Eric Trump Predicts Bitcoin Will Reach $1 Million

Eric Trump, the son of U.S. President Donald Trump, has declared that Bitcoin’s price trajectory is not only bullish but virtually predetermined. Speaking at the Bitcoin Asia conference in Hong Kong, he told an audience that he is convinced Bitcoin will eventually hit $1 million, framing the asset as both scarce and increasingly useful.

“There’s no question in my mind that Bitcoin hits a million dollars,” he said in a fireside conversation with David Bailey, CEO of Nakamoto Holdings. “And by the way, I don’t think it has to stop there. I think it could go a lot higher.”

His rationale was not based on complex models or technical analysis but on what he characterized as simple supply and demand dynamics. “You have every person who wants an asset class, and you have a very limited supply,” he explained. “It doesn’t take a genius to figure out where that goes.” He also emphasized that Bitcoin’s transformation from “digital gold” into an increasingly versatile financial instrument would accelerate this growth. According to Trump, the cryptocurrency is no longer merely a store of value, as companies and investors are now finding ways to stake it, earn yield, and use it for payments.

His comments came at a time when Bitcoin has been boosted by institutional adoption, with spot Bitcoin ETFs attracting record inflows in the U.S. since their launch in 2024. At the same time, corporations have been adding Bitcoin to their balance sheets in what some see as a long-term bet on digital scarcity. Trump argued that this growing utility marks a fundamental shift in how Bitcoin is perceived and used, ensuring its price appreciation in the coming years.

For Eric Trump, Bitcoin also carries a social dimension. He described it as the first financial system in history without disparity between socioeconomic classes, suggesting that its open and decentralized design levels the playing field in ways that traditional finance never has.

His personal stake in the industry makes his comments particularly notable. Trump has said he now spends “90% of his time” in the crypto sector, with business ties that include Trump Media, which has raised $2.5 billion to acquire Bitcoin and filed for spot Bitcoin and Ethereum ETFs. He also co-founded American Bitcoin, a mining company expected to go public later this year, and is involved with World Liberty Financial, a DeFi platform promoted by President Trump himself.

The younger Trump has not shied away from issuing buy signals before. Earlier this year, he urged followers on X to purchase Ethereum, a call that was followed by a short-term decline but proved profitable when ETH rebounded to new highs. He is now urging investors to adopt the same long-term mindset with Bitcoin, brushing off volatility as an opportunity rather than a deterrent.

“I hear from people all the time: ‘Should I get into cryptocurrency? Did I miss it? Am I too late?’ And I literally start laughing at them,” he remarked. “We haven’t even scratched the surface of what Bitcoin is going to be. This is the time to buy. Volatility is your friend—buy right now, shut your eyes, hold it for the next five years, and you’re going to do terrifically well.”