Eric Trump, the executive vice president of the Trump Organization and son of U.S. President Donald Trump, gave bold forecasts about bitcoin’s future value trend during his attendance at the Bitcoin Asia event in Hong Kong on Friday, telling attendees that the price will “definitely” reach $1 million. “There’s no question bitcoin hits $1 million,” Eric Trump declared during a panel discussion with David Bailey, highlighting surging institutional demand and its limited supply as key factors for the astronomical price target.
The Bitcoin price currently trades around $110,000, having risen 18% this year, but still remains well below the ambitious forecast made by Trump. Eric Trump’s participation in the two-day event in Hong Kong, which drew over 20,000 attendees—three times the number from last year—underscored the expanding global impact of the Bitcoin sector and the Trump family’s increasing engagement in it. In his remarks, Trump acknowledged China’s significant influence in the Bitcoin and cryptocurrency landscape, referring to the country as a dominant player in the sector, even in light of Beijing’s prohibition on crypto trading that has been in effect since 2021. The remarks arise as the Trump family has notably broadened its involvement in Bitcoin and cryptocurrency initiatives throughout the previous year.
Eric Trump and his brother Donald Trump Jr. co-founded American Bitcoin, a mining operation where the Trump brothers hold about 20% ownership, with the rest owned by Hut 8. The company has successfully secured $220 million and is set to make its debut on Nasdaq in September through its merger with Gryphon. Eric Trump highlighted the significant change in U.S. cryptocurrency policy during his father’s administration, asserting that more advancements have occurred in Bitcoin and crypto within the seven months following President Trump’s return to office than in the entire previous decade. “We went from 0 to 100 instantaneously,” he said, describing America as “winning the digital revolution” thanks to strong political backing and institutional support from major financial entities, sovereign wealth funds, and retirement accounts.
Trump also emphasized his role with Japanese Bitcoin treasury company Metaplanet, where he is a member of the board of advisors. He commended the company’s president and CEO, Simon Gerovich, during his panel discussion, highlighting the expanding global network of Bitcoin-centric businesses. Eric Trump’s optimistic Bitcoin price forecast highlights increasing institutional trust in its future potential, while the Bitcoin Asia conference emphasized Hong Kong’s emerging significance in the worldwide Bitcoin scene.