Eric Trump describes being debanked by Capital One and contrasts slow traditional banking with Bitcoin's instant global settlement. He calls Bitcoin digital gold with a fixed 21 million supply and predicts it will reach $1 million per coin, claiming Fortune 500 companies are racing to acquire it.
Eric Trump, Donald Trump's son, has been going on some type of marketing campaign for crypto because he's just all over the public internet screaming about Bitcoin and blockchain technology.
Eric, one of the things you said in this New York Post article that leaps out at everyone is that crypto is America's financial future. And I'm curious when you had this epiphany, because a lot of people have had the same epiphany along the way.
Yeah, well, Charles, I had the epiphany. I think you saw it and you probably reported on it better than anybody when I got debanked by everyone. I mean, you know, Capital One sent me a, you know, sent me a letter in the middle of the night stripping 300 bank accounts from, you know, golf courses and hotels, you know, our properties as well as anybody, for doing absolutely nothing. Wrong. And then all of a sudden I started meeting people in the crypto space and I realized how brilliant they were. I realized how antiquated modern finance is. It took me 120 days to get a mortgage from a bank that I had banked with literally for 25 years. Every single week I'm chasing a, you know, a SWIFT wire transfer. And if you don't send it by 4:00 on a Friday, it's not getting there until like Monday afternoon. And you're sitting there saying, why can't I send hundreds of millions of dollars worth of Bitcoin overseas instantly or receive it instantly with virtually no fees? You know, Bitcoin's the way of the future. There's no doubt in my mind cryptocurrency is going to replace traditional finance, TradFi. I've never been so clear about something. I've never been able to see something so clearly in my life. And it's been a lot of fun to be part of this. Bitcoin is digital gold, just is better, right? I mean, there's limited supply. You know, Charles, if gold ever goes to $10,000 an ounce, you know, you and I will bust down the walls of the building you're in right now. We'll find gold in that concrete, right? You can always find more supply if the price goes up. And with Bitcoin, there will never be, you know, 21 million and 1 Bitcoin. There will be 21 million. So it's finite. Every family in the world wants it. Every Fortune 500 company is starting to custody it. You know, so it's gold, but you can actually transport it. You know, how do you— how do you cash out gold? You take it down to the local pawn shop and, you know, they melt it down. It's not practical. I mean, at 11 o'clock on a Saturday night while having dinner with your wife, you know, you can sell it. It's 24 hours. It has immediate liquidity. It's one of the greatest assets of our time. We are on the 1-yard line of cryptocurrency and we've got another whole field to run, as explosive as it's been. So I do think it hits $1 million eventually. I have never been more bullish on anything in my life. And I can tell you, I talk to the biggest companies, the biggest families in the world, and every single one of them is racing to buy Bitcoin.
To think that just a couple of years ago, people were calling cryptocurrency a scam. To the president of the United States' son actively promoting, making claims that Bitcoin is going to be $1 million per coin, creating Bitcoin companies, and basically saying that other countries in the world need to adopt their stablecoin. I don't know if you guys knew this, but Trump actually made a stablecoin, US One. His family made a stablecoin, and so they created a stablecoin too. It's coming, guys. The tidal wave is coming.
