Eric Trump laid out a bluntly bullish, supply-and-demand case for why Bitcoin can reach $1 million, arguing that accelerating institutional access collides with Bitcoin’s fixed 21 million-coin cap, during a “Bitcoin Takes Over the World” session with David Bailey at the Bitcoin Asia conference in Hong Kong on August 29.
“Everybody wants Bitcoin. Everybody is buying Bitcoin. And that’s uh that’s an incredible thing. And that’s why I’ve always said that I really believe that in the next several years, Bitcoin will hit a million dollars. There’s no question Bitcoin hits a million dollars,” Trump told the audience, adding that “every person who wants an asset class and you have a very limited supply… it doesn’t take a genius to figure out where that goes.” He urged long-term accumulation over timing: “Buy right now. Shut your eyes. Hold it for the next five years and you are going to do terrifically well.”
Trump also recounted his private discussions with high-level investors in the lead-up to the conference: “When you’re in the room with certain people and and I had breakfast this morning with, you know, a couple of the most powerful people in the region and the hospitality space and you’re literally sitting there trying to explain to them what digital currency is, you realize how early we all are to this race […] I hear from people all the time, you know, should I get into cryptocurrency? Did I miss it? Am I too late? And I literally start laughing at them. I go, we haven’t even scratched the surface of what Bitcoin is going to be.”
Trump’s core thesis combined two pillars: finite issuance and broadening distribution rails. He repeatedly emphasized Bitcoin’s provable scarcity—“There’s only 21 million coins… It’s finite. And that’s what makes it so damn powerful”—while asserting that channels for ownership have widened to large pools of capital. “In America, people are buying it for their retirement plans for the first time… you’ve got trillions of dollars of liquidity that’s opening up,” he said, citing custody at “major financial institutions,” as well as uptake by “the biggest banks,” “the biggest families,” “Fortune 500 companies,” and “sovereign wealth funds.” According to Trump, those cohorts are long-term holders: “Those retirement accounts are not letting Bitcoin go. Those companies are not letting Bitcoin go. Those sovereign wealth funds are not letting Bitcoin go.”
At press time, BTC traded at $110,149.
