Eric Trump, government vice chairman of the Trump Group and son of U.S. President Donald Trump, made daring predictions about bitcoin’s future value trajectory throughout his look on the Bitcoin Asia convention in Hong Kong on Friday, telling attendees that the Bitcoin value will “undoubtedly” attain $1 million.
“There’s no query bitcoin hits $1 million,” Eric Trump declared throughout a panel dialogue with David Bailey, citing surging institutional demand and its restricted provide as key drivers for the astronomical value goal. The Bitcoin value at the moment trades round $110,000, having risen 18% this 12 months, however nonetheless stays nicely under Trump’s formidable forecast.
Eric Trump’s look on the two-day Hong Kong occasion, which attracted greater than 20,000 attendees—triple final 12 months’s numbers—highlighted the rising world affect of the Bitcoin trade and the Trump household’s deepening involvement in it.
Throughout his speak, Trump additionally praised China’s position within the Bitcoin and crypto ecosystem, calling the nation a number one pressure in Bitcoin and crypto regardless of Beijing’s ban on crypto buying and selling since 2021.
The feedback come because the Trump household has considerably expanded its Bitcoin and crypto ventures over the previous 12 months. Eric Trump and his brother Donald Trump Jr. co-founded American Bitcoin, a mining operation that’s roughly 20% owned by the Trump brothers and the rest by Hut 8. The corporate lately raised $220 million and is planning a September Nasdaq debut by means of its merger with Gryphon.
Eric Trump emphasised the dramatic shift in U.S. crypto coverage underneath his father’s administration, claiming extra progress has been made on Bitcoin and crypto within the seven months since President Trump’s return to workplace than within the earlier decade. “We went from 0 to 100 instantaneously,” he mentioned, describing America as “successful the digital revolution” because of sturdy political backing and institutional assist from Wall Avenue corporations, sovereign wealth funds, and retirement accounts.
Trump additionally highlighted his involvement with Japanese Bitcoin treasury firm Metaplanet, the place he serves on the board of advisors. He praised the corporate’s president and CEO, Simon Gerovich, throughout his panel dialogue, reflecting the rising worldwide community of Bitcoin-focused enterprises.
Eric Trump’s bullish Bitcoin value prediction displays rising institutional confidence in its long-term prospects, and the Bitcoin Asia convention underscored Hong Kong’s rising position within the world Bitcoin panorama.
