Eric Trump Doubles Down: ‘No Question’ Bitcoin Will Hit $1 Million

Eric Trump, co-founder of American Bitcoin (ABTC) and son of U.S. President Donald Trump, reaffirmed his ultra-bullish stance on Bitcoin.

In the course of the Bitcoin 2025 Asia conference in Hong Kong on Friday, he mentioned there may be “no query” BTC will hit $1 million within the coming years.

Trump Cites International Demand as Gasoline for Bitcoin’s Rise

Chatting with a packed viewers, Trump pointed to surging demand from governments, main companies, and rich households as key drivers behind his conviction.

“Everyone needs Bitcoin. Everyone is shopping for Bitcoin,” he mentioned. “That’s why I’ve at all times mentioned Bitcoin goes to hit $1 million. There’s no query.”

Trump had beforehand made the identical $1 million prediction in December 2024. This time, he emphasised that institutional adoption is simply starting and present holders are nonetheless early.

“The overwhelming majority of individuals nonetheless haven’t caught on to the way forward for finance,” he famous.

His feedback come amid rising momentum for ABTC, the mining agency he co-founded.

In August, shareholders of Gryphon Digital Mining approved a reverse merger with ABTC. The newly merged entity will start buying and selling beneath the ABTC ticker on Nasdaq in September.

Initially revealed in Might, the deal permits American Bitcoin, launched by Donald Trump Jr. and Eric Trump earlier this year, to enter public markets with out a separate IPO, utilizing Gryphon’s Nasdaq itemizing as a automobile.

Because the merger announcement, Gryphon’s inventory has surged over 230%, together with a 42% rally on Thursday forward of the itemizing.

The corporate is now seen as a direct play on Trump’s rising affect within the digital asset house.

American Bitcoin has positioned itself as a pure-play mining enterprise targeted on Bitcoin accumulation.

It has disclosed 215 BTC in holdings, although third-party information from BitcoinTreasuries.NET suggests its reserves might strategy 1,941 BTC.

Regardless of the optimism, Bitcoin has seen short-term worth weak point, slipping almost 13% from its all-time excessive of $124,500 on August 14.

The asset is now buying and selling under its 50-day exponential shifting common, a key technical stage usually watched by merchants.

$1M Bitcoin in 2026 Would Sign US Financial Disaster

As reported, Galaxy Digital CEO Mike Novogratz has pushed back on predictions that Bitcoin could hit $1 million within the close to time period, warning that such a transfer would doubtless mirror a collapse within the US economic system slightly than a crypto success story.

“Individuals who cheer for the million-dollar Bitcoin worth subsequent yr, I used to be like, guys, it solely will get there if we’re in such a shitty place domestically,” Novogratz informed Natalie Brunell on the Coin Tales podcast not too long ago.

“I’d slightly have a decrease Bitcoin worth in a extra secure United States than the alternative.”

Novogratz defined that excessive forex devaluations usually gas demand for different secure havens, and Bitcoin, usually dubbed digital gold, turns into a hedge in opposition to financial turmoil.

Nevertheless, he cautioned that such situations would come on the expense of civil society.

Final month, Glassnode lead analyst James Examine raised concerns over the longevity of the company Bitcoin treasury technique, arguing the simple positive aspects may already be gone for brand spanking new entrants because the market matures.

The warning echoes latest feedback from Matthew Sigel, head of digital asset analysis at VanEck, who has voiced concerns over the Bitcoin treasury strategies adopted by some publicly traded companies.

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