Eric Trump predicts Bitcoin will hit $1 million, highlighting growing institutional interest and American Bitcoin’s Nasdaq debut after Asia Summit.
At the Asia Bitcoin Summit in Hong Kong, Eric Trump, son of U.S. President Donald Trump, made a bold prediction. He said Bitcoin will definitely reach $1 million in the coming years. Additionally, he believes it could climb even higher. Speaking to a large crowd, Eric called Bitcoin “digital gold.” He explained that it is a rare asset that is well-priced. Moreover, he highlighted that large players such as sovereign states, Fortune 500 companies, and influential families in the world have already invested in Bitcoin. This represents its increasing popularity.
Eric Trump Remains Bullish Despite Bitcoin Dip
However, Eric mentioned that the cryptocurrency industry is young. He said mass adoption of digital money is yet to come. So, English Language Learners, Bitcoin’s existing investors are early adopters. He said the future of finance rests with digital currencies and the world is a long way from fully understanding their potential. For example, he said institutional demand is growing quickly. However, Bitcoin’s worth is still not known to many market participants.
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Eric also spoke about his family’s experience with the crypto world. He co-founded American Bitcoin, a Bitcoin mining company along with his brother Donald Trump Jr. Recently, Gryphon Digital Mining, a U.S.-based Bitcoin miner, shareholders voted to accept a reverse merger with American Bitcoin. As a result, the merger will result in the ABTC ticker combining on the Nasdaq exchange starting in September 2025. This merger reinforces American Bitcoin’s position in the space. Further, it might enhance the company’s access to the capital for expansion.
Eric is still optimistic, even after a slight down turn for Bitcoin. He wrote that the current market correction is transient. For example, Bitcoin peaked at about $124,500 in mid-August, but it is now trading around $110,000. Still, Eric thinks that the long-term trends are in his favor for his $1 million prediction. As drivers, he noted increasing institutional and governmental interest. Moreover, he pointed out Bitcoin’s limited supply, which guarantees an increase in value as demand grows.
Eric Trump Dismisses Ethics Concerns in Bitcoin Business
Meanwhile, the Asia Bitcoin Summit saw more than 20,000 attendees, highlighting the region’s growing interest in cryptocurrencies. Hong Kong specifically is emerging as a crypto hub. Nevertheless, some state authorities backed out of the event because of their political sensitivities. Still, Eric’s speech got the attendees all fired up. He also made compliments about China’s role in the crypto space despite 2021’s ban on trading and mining. He tagged China as “a hell of a power” in the development of cryptocurrencies.
On the other hand, there have been criticisms surrounding potential conflicts of interest from the Trump family’s crypto endeavors. They are concerned over the impact of the U.S. political association in international markets. However, Eric did not worry about these concerns. He emphasized the separation of his family’s business from politics. For instance, he told the media that his work is informed by strong ethics advisors.
In conclusion, Eric Trump’s ambitious forecast at the Asia Bitcoin Summit has sent ripples of excitement through the crypto community. His belief in Bitcoin’s future, along with American Bitcoin’s forthcoming Nasdaq listing, serves as a testament to the Trump family’s deep-rooted commitment to digital assets. As institutional adoption continues, the road towards Bitcoin’s $1 million seems ambitious yet feasible.
