Eric Trump says Bitcoin’s price could reach $1 million as the incoming administration plans to implement crypto-friendly policies. Speaking at the Bitcoin MENA conference in Abu Dhabi on December 10, 2024, the son of President-elect Donald Trump outlined plans for reduced regulations and lower taxes in the crypto sector.
Trump pointed to bitcoin’s recent surge past $100,000 as evidence of increasing adoption, attributing the rally to his father’s election victory and announced regulatory changes, including the appointment of Paul Atkins to lead the U.S. Securities and Exchange Commission (SEC).
During his address at the Abu Dhabi National Exhibition Centre, Trump compared Bitcoin’s adoption to the early days of email and text messaging, emphasizing its benefits of instant liquidity and borderless transactions.
Pro-Crypto Agenda in Washington
The younger Trump detailed plans to position the United States as a leading crypto hub. “My father is committed to ensuring that cryptocurrencies are not overregulated or stifled; the focus will be on innovation and opportunity,” Trump said.
He criticized Gary Gensler’s tenure at the SEC, characterizing it as restrictive for the crypto industry, while expressing optimism about growth under new leadership.
Trump Family’s Crypto Involvement
The Trump family’s cryptocurrency connections extend beyond policy through their involvement with World Liberty Financial (WLF), a blockchain platform co-founded with Steve Witkoff, the incoming Middle East envoy. President-elect Trump holds a stake in WLF, which includes 22.5 billion tokens and revenue-sharing rights.
The Trump administration’s approach to crypto regulation could significantly influence Bitcoin’s future trajectory. Market observers note that regulatory clarity under the new administration may accelerate institutional adoption of digital assets.