Bitcoin News Today: Hong Kong's Crypto Scene Tensions Flare Over Trump's $1M Bitcoin Push

Eric Trump, son of U.S. President Donald Trump, has intensified his involvement in the digital asset space, making bold price predictions for Bitcoin and expanding the family’s cryptocurrency ventures into Asia. Speaking at the Wyoming Blockchain Symposium, Trump labeled himself a “bitcoin maxi,” forecasting a price of $175,000 by the end of 2025 and eventually surpassing $1 million. He argued that Bitcoin and blockchain technology could resolve inefficiencies in traditional finance, including slow payment and settlement processes. These remarks align with his role as co-founder and chief strategy officer of American Bitcoin, a firm exploring acquisitions of publicly listed companies in Japan and Hong Kong to serve as digital asset treasury vehicles. The firm emerged from a reorganization of American Data Centers and aims to become the world’s most efficient Bitcoin accumulation platform [1].

In addition to his public appearances and market predictions, Trump is set to attend the Bitcoin Asia 2025 conference in Hong Kong, scheduled for August 28–29, and a shareholder meeting of Japanese firm Metaplanet on September 1. Metaplanet, following the strategy pioneered by MicroStrategy’s Michael Saylor, is reportedly using its public listing as a vehicle for accumulating Bitcoin. Trump was appointed as a strategic adviser to the company in March 2025. These developments highlight the Trump family’s growing influence in the crypto space and their strategic focus on Asia, a region where regulatory frameworks are rapidly evolving [1].

Meanwhile, the broader crypto market is navigating the debate over Bitcoin’s price cycles. Analyst James Check has challenged the traditional four-year cycle theory, which ties market behavior to Bitcoin’s halving events. Instead, Check argues that Bitcoin has experienced three distinct cycles driven by adoption and market structure changes: an adoption cycle from 2011 to 2018, an adolescence cycle from 2018 to 2022 marked by leveraged booms and busts, and a maturity cycle from 2022 onward, driven by institutional participation. He emphasized that the 2017 peak and 2022 bottom represented key transition points, with the post-2022 environment signaling a structural shift. Check warned that investors clinging to historical patterns may overlook these changes [2].

Glassnode analysts and traders like Bob Loukas, however, suggest that traditional cycle patterns are still evident, with increased profit-taking and selling pressure indicating the market is entering a late phase of the current cycle. While the debate continues, Bitwise CIO Matthew Hougan has suggested that institutional participation may extend the bull phase beyond traditional timeframes. Analysts like Mitchell Askew from Blockware have also predicted the end of “parabolic” rallies or “devastating” bear cycles, attributing this change to reduced volatility caused by institutional market dynamics [3].

Amid this evolving market landscape, Hong Kong has emerged as a key battleground for crypto regulation and adoption. The city’s second Bitcoin Asia conference, held in August 2025, attracted over 17,000 attendees, nearly tripling the previous year’s attendance. The event, however, was marked by the unexpected withdrawal of several high-profile speakers, including Eric Yip Chee-hang, an SFC executive director, and legislator Johnny Ng. Sources confirmed that they were advised not to interact with Eric Trump, who was set to headline the conference. These withdrawals underscore the geopolitical sensitivities surrounding high-profile U.S. figures in the Hong Kong crypto ecosystem [4].

As Bitcoin’s price continues to trend upward and institutional adoption deepens, the debate over market cycles and regulatory frameworks will remain central to the asset’s trajectory. Whether Trump’s $1 million price target materializes will depend not only on macroeconomic and technological developments but also on the evolving regulatory and geopolitical landscape, particularly in key markets like Hong Kong and Japan.

Source:

[1] Eric Trump Makes Bitcoin Price Predictions as He Reportedly Gets Ready to Visit Metaplanet (https://www.coindesk.com/business/2025/08/23/eric-trump-makes-bitcoin-price-predictions-as-he-reportedly-gets-ready-to-visit-metaplanet)

[2] Bitcoin Cycles Driven by Adoption Not Halvings, Says Expert (https://coinmarketcap.com/academy/article/bitcoin-cycles-driven-by-adoption-not-halvings-says-expert)

[3] Analyst Proposes Bitcoin Cycle Model Independent of Halving (https://forklog.com/en/analyst-proposes-bitcoin-cycle-model-independent-of-halving/)

[4] Hong Kong official, lawmaker pull out of Bitcoin Asia 2025 (https://hongkongfp.com/2025/08/28/hong-kong-finance-official-lawmaker-withdraw-from-bitcoin-event-featuring-eric-trump-as-headline-speaker/)