At the Bitcoin Asia conference in Hong Kong, Eric Trump, the son of President Donald Trump, predicted that the market’s leading cryptocurrency, Bitcoin (BTC) could soar to $1 million within the next few years, which could represent a major 825% increase from current levels.
Nevertheless, China still seems far from the US’s role in adopting cryptocurrencies, as the Asian country continues to face significant restrictions on operating digital assets.
On the other hand, under President Trump’s leadership, the United States has proposed establishing a Bitcoin reserve and passing three key crypto bills, including the GENIUS Act, which could accelerate the use of dollar-pegged cryptocurrencies in everyday transactions.
Despite the cryptocurrency’s recent dip toward $108,000, Eric Trump confidently stated, “There’s no question Bitcoin hits $1 million,” citing strong institutional demand and the cryptocurrency’s limited supply as key factors supporting his optimism.
He highlighted the support the Bitcoin community has shown for his father, expressing hope that such backing would yield significant returns for both the community and the Trump family.
Notably, American Bitcoin, a new crypto miner founded in collaboration with Hut 8 and backed by Eric Trump and his brother, Donald Trump Jr., is preparing for a Nasdaq listing next month.
Reuters also reported that during the same conference, crypto exchange Binance founder and former CEO Changpeng Zhao (CZ) remarked that the US is setting a precedent for progressive regulations that could prompt other governments to take similar actions.
Featured image from DALL-E, chart from TradingView.com
