Eric Trump, the son of former US President Donald Trump and Executive Vice President of the Trump Organization, recently shared his views on Bit in an interview with Bit Magazine at the "2024 Bit Middle East and North Africa Conference" (Bit MENA 2024 Conference). He emphasized the transformative potential of Bit and compared it to the cornerstone of his family's business - real estate - while highlighting the unique advantages of Bit as a hedge tool for traditional investors.
Eric Trump said he had spent his life on construction sites and described the tangibility and dynamism of real estate. However, he also recognized the limitations of physical assets, such as lack of liquidity and difficulty in adapting to global market changes.
Trump pointed out: "If I have a hotel, it might take me five years to build, and if I want to sell it, it might take another two years to sell that real estate." He acknowledged the advantages of real estate, including leverage and tax benefits, but also pointed out a significant drawback: "Real estate lacks liquidity."
It is in this regard that Trump sees Bit as a revolutionary alternative, asking, "What could be a better hedge for real estate than an instantly liquid asset?"
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ToggleViewing Bit as a portable and easily accessible asset
Eric Trump further elaborated on the portability of Bit compared to real estate, saying: "I can't take the Trump Tower on 5th Avenue and 57th Street and move it to London, Singapore, or the UAE, even if the markets are better there. Bit is portable - it's digital."
He also praised Bit for eliminating intermediaries and reducing costs, stating "no brokers, bankers, lawyers, title companies, middlemen," and unlike real estate, Bit has no risk of physical damage from fires, floods, or natural disasters.
Democratization of investment opportunities
In addition to the technical advantages, Trump also emphasized the role of Bit in democratizing wealth accumulation opportunities. Real estate investments often require significant capital and expertise, while Bit provides an entry point for those who may not have abundant resources.
"Building or buying a house is out of reach for 99% of people," Trump said. "They can't build a 70- or 80-story building on 5th Avenue in New York, the cost of entry is too high." However, as an asset, Bit is not only easily accessible but has historically provided higher returns than most real estate investments.
Trump also highlighted the potential of Bit to empower people in developing countries, stating:
"Bit gives people who otherwise wouldn't have a chance the opportunity to invest, succeed, and potentially even change their lives."
As a proponent of long-term investment strategies, Trump confidently expressed his belief in the future of Bit, stating: "There's no doubt, it's the future, and those who embrace it early will succeed, and those who don't, as I said before, will be left behind."
