- Eric Trump said Bitcoin could reach $1M and praised China for leading in crypto growth.
- He described the Bitcoin community as diverse and called it a global financial network.
- The Trump family expanded into crypto projects, including mining stablecoins and ETFs.
Eric Trump predicted in Hong Kong that Bitcoin could reach $1 million within years, while also calling China “a hell of a power” in cryptocurrency development. Speaking at the Bitcoin Asia conference on Friday, he said both the United States and China “are definitely leading the way on cryptocurrency” and probably understood the technology “better than anybody else in the world.”
Bitcoin has risen 18% this year, though it remains far from Trump’s projection. The asset reached a record $124,480 in mid-August, driven by Trump administration policies and strong institutional demand. On Friday, it traded around $110,000, pulling back from recent highs but still showing resilience as investors balanced global regulatory developments with supply constraints.
Reuters reported that when asked whether the subject of digital assets might appear in a future trade meeting between President Trump and Chinese President Xi Jinping, Eric Trump said larger issues were more likely to dominate the agenda. Still, he stated, “I would certainly love to talk about Bitcoin.” Could Bitcoin evolve into one of the rare arenas of cooperation between two superpowers locked in strategic rivalry?
China’s Role and Global Expansion
Eric Trump credited China as a formidable actor in digital finance, despite its ban on domestic cryptocurrency trading. He pointed to China’s exploration of yuan-backed stablecoins designed to boost international adoption. At the same time, Hong Kong passed a stablecoin bill in May, aiming to rival the United States and regional peers in digital asset leadership.
According to a Bloomberg report, he added that the Middle East had also embraced cryptocurrencies at a rapid pace, saying, “The Middle East has really massively embraced cryptocurrency, and they are running fast in that endeavor.” His comments highlighted that both regional and global players were racing to establish leadership in blockchain adoption.
In the broader context, Trump framed Bitcoin as more than an investment vehicle. He described the Bitcoin community as “one of the most diverse communities in the world,” uniting people from different languages, cultures, societies, and religions. This international quality, he explained, made digital assets a truly global experiment.
U.S. Momentum and Family Ventures
Eric Trump argued that under his father’s leadership, the United States was “winning the digital revolution,” claiming more progress had been made in seven months than in the previous decade. He said this rapid progress came from regulatory openness, coupled with institutional backing from Wall Street firms, sovereign wealth funds, and retirement accounts.
He acknowledged the Bitcoin community’s support for Donald Trump even before his return to the presidency, stating, “I hope that’s paid off in spades because we love this community. We believe in this community.”
Related: Eric Trump Turns to Crypto After ‘Debanking’ Fallout
The Trump family has expanded into several cryptocurrency ventures. These include a stablecoin project, a mining operation, and digital asset ETFs. Additionally, a Bitcoin mining company backed by Eric Trump and Donald Trump Jr. is preparing for a Nasdaq listing next month, signaling further integration of the family into the sector.
At the same conference, Binance founder Changpeng Zhao said the U.S. was “setting the case” with forward-leaning regulations, which were now prompting other governments to act. Together, these developments placed the U.S.–China dynamic at the center of digital finance, where competition and cooperation might unfold simultaneously.
