When Eric Trump, the co-founder of American Bitcoin and executive vice president of the Trump Organization, speaks, the world listens. Recently, he boldly proclaimed that cryptocurrency is on the brink of transforming finance, likening bitcoin to "digital gold" and foreseeing a staggering price surge to $1 million.
A Paradigm Shift in Finance
During an interview on Making Money with Charles Payne, Trump passionately argued that crypto isn't just a speculative asset but a crucial evolution in the financial realm. His conviction stemmed from personal experiences, including being unexpectedly debanked by traditional institutions, which led him to recognize the brilliance of the crypto community and the inefficiencies of conventional banking.
The Power of Bitcoin
- Bitcoin's speed and efficiency vs. traditional banking
- Bitcoin's potential to revolutionize financial transactions
- The role of bitcoin in enhancing global financial interactions
Trump vividly depicted the sluggish nature of traditional banking and highlighted how bitcoin could streamline financial processes. He shared anecdotes of delayed mortgage approvals and cumbersome wire transfers, contrasting them with the seamless and swift nature of bitcoin transactions.
Bitcoin: A Modern Gold Standard
Trump underscored bitcoin's unique value proposition by emphasizing its fixed supply, contrasting it with the fluctuating availability of gold. He stressed the portability and liquidity of bitcoin, painting a vivid picture of selling bitcoin effortlessly from a smartphone at any time of the day.
The Rise of Stablecoins
- Benefits of stablecoins in stabilizing the U.S. dollar
- Global accessibility through stablecoins
- Role of cryptocurrency in offering financial security
Furthermore, Trump discussed the role of stablecoins in safeguarding currencies like the U.S. dollar and enabling individuals worldwide to access a secure and fast digital asset pegged to traditional currencies. He highlighted the increasing adoption of cryptocurrency by major financial institutions, signaling a monumental shift towards mainstream acceptance.
A Bright Future for Bitcoin
Looking ahead, Trump exuded confidence in bitcoin's exponential growth, predicting a remarkable climb to $1 million. His unwavering optimism and belief in the transformative power of cryptocurrency are not just financial but political, framing it as a tool for freedom and financial autonomy.
As Eric Trump's vision unfolds, it's evident that American Bitcoin is poised to lead the charge as one of the premier cryptocurrency companies globally.
For more insights, check out the full article here.
Frequently Asked Questions
Should You Buy Gold?
In times past, gold was considered a safe haven for investors in times of economic trouble. Many people are shifting away from traditional investments like bonds or stocks to instead look toward precious metals such gold.
The gold price has been in an upward trend for the past few years, but it remains relatively low compared with other commodities like silver or oil.
Experts believe this could change soon. Experts predict that gold prices will rise sharply in the wake of another global financial collapse.
They also mention that gold is becoming more popular due to its perceived worth and potential return.
These are some important things to remember if your goal is to invest in gold.
- The first thing to do is assess whether you actually need the money you're putting aside for retirement. You can save for retirement and not invest your savings in gold. Gold does offer an extra layer of protection for those who reach retirement age.
- Second, ensure you fully understand the risks involved in buying gold. Each offers varying levels of flexibility and security.
- Remember that gold is not as safe as a bank account. It is possible to lose your gold coins.
You should do your research before buying gold. You should also ensure that you do everything you can to protect your gold.
What is a gold IRA account?
The Gold Ira Accounts are tax-free investment options for those who want to make investments in precious metals.
Physical gold bullion coin can be purchased at any time. You don't have a retirement date to invest in gold.
An IRA allows you to keep your gold forever. Your gold holdings won't be subject to taxes when you pass away.
Your heirs can inherit your gold and avoid capital gains taxes. And because your gold remains outside of the estate, you aren't required to include it in your final estate report.
To open a gold IRA, you will first need to create an individual retirement account (IRA). Once you've completed this step, an IRA administrator will be appointed to your account. This company acts like a middleman between the IRS and you.
Your gold IRA custodian can handle all paperwork and submit necessary forms to IRS. This includes filing annual reports.
After you have created your gold IRA, the only thing you need to do is purchase gold bullion. Minimum deposit required is $1,000 However, you'll receive a higher interest rate if you put in more.
Taxes will be charged on gold you have withdrawn from an IRA. If you take out the whole amount, you'll be subject to income taxes as well as a 10 percent penalty.
A small percentage may mean that you don't have to pay taxes. However, there are exceptions. However, there are exceptions. If you take 30% or more of your total IRA asset, you'll owe federal Income Taxes plus a 20% penalty.
Avoid taking out more that 50% of your total IRA assets each year. A violation of this rule can lead to severe financial consequences.
What is the cost of gold IRA fees
The Individual Retirement Account (IRA), fee is $6 per monthly. This fee includes account maintenance fees as well as any investment costs related to your selected investments.
If you wish to diversify your portfolio, you may need to pay additional fees. These fees will vary depending upon the type of IRA chosen. Some companies offer checking accounts for free, while others charge monthly fees for IRA account.
Many providers also charge annual management fees. These fees range between 0% and 1 percent. The average rate for a year is.25%. However, these rates are typically waived if you use a broker like TD Ameritrade.
Can I buy Gold with my Self-Directed IRA?
Your self-directed IRA can be used to purchase gold, but first you need to open an account with a brokerage firm such as TD Ameritrade. You can also transfer funds from an existing retirement fund.
The IRS allows individuals to contribute as high as $5,500 ($6,500 if they are married and jointly) to a traditional IRA. Individuals may contribute up to $1,000 ($2,000 if married, filing jointly) directly into a Roth IRA.
If you do decide you want to invest your money in gold, you should look into purchasing physical bullion instead of futures contracts. Futures contracts, which are financial instruments based upon the price of gold, are financial instruments. They allow you to speculate on future prices without owning the metal itself. But physical bullion refers to real gold and silver bars you can carry in your hand.
How much gold should you have in your portfolio?
The amount you make will depend on the amount of capital you have. A small investment of $5k-10k would be a great option if you are looking to start small. Then as you grow, you could move into an office space and rent out desks, etc. This way, you don't have to worry about paying rent all at once. You just pay per month.
Consider what type of business your company will be running. My company is a website creator. We charge our clients about $1000-2000 per monthly depending on what they order. This is why you should consider what you expect from each client if you're doing this kind of thing.
You won't get a monthly paycheck if you work freelance. This is because freelancers are paid. This means that you may only be paid once every six months.
Before you can determine how much gold you'll need, you must decide what type of income you want.
I recommend starting with $1k-$2k in gold and working my way up.
Statistics
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
External Links
bbb.org
investopedia.com
forbes.com
- Gold IRA, Add Sparkle to Your Retirement Nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
irs.gov
How To
Online buying gold and silver is the best way to purchase it.
First, understand the basics of gold. Gold is a precious metallic similar to Platinum. It's very rare, and it is often used as money for its durability and resistance. It's hard to use, so most people prefer buying jewelry made out of it to actual bars of gold.
There are two types today of gold coins. One is legal tender while the other is bullion. Legal tender coins are designed for circulation in a country. They often have denominations like $1 or $5 or $10.
Bullion coins can only be used as investment currency. They increase in value due to inflation.
They are not exchangeable in any currency exchange system. If a person purchases $100 worth of gold, 100 grams of the gold will be given to him/her. The $100 value is $100. Each dollar spent earns the buyer 1 gram gold.
You should also know where to buy your gold. There are a few options if you wish to buy gold directly from a dealer. You can start by visiting your local coin shop. You can also try going through a reputable website like eBay. You might also consider buying gold from an online private seller.
Individuals who sell gold at wholesale and retail prices are called private sellers. Private sellers will charge you a 10% to 15% commission for every transaction. This means that you will get less back from a private seller than if you sell it through a coin shop or on eBay. However, this option is often a great choice when investing in gold since it gives you more control over the item's price.
Another option for buying gold is to invest in physical gold. Physical gold is much easier to store than paper certificates, but you still have to worry about storing it safely. It is important to keep your physical gold safe in an impenetrable box such as a vault, safety deposit box or other secure container.
To purchase gold by yourself, you can visit a bank and a pawnshop. A bank can provide you with a loan to cover the amount you wish to invest in gold. Small establishments that allow customers to borrow money for items they have brought are called pawnshops. Banks tend to charge higher interest rates, while pawnshops are typically lower.
You can also ask for help to purchase gold. Selling gold is simple too. It is easy to sell gold by contacting a company like GoldMoney.com. You can create a simple account immediately and begin receiving payments.
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By: Micah Zimmerman
Title: Eric Trump Predicts Bitcoin Soaring to $1 Million: A Revolutionary Outlook
Sourced From: bitcoinmagazine.com/politics/the-floodgates-are-opening-eric-trump-sees-bitcoin-hitting-1-million
Published Date: Tue, 30 Sep 2025 15:43:04 +0000
