Host:
Bitcoin Treasury and the world's strongest performing public companies. Most companies are afraid of volatility, but we harness it. Few companies in the world can achieve compound growth at such a speed and scale, and we have no intention of slowing down. We believe we can redefine the market, and our goal is to become Japan's most intelligent star.
That’s the “Bitcoin Effect.” And this is just the beginning.
Welcome back, and now to the final fireside chat of the day. It’s my great honor to introduce my co-founder and CEO of Kindly Andy and Nakamoto, David Bailey, and Eric Trump, Executive Vice President of the Trump Organization. Please welcome David and Eric to the stage.
Well, everyone, we have a great discussion planned for today. I want to share a little story first. Last year when we were doing this conference in Hong Kong, I got a call saying, “There’s going to be a conference on Bitcoin in two weeks at Trump Tower, and you have to go buy a suit right away. "So two weeks later, we went to that conference and explained the value of Bitcoin to them. That conference triggered a series of chain reactions, which brought Eric to Hong Kong and pushed Bitcoin to $100,000. This is indeed a big deal.
I would like to start with a question. First of all, I am often asked by the media: "Is the president supporting Bitcoin just to get votes? " I thought to myself, isn't that what campaigns are all about? You're trying to get votes and promote popular causes.
But one thing I respect about your father is that he's truly an entrepreneur through and through. He sees opportunities where others don't, and that's the hallmark of a true entrepreneur. He saw an opportunity here that was worth pursuing. So I want to start with your story, not only about your father's experience, but also about yourself, Eric, how did you get involved in Bitcoin?
Eric Trump:
First of all, I want to say: Hong Kong, we love you so much! Thank you for such a warm welcome. Look at this venue, it's incredible, beyond imagination, like a rock concert!
The hospitality you've shown me since I've been here has been incredible, and I'm truly grateful. Our whole family loves it here. Speaking of which, I want to single out another special person - David. He's too modest to say it himself, but I have to. Did you know? Because of my father's political career, my entire family experienced the debanking of major financial institutions in the United States. I'll never forget that. Around that time, we began to connect with some incredible people in the cryptocurrency space, one of whom was David Bailey. He called my father one day—I just told this story to another audience—and he said, "I want you to speak at the Bitcoin conference in Nashville." My father then called me and said, "Hey, what do you think about this Bitcoin thing? I definitely believe in digital assets, but do you think I should go?" I said, "Of course you have to! You have to speak at the conference."
So, David Bailey became the first person to invite the current President of the United States to the stage at a Bitcoin conference, before he was elected and even before the media was optimistic about him. The Bitcoin community embraced him, and my father, with unprecedented enthusiasm. I have never seen such full support from any community. I sincerely hope that all of this has paid off, because we truly love this community and believe in it. I now devote 90% of my time and energy to it.
Bitcoin is the greatest asset in the world. We are changing finance, modern banking, and the entire contemporary financial system. It may be the most powerful store of value created in human history. Believe me, in three, five, or ten years, we will look back and see all of you in this room as true pioneers in this field. And all of this is thanks to this gentleman. David, we love you and are so grateful to you for starting this journey for our family and for so many people here.
David Bailey:
Eric, you're the top diplomat for "Bitcoin Nation," and Bitcoin Nation is everywhere. This is Bitcoin Nation. So well done, sir! Let's get down to business. You've thrown your heart and soul into this and have already started some entrepreneurial ventures. Eric Trump: First of all, we were supposed to have Simon on stage with us today, but due to some inconvenience, he couldn't make it. But, Simon, you were just here, I saw you! Come on, stand up and walk around the room! — everybody, look, this guy has done incredible things for Bitcoin in Asia. He's the Michael Saylor of Asia. He's incredible, and a good friend of mine. He called me a year or two ago and asked, "Eric, would you like to join my company?" I immediately said, "It would be my honor!" " I'm so proud to have worked alongside him. He's not only changed the way Japan thinks about digital assets, he's also had a profound impact on many countries in Asia, and he deserves huge credit. So, dear friend, we love you, you're awesome!
Of course, in addition to Metaplan, there's also American Bitcoin. Let's talk about American Bitcoin. One of my great partners, Mike Ho Asher, is here with us, over there.
If you know a family that truly loves America, that's us. While I love the whole world, we are Americans at heart. The United States, and Texas in particular, has one of the cheapest energy options in the world. So we founded a company called American Bitcoin, which is one of the largest Bitcoin mining companies on the planet. We mine about 3% of the world's Bitcoins every day.
We're about to go public on the Nasdaq. The average energy cost for Bitcoin mining is about $37,000, and what's the price of Bitcoin today? About Between $112,000 and $130,000. So, we're as good as, if not better than, anyone in the world at Bitcoin mining. At the same time, we're also implementing a strategic model on the other side. We're incredibly proud to have launched such an amazing business. I believe we're going to be one of the greatest Bitcoin companies in the world. And what's even cooler is, it's not just us. You see, we have Sims leading the way, we have DA leading the way, we have American Bitcoin leading the way, and Michael Saylor is really leading the way with his strategic moves. Meanwhile, sovereign nations are buying up Bitcoin like crazy, and Fortune 500 companies are buying up Bitcoin like crazy. The world's largest families and largest companies believe in this digital store of value. Everyone wants Bitcoin, and everyone is buying it. That's why I've been saying that in the next few years, Bitcoin will go to $100 billion. $100 million, no question about it. This morning I was having breakfast with some of the most powerful hotel tycoons in the region, and I was explaining to them what digital currencies are. It was a moment that really hit me how early we are in this race—and that's a huge advantage. I often hear people say, "Should I get into crypto? Have I missed the boat? Is it too late?" " Every time I can't help laughing. I tell them: We haven't even touched the true potential of Bitcoin, we haven't even touched the true potential of digital assets. Now is the best time to buy. Volatility is your friend. Buy now, close your eyes, hold for five years, and you will definitely get amazing returns. It's all so interesting and exciting.
David Bailey:
Actually, I didn't tell you this question in advance, and you probably didn't prepare an answer. But I was thinking - if anyone has access to the circle of the most interesting, richest, and most powerful people in the world, I really can't imagine anyone other than the Trump family having such an opportunity. So, in all this time, in interacting with you, what is the most interesting perspective you have heard? You have traveled to many countries to discuss Bitcoin. What surprised you the most?
Eric Trump:
Well, let me give you an example. I once spoke with someone who runs a major country, and he told me they'd use the entire energy supply of a major city to mine Bitcoin in the winter because they believed so strongly in this asset. I won't tell you which country or who, but I can tell you this: sovereign wealth funds believe in Bitcoin, the world's largest families believe in Bitcoin, the largest banks believe in Bitcoin, and large capital accumulators believe in Bitcoin. Furthermore, more and more retail investors are beginning to understand it, and more than just understand it. Many people have known about Bitcoin and cryptocurrencies for a long time, but they've never really had easy access to them. That's changing rapidly—Bitcoin is becoming more accessible to the average person every day. Major global financial institutions are beginning to custody crypto assets, and exchanges are becoming more sophisticated and user-friendly. In the past, I would complain, as someone from the hospitality industry, that exchanges were "too complicated," especially because buying crypto in DeFi was so difficult, which hindered mass adoption. But now the situation is completely reversed. Everything is becoming simpler and more accessible. You know, another company I'm working on right now is World Liberty Financial. Our goal is to make cryptocurrency accessible to everyone, even bringing the concept of hospitality to the crypto world. Now, more and more people are finding ways to buy and hold cryptocurrency. In the US, for the first time, people can now include it in their retirement plans, which means trillions of dollars in liquidity are pouring in, opening the door to digital assets. Even BlackRock is buying in now, and the world's largest banks are buying it. The world's largest companies are putting it in their treasuries with no intention of selling. Retirement accounts won't sell Bitcoin, companies won't sell Bitcoin, and sovereign wealth funds won't sell Bitcoin. And there are only 21 million Bitcoins in existence. It's the only commodity in the world that can't be infinitely increased. For example, if gold really rises to $20,000 per ounce... Dollars, I could just knock down the pillars of this building and find gold inside. But that's impossible in cryptocurrency. Bitcoin is finite, and that's what makes it so powerful. And when you're in those circles, even the people I met this morning, once their interest is piqued, you can bet they'll quickly buy Bitcoin. And those who are buying, and those who will buy, are the ones who will win the race. Because every day, the capital markets are opening up access to what may be the greatest asset ever created. David Bailey: In Nashville, your father pledged to make the United States the global Bitcoin superpower. He also laid out a pretty ambitious timeline. Many people doubted he could do it, but he's accomplished it one by one. We just passed the stablecoin bill, signed the SBR, and he's already done so much. It's really crazy. We're in Hong Kong now, and I'm not sure if I should say this, but China is actually the world's other Bitcoin superpower. It's one of the largest Bitcoin markets, with a massive number of miners, users, and coin holders. So what do you think of the US's policy efforts? And what do you think of the policy moves of the other Bitcoin superpowers around the world? Eric Trump: First of all, congratulations to everyone here, because you've undoubtedly made an incredible mark on Bitcoin and cryptocurrency. China is undoubtedly a significant force in this space, and they've forged their own path. Similarly, the Middle East is embracing cryptocurrency on a massive scale, and they're moving very quickly and with great determination. Of course, some small South American countries may not have as much purchasing power, GDP, or monetary means, but just as importantly, they're filled with passion and conviction. What they lack in financial resources, they make up for in spiritual will. However, I'm not trying to compare countries. I'm simply saying that my father truly believed in digital assets. When he took over, the US was led by a completely incompetent president (let me be frank: Biden is completely incompetent). The moment he took office, he immediately reversed America's trajectory 180 degrees, embracing the digital revolution because he understood that it was the future of finance. The result was that the US went from 0 to 100 in a flash. I believe the US has made more progress in digital assets in the past seven months than in the previous decade. The reality is that much of the world is watching the US's path and using it as a model, whether by imitating it or forging its own path. I truly believe that America is winning the digital revolution. This is all because of a man so dedicated to success, a true believer in the vision—he held Bitcoin long before he became president and saw the future. And it was precisely because he and his family experienced financial system oppression (every bank and financial institution weaponized against them) that drove us toward cryptocurrency. People always ask me: If your bank hadn't shut down your account, would you have chosen this path? My answer is: probably not. Without that experience, I might still be building hotels around the world, sticking with my old business. Of course, I still work on many hotel projects today, but I wouldn't be as fully invested in cryptocurrency as I am now. "This whole journey was driven by both the intense suppression and relentless pursuit of us simply because my father was in politics, and by the suppression of you—many of you in this room have been targeted. What was the result?" I began meeting some of the most incredible people I'd ever met in my life. They were incredibly honest, believed in the future, believed in technology, and wanted to build dynamic, great companies that would change the future of humanity. Yet, they were treated like dogs, abused for no reason. And our family was treated the same way. It wasn't fair at all. There's a saying: 'The enemy of your enemy is your friend.' That's exactly how the Trump family connected with this community—the enemy of my enemy became my friend. When you interact with these people, you discover their wisdom. When you interact with them, you also discover how outdated the old financial system is. Look, after 4:59 PM on Friday, you can't send money. You have to wait until Monday, and if you're lucky, it might not reach the recipient until Monday afternoon or Tuesday. That's simply not the way the modern world works! Finance should be available 24/7, please. It's what people expect and what they demand, and we're driving that change every day. It's been a beautiful journey, one I never imagined I'd be on. If you'd asked me ten years ago, I wouldn't have believed I'd be where I am today. But this has been perhaps the most meaningful and rewarding journey of my life." David Bailey: "Your father has put Bitcoin on the global stage. I've always believed that money connects people. The Bitcoin Nation—no matter where you live, there's a common bond. I believe Bitcoin will play a significant role in future diplomacy. I received a question this morning, and I'd like to ask you on behalf of the CNN reporter here: Your father will soon be meeting with other world leaders. Do you think Bitcoin will be a topic of discussion? Eric Trump: "Honestly, I really hope they'll talk about Bitcoin, because it's a topic I'm very passionate about. But I think they probably have more important things to discuss. But if it were me, the first thing I'd ask is, 'Can we talk about Bitcoin?' I'd even toss out the idea: Maybe we could pay tariffs with Bitcoin in the future? That would be fantastic." You see, the United States and China are actually at the forefront of cryptocurrency. This is probably a topic that their leaders understand better than anyone else in the world. But if we zoom out, and let's be honest, this is truly a community. And it's probably the most diverse community in the world. When discussing Bitcoin, you see people from different cultures, societies, languages, and religions sitting at the same table—more diverse than any other group. This truly is a global community, a community of people who believe in something so great and transformative that it will reshape the future, and that's wonderful. Through this community, I've met more incredible people from around the world than I've met in the hospitality industry. The same people you meet here will be seen at the next conference in Miami, at Consensus in Toronto, in Abu Dhabi, and everywhere else. This is a truly global community, and I believe it's a great thing for humanity. Another point that's rarely mentioned, and perhaps a little blunt, is that the traditional financial system has consistently benefited people like me while failing the vast majority of ordinary people. It only benefits those with a few zeros at the end of their accounts. They have leverage and power. They can call the top brass at the bank and shave a percentage point off their loan interest rates, waive fees, or simply borrow money that ordinary people simply can't get. The Bitcoin community is different. For the first time, it truly ensures equality for all, regardless of wealth. This is a remarkable achievement. It allows people in sub-Saharan Africa to have the same opportunities as Wall Street executives in New York. This is the first time in history that class distinctions in finance have disappeared, and this is something we should cherish. What will happen to the price of Bitcoin in the next two to three years? I've been saying this all along: There's no doubt in my mind that Bitcoin will reach a million dollars. There's absolutely no doubt about that. And by the way, I don't think it will stop there; it can go even higher. Because you have this high-velocity asset that everyone wants, but it's in extremely limited supply. It doesn't take a genius to figure out where it's going. Add to that the fact that traditional hard assets didn't have many practical uses in the past; they were just "digital gold," a store of value. And now, every day—and David probably sees this more clearly than I do—new ways are being invented: staking it, earning yield, using it for everyday consumption, using it as purchasing power. So, step by step, you've transformed digital gold, originally a store of value, into something with immense utility. Every use case for Bitcoin is amazing. Honestly, volatility is our friend. People often ask me: When should I buy? — Now! Right now! I can't tell you how many times I've told someone to buy Bitcoin, only to have them fail to act and then come back to me later and say, "I wish I had listened to you." ”
In fact, I once tweeted what could be considered “one of the best Bitcoin predictions in history.” At the time, Bitcoin was around $82,000 or $83,000, and I tweeted: Now is a good time to start buying Bitcoin. Sure enough, it quickly dropped to $79,000, even as low as $78,900, and then rallied from $79,000 to $124,000 in just 90 days. I was so accurate that I almost hit the bottom within a thousand or two thousand points.
But people come to me and say, “Why didn’t you tell me?” — I think to myself, I clearly said it publicly on Twitter to my 10 million followers worldwide, “Buy Bitcoin.” I truly believe that you should buy it, then close your eyes, hold on for the long term, and don’t sell.
I think Michael Saylor said it best: “Sell a kidney to buy Bitcoin.” He was joking, of course, but his logic was sound: buy it, hold on, and you'll get a fantastic return.
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