullish On Bitcoin’
Speaking on Wednesday, Eric Trump described himself as “an enormous proponent of Bitcoin” and stated he has by no means felt extra optimistic concerning the asset’s future. “I’ve by no means been extra bullish on bitcoin in my life,” he stated, arguing that the digital foreign money has the potential to ultimately attain $1 million per coin.
However, amid falling Bitcoin costs, Eric acknowledged the asset’s volatility and characterised worth swings as typical for an rising know-how with vital development potential.
In his view, Bitcoin’s upside contrasts sharply with conventional fastened‑earnings investments corresponding to municipal bonds or US Treasuries (T-Bills), which typically supply decrease yields.
At the identical time, Donald Trump Jr. supplied sharp criticism of the normal banking system, calling it a “Ponzi scheme” and arguing that the household’s transfer into crypto was not pushed by development‑chasing however by necessity.
Trump Brothers Accuse Banks Of Political ‘Debanking’
During an interview with CNBC on the discussion board, Donald Trump Jr. stated his household turned to digital property after banks closed “a whole lot of accounts” belonging to the Trump Organization in early 2021.
“You know, we didn’t get into crypto as a result of we had been on the vanguard,” Trump Jr. stated. “We bought into it out of necessity. They mainly compelled us into it.”
The brothers attributed the account closures to the political fallout following the January 6, 2021, riot on the US Capitol, when supporters of their father stormed the constructing whereas contesting the 2020 presidential election outcomes.
They additionally claimed that banks had “debanked” different smaller shoppers over their conservative political opinions. Eric Trump stated their crypto initiative, World Liberty Financial, is a part of a broader effort to reshape the monetary system.
“We’re making an attempt to modernize finance,” he stated, including that the household felt ostracized by mainstream establishments throughout that interval. “We’re probably the most canceled folks on this planet in 2020, 2021,” he stated.
As of this writing, Bitcoin remains to be consolidating at roughly $66,258. This represents a 50% distinction from the present buying and selling costs and the all-time high of $126,000, which was reached final October.
Featured picture from OpenArt, chart from TradingView.com
