Son of Donald Trump, Eric Trump has bet that Bitcoin will reach $1 million in value.
Speaking at the ongoing Bitcoin MENA Conference in Abu Dhabi, Trump expressed his love for Bitcoin and while making the ambitious price prediction.
U.S. can be crypto superpower
In addition to predicting Bitcoin can reach a price of $1 million, Trump also expressed confidence that the U.S. can become a crypto superpower if ‘sensible’ regulation is put in place.
He drew his confidence from the sentiment of his father, the president-elect of the U.S., Donald Trump, who has clearly identified with crypto. He stated that:
“Now that he’s won, you’re going to have the most pro-crypto president. Make Bitcoin Great Again”.
Indeed, Donalt Trump’s victory at the presidential polls has brought lots of optimism in the crypto space, raising the hope for a crypto-friendly regulatory environment.
There are also hints that the government may create a Bitcoin treasury, as well as appoint strategic crypto people in power, making it a historic time indeed for crypto.
Other top speakers at the MENA conference include former head of Binance, Changpeng Zhao, Tron founder Justin Sun, and various leaders from the MENA region.
Current crypto situation
The crypto market is currently in a major correction which analysts believe is a shakeout for weak hands.
At the time of reporting, Bitcoin has dropped to $97,700, but altcoins are in a worse state. XRP for example has dropped by over 20%, as well as Cardano which are the top losers.
Some analysts believe Bitcoin may correct even further, but it isn’t all bad. One analyst, Micahel van de Poppe believes this may initiate the next alt season if Bitcoin’s dominance drops and money starts to slow into altcoins.
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