Eric Trump declared Bitcoin will surge to $1 million while praising China’s growing influence in global cryptocurrency markets.
At a Glance
- Eric Trump predicted Bitcoin would reach $1 million within several years
- He highlighted China’s role as a major force in cryptocurrency despite restrictions
- Bitcoin hit a record high of nearly $124,480 in mid-August before easing to around $110,554
- Trump family businesses are expanding across crypto ventures including mining, ETFs, and tokens
Trump’s Forecast for Bitcoin
Speaking at the Bitcoin Asia conference in Hong Kong on August 29, 2025, Eric Trump told attendees that Bitcoin’s trajectory was undeniable. He emphasized that its limited supply, combined with growing institutional adoption, would push the cryptocurrency past the symbolic $1 million mark. Trump added that unlike other digital assets, Bitcoin’s scarcity gave it unique staying power as a store of value in turbulent markets.
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Bitcoin has already delivered strong gains in 2025, rising 18% year-to-date and touching an all-time high of $124,480 in mid-August before retreating to roughly $110,554 during the Hong Kong conference. Analysts note that while Bitcoin remains highly volatile, institutional investment vehicles have helped broaden access to the asset class.
China’s Surprising Role
Eric Trump drew attention to China’s influence over the crypto ecosystem, describing it as “a hell of a power” in the industry. Despite Beijing’s long-standing restrictions on retail crypto trading, China remains deeply involved in mining supply chains, blockchain infrastructure, and digital currency development. Trump contrasted this position with Hong Kong’s regulatory environment, where stablecoin legislation has been rolled out to attract global firms.
Observers point out that Hong Kong’s policies are designed to distinguish the city from mainland restrictions, presenting a framework more appealing to international exchanges and investors. Eric Trump’s acknowledgment of this dynamic underscores the strategic importance of Asia’s financial centers in shaping crypto markets.
Trump Family and Crypto Expansion
Beyond rhetoric, the Trump family is actively investing in the cryptocurrency sector. Eric Trump co-founded American Bitcoin, a mining company that has partnered with Hut 8 and is preparing to list on Nasdaq in early September through a merger. The company positions itself as a major North American mining player, with ambitions to capture global market share.
The family’s interests extend further, encompassing crypto-themed exchange-traded funds, digital token ventures, meme coins, and potential stablecoin projects. These moves align with growing political and financial engagement between the Trump brand and the crypto community, which supported Donald Trump’s second presidential campaign.
Industry analysts note that while these ventures may deliver new revenue streams, they also raise questions about regulatory oversight and conflicts of interest. The convergence of politics, finance, and decentralized technologies is prompting debate over how deeply traditional institutions should entangle with the digital asset economy.
Market Outlook
While Eric Trump’s $1 million forecast is among the most ambitious public predictions, it reflects broader optimism among some crypto advocates. Institutional demand through asset managers, coupled with broader recognition of Bitcoin as a portfolio hedge, has lifted its market capitalization. However, risks persist, including regulatory tightening in major economies, potential technological shifts, and the volatility that has long defined the asset.
China’s balancing act—maintaining strict domestic controls while investing in blockchain and digital currency projects—illustrates the complexity of global crypto governance. Meanwhile, U.S. political figures embracing Bitcoin signal a shift in mainstream acceptance, though the long-term path remains uncertain. For investors and policymakers alike, the intersection of politics, business, and decentralized technology is becoming impossible to ignore.
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