Eric Trump, President-elect Donald Trump’s son and executive chairman of MicroStrategy, Michael Saylor recently met at Mar-a-Lago, which is Trump’s private club in Palm Beach, Florida. Eric Trump later shared a picture on his X account with the two of them together and captioned the picture “Two friends, one passion: Bitcoin.” and this post has grabbed a great deal of attention within the community.
What Does This Mean?
After the meeting between, Eric Trump and Michael Saylor, who runs a company that holds over 150,000 Bitcoins and he has been very vocal about the potential of Bitcoin, the caption on the X post, indicates the acceptance of the cryptocurrency on a large scale by Trump administration. From Eric Trump’s recent appearances, it seems that he is trying to promote the cryptocurrency for greater adoption.
Bitcoin’s Minor Price Surge
After the picture was posted by Eric Trump on his X account, the token saw a small surge in its price. Currently the token price stands at $96,178.34 with a surge of 0.3% in the last 24 hours. It is being speculated that this endorsement by Eric Trump will lead to an increased investor interest. However, through historic data it is clear that such moves do provide an uptick for the token for a very small period of time and the price dips quickly.
What Next’s for Bitcoin?
With the upcoming Trump administration, the price of the Bitcoin token as per analysts, is anticipated to rise above $100,000 mark. Interestingly, Eric trump in his previous interview had predicted that the price of the Bitcoin token may hit $ 1 million, calling it cornerstone of revolution but it is noteworthy that during Trump administration back in 2017 to 2021, the Bitcoin token surged from $1000 to $30,000 by 2020 and the same surge can be expected this time along with crypto-friendly regulations in the coming weeks.
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