On Jan. 2, 2025, Eric Trump, govt vice chairman of the Trump Group and son of U.S. President-elect Donald Trump, met with Michael Saylor, govt chairman of MicroStrategy, at Mar-a-Lago to debate Bitcoin’s future.
A Shared Imaginative and prescient for Bitcoin
Eric Trump has emerged as a vocal proponent of Bitcoin in current months. Talking at the Bitcoin MENA 2024 convention in Abu Dhabi on Dec. 9, he predicted that Bitcoin would surpass $1 million per coin, describing it as the cornerstone of a monetary revolution. Trump emphasised Bitcoin’s distinctive capacity to hedge towards inflation, political instability, and pure disasters, calling it a “international asset.” He highlighted its decentralized nature and restricted provide of 21 million cash as key elements underpinning its worth, contrasting it with the inefficiencies of conventional finance.
Eric additionally lauded his father’s pro-crypto stance, labeling him as the most pro-crypto president in U.S. historical past. He credited President-elect Donald Trump with reviving the cryptocurrency sector and including $1 trillion to Bitcoin’s market worth, claiming this resurgence was pushed by the administration’s promise to guard digital property from overregulation. “America goes to guide the means in the digital revolution,” Eric proclaimed at the convention, drawing enthusiastic applause from the viewers.
Michael Saylor, a steadfast advocate for Bitcoin, has positioned MicroStrategy as a pioneer in company Bitcoin adoption. Since its first Bitcoin buy on Aug. 11, 2020, MicroStrategy has aggressively amassed Bitcoin as a treasury reserve asset. On Dec. 30, 2024, Saylor introduced on X that MicroStrategy had acquired an extra 2,138 BTC for about $209 million at a median value of $97,837 per Bitcoin. As of Dec. 29, 2024, the firm held 446,400 BTC, acquired for roughly $27.9 billion at a median value of $62,428 per Bitcoin.
On Jan. 2, Alex Thorn, Head of Analysis at Galaxy, identified that MicroStrategy ended 2024 as the best-performing main asset globally, whereas Bitcoin ranked third. On a risk-adjusted foundation, measured by the Sharpe ratio, MicroStrategy once more secured the prime spot, with Bitcoin sustaining its place as third. Notably, two of the prime three property in 2024 have been immediately tied to Bitcoin, highlighting the cryptocurrency’s robust efficiency and the effectiveness of Michael Saylor’s Bitcoin technique.
Saylor’s management has not solely redefined MicroStrategy’s company technique but in addition established Bitcoin as a viable asset for institutional traders. His affect has been instrumental in advancing the narrative of Bitcoin as a digital gold and a hedge towards financial uncertainty.
Saylor’s dedication to Bitcoin—as demonstrated by MicroStrategy’s large holdings—has set a benchmark for company adoption. In the meantime, Eric Trump’s vocal assist for Bitcoin as a “international asset” might encourage additional institutional and governmental curiosity in the cryptocurrency.
As President-elect Donald Trump prepares to take workplace, his administration’s strategy to cryptocurrency regulation will doubtless form the trajectory of the trade. Eric Trump’s advocacy and the Trump household’s affiliation with Bitcoin might pave the means for a extra favorable regulatory surroundings, fostering innovation and adoption in the blockchain area.
Featured Picture through Pixabay
