With the dazzling skyline of Hong Kong as a backdrop and Bitcoin bulls in full force, Eric Trump took the stage on Friday at the Bitcoin Asia 2025 conference with a bold proclamation: Bitcoin, he declared, will hit $1 million “within several years.” The son of U.S. President Donald Trump and co-founder of American Bitcoin Corp. (ABTC), Trump’s keynote address was less about cautious optimism and more a declaration about crypto’s future dominance.
“There’s no question Bitcoin will hit $1 million,” Trump told the packed audience, citing surging institutional demand and Bitcoin’s limited 21-million coin supply as primary drivers. The executive vice president of The Trump Organization emphasized that current Bitcoin adopters remain “early investors” since most market participants are yet to embrace digital currencies.
Bitcoin currently trades around $107,892, having retreated nearly 13% from its all-time high of $124,500 that it reached on August 14. The cryptocurrency has gained 18% this year but faces short-term pressure after falling below its 50-day exponential moving average, a key technical support level.
Eric Trump’s bold claims about Bitcoin drew skepticism from industry experts. Galaxy Digital CEO Mike Novogratz cautioned that a rapid surge of Bitcoin to $1 million would more likely signal a collapsing U.S. economy than a booming crypto market. “It only reaches that level if the domestic situation is dire,” Novogratz warned, adding that he would much rather see modest Bitcoin prices accompanied by strong economic fundamentals.
Analysts also remain divided on corporate Bitcoin treasury strategies as the market evolves, with scepticism growing over whether new institutional investors can still capture significant returns in an increasingly saturated space.
Eric Trump Shows No Concern Over Political Snub
Eric Trump’s appearance at the conference sparked controversy, as some Hong Kong delegates, including Eric Yip, Executive Director of the Intermediaries Division at the Securities and Futures Commission of Hong Kong, and Johnny Ng, Hong Kong Legislative Councillor for the Technology and Innovation Functional Constituency, withdrew from the event. As per news reports, their absence was reportedly to avoid association with Eric Trump amid ongoing U.S.-China trade tensions, including U.S. tariffs of up to 145% on Hong Kong imports.
Despite the diplomatic snub, Trump praised China as “a hell of a power” in cryptocurrency development and suggested both nations understand digital currencies “better than anybody else in the world.” His comments come as China explores yuan-backed stablecoins, with state-owned entities and tech giants lobbying for their authorisation. At the same time, Hong Kong advances its position as a global digital asset hub through regulatory measures like the Stablecoin Ordinance, effective August 1, 2025.
The Trump family has also been actively expanding into cryptocurrency ventures, launching initiatives such as a crypto exchange, a stablecoin, and Bitcoin mining operations. Eric Trump has stated he now dedicates 90% of his time to Bitcoin and cryptocurrency projects.
His company, ABTC, is preparing to trade publicly following a reverse merger with Gryphon Digital Mining, approved by Gryphon shareholders in August 2025. The combined entity is set to list on Nasdaq in September 2025 under the ticker ABTC, enabling the company to access public markets without a separate IPO.
