Eric Trump, executive vice president of the Trump organization and son of US President Donald Trump, made bold predictions about Bitcoin’s future price trajectory during his appearance at the Bitcoin Asia Conference in Hong Kong on Friday, informing participants that Bitcoin’s price would “unquestionably” reach $1 million.
“There’s no doubt that Bitcoin will reach $1 million,” Eric Trump declared in a panel discussion with David Bailey, citing the limited supply of the agency’s demand and its limited supply as the key driver of the astronomical price target. Bitcoin prices are currently trading at around $110,000, up 18% this year, but far below Trump’s ambitious forecast.
Eric Trump’s two-day appearance at the Hong Kong event attracted more than 20,000 participants (the number of triples) last year, highlighting the growing global influence of the Bitcoin industry and the deeper involvement of the Trump family.
In his speech, Trump praised China’s role in the Bitcoin and Crypto ecosystem, calling the nation the main force of Bitcoin and Cryptocurrency despite Beijing’s ban on crypto trading since 2021.
Comments arise as the Trump family has expanded its Bitcoin and crypto ventures significantly over the past year. Eric Trump and his brother Donald Trump Jr. co-founded American Bitcoin. This is about 20% owned by the Trump brothers, with the rest remaining on the Hat8. The company has recently raised $220 million and plans to make its NASDAQ debut in September through a merger with Griffon.
Eric Trump highlighted the dramatic changes in US crypto policy based on his father’s administration, claiming that progress in Bitcoin and crypto has increased seven months after President Trump took office than in the past decade. “We went from zero to 100 in an instant,” he said, describing America as “winning the digital revolution” thanks to strong political and institutional support from Wall Street companies, sovereign funds and retirement accounts.
Trump also highlighted his involvement with Metaplanet, the Japanese Bitcoin Treasury Ministry, where he works for the Advisory Committee. He praised Simon Gerovich, the company’s president and CEO, during a panel discussion, reflecting the growth of the international network of Bitcoin-centric companies.
Eric Trump’s bullish Bitcoin price forecast reflects growing institutional confidence in its long-term outlook, with the Bitcoin Asia Conference highlighting the rise in Hong Kong’s role in the global Bitcoin landscape.
Source: https://bitcoinmagazine.com/markets/eric-trump-said-the-bitcoin-price-is-definitely-going-to-1-million-at-bitcoin-asia
