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Eric Trump, co-founder of American Bitcoin and executive vice president of the Trump Organization, declared that crypto is set to revolutionize finance, calling bitcoin \u201cdigital gold\u201d and predicting it could eventually hit $1 million.\u00a0<\/p>\n
Speaking on Making Money<\/em> with Charles Payne, Trump argued<\/a> that crypto and bitcoin is not speculative, but a necessary evolution in the traditional financial system.<\/p>\n \u201cMy epiphany came when I got debanked by everyone,\u201d Trump<\/a> said. \u201cCapital One sent me a letter in the middle of the night stripping 300 bank accounts from [our properties] for doing absolutely nothing wrong.\u201d<\/p>\n Trump told Payne that he met people in the crypto space and realized how brilliant they were and how \u201cantiquated modern finance\u201d had become.<\/p>\n Trump painted a picture of traditional banking as slow and cumbersome and how crypto could speed up financial interactions.<\/p>\n \u201cIt took me 120 days to get a mortgage from a bank I\u2019d banked with for 25 years,\u201d he said. \u201cEvery week I was chasing SWIFT wires coming into or leaving hotels\u2026Bitcoin is the way of the future.\u201d\u00a0<\/p>\n Trump said that bitcoin allows the instant transfer of hundreds of millions with almost no fees.<\/p>\n Eric Trump emphasized bitcoin\u2019s limited supply as a key differentiator from gold.<\/p>\n \u201cGold can be found if the price goes up. With bitcoin, there will never be 21 million and one coins. There will always be 21 million,\u201d Trump said.\u00a0<\/p>\n Trump said that unlike gold, which is heavy and cumbersome to move, bitcoin is finite, portable, and liquid. You can sell it from your phone at 11:00 p.m., he said.<\/p>\n Trump emphasized that stablecoins can serve as a way to safeguard the U.S. dollar. He pointed out that cryptocurrency allows people worldwide who lack trust in their governments to hold digital U.S. dollars through stablecoins pegged 1:1 to the Treasury, offering a secure, fast, and global hedge.<\/p>\n On adoption, Trump noted that major financial institutions<\/a> are finally embracing crypto.\u00a0<\/p>\n \u201cYou look at what all the major banks are doing\u2026 for the first time, people don\u2019t need a ledger; they can buy bitcoin through mainstream banks,\u201d Trump said.\u00a0<\/p>\nBitcoin vs. Gold<\/h2>\n