Bitcoin News Today: Trump's $1M Bitcoin Bet: A Power Play in the Global Crypto War

Eric Trump, the executive vice president of the Trump Organization and son of former U.S. President Donald Trump, has made a bold prediction that Bitcoin will reach a price of $1 million, citing institutional demand and its limited supply as key drivers [1]. Speaking at the Bitcoin Asia conference in Hong Kong, which drew over 20,000 attendees, Trump emphasized the transformative impact of institutional and governmental adoption, noting that “everybody is buying Bitcoin” [2]. His remarks align with a broader narrative of growing institutional confidence in Bitcoin as a long-term store of value, despite the cryptocurrency’s historical volatility and the regulatory challenges that have previously hindered its growth.

The Trump family has deepened its involvement in the crypto space over the past year, with Eric and his brother Donald Trump Jr. co-founding American Bitcoin, a mining operation 20% owned by the Trump brothers [1]. The company recently secured $220 million in funding and is preparing for a Nasdaq listing via a merger with Gryphon, a move that underscores the family’s strategic commitment to digital assets. Eric Trump also highlighted his advisory role at Japanese Bitcoin treasury company Metaplanet, pointing to the growing international network of Bitcoin-focused enterprises [1]. His presence at the Hong Kong event and his subsequent planned trips to Japan and South Korea reflect the Trump family’s expanding global crypto footprint.

Trump’s bullish outlook on Bitcoin is partly supported by the broader policy environment in the U.S., which has become more favorable under his father’s administration. The Trump administration has launched several executive orders and filled its cabinet with crypto advocates, including David Sacks, the White House’s AI and crypto czar [2]. Eric Trump noted that the administration has made more progress on Bitcoin and crypto in the past seven months than in the previous decade, describing the U.S. as “winning the digital revolution” [1]. This political backing has been mirrored by institutional support from Wall Street firms and sovereign wealth funds, further reinforcing the narrative of Bitcoin’s growing legitimacy as a financial asset.

While Trump’s $1 million price target for Bitcoin may seem ambitious—especially given its current valuation of around $110,000—the prediction is consistent with the growing number of institutional investors entering the market [1]. Analysts have pointed to Bitcoin’s limited supply as a key factor in its long-term value proposition, with many believing that increased adoption will drive up demand and, consequently, its price. The Trumps’ involvement in crypto ventures, including World Liberty Financial and the $TRUMP meme coin, has also sparked political scrutiny, with opposition lawmakers calling for ethics investigations [2]. However, Trump remains confident, urging investors to buy and hold for the long term, emphasizing that the market is still in its early stages [3].

The geopolitical implications of Bitcoin’s rise are also coming into focus as the U.S. and China compete for dominance in the global digital currency landscape. The U.S. has introduced the GENIUS Act, which aims to establish a regulatory framework for stablecoins and expand the dollar’s reach in cross-border payments [4]. Meanwhile, China is advancing its own digital currency strategy through the e-CNY and the mBridge platform, seeking to challenge the dominance of the U.S. dollar in global trade [4]. Eric Trump’s high-profile crypto advocacy in Hong Kong, a hub for China’s crypto liquidity strategy, has drawn attention to the potential for Beijing to exert influence over the Trump family’s crypto assets, particularly as Hong Kong-licensed exchanges play a central role in global virtual asset trading [5].

Source:

[1] Eric Trump Said The Bitcoin Price Is Definitely Going To $1 Million At Bitcoin Asia (https://bitcoinmagazine.com/markets/eric-trump-said-the-bitcoin-price-is-definitely-going-to-1-million-at-bitcoin-asia)

[2] Eric Trump Talks Bitcoin In Hong Kong, Predicts $1 Million Valuation (https://www.cnbc.com/2025/08/29/eric-trump-talks-bitcoin-in-hong-kong-predicts-1-million-valuation.html)

[3] Eric Trump Says 'There Is No Question' Bitcoin Will Hit $1 Million (https://finance.yahoo.com/news/eric-trump-says-no-bitcoin-183024904.html)

[4] The US-China Digital Rivalry As A Test Of Monetary Discipline (http://cepr.org/voxeu/columns/new-currency-war-us-china-digital-rivalry-test-monetary-discipline)

[5] China Could Leverage Crypto Control Over Trump Family Wealth (https://cointelegraph.com/news/china-control-trump-family-wealth)