HONG KONG (Reuters) – Eric Trump, son of U.S. President Donald Trump, made a bold forecast on Friday during the Bitcoin Asia conference in Hong Kong. He said bitcoin could climb to $1 million within the next few years, calling China “a major force” in shaping the future of digital currencies.
Bitcoin has already gained 18% this year, though it remains far from the million-dollar target. The token reached an all-time high of $124,480 in mid-August, supported by favorable policies from the Trump administration and rising interest from institutional investors. By Friday, prices hovered near $110,000.
“There’s no doubt bitcoin will reach $1 million,” Eric Trump said during the panel, pointing to strong institutional demand and bitcoin’s limited supply.
While mainland China maintains a ban on crypto trading, reports suggest Beijing is exploring yuan-backed stablecoins to expand its influence globally. Meanwhile, Hong Kong introduced a stablecoin bill in May, aiming to rival the United States and other Asian hubs as a leader in digital assets.
When asked if President Trump and Chinese leader Xi Jinping might soon discuss cryptocurrency policy, Eric Trump remarked that both nations “probably understand digital currency better than anyone else.”
Eric Trump, who also serves as an executive vice president of the Trump Organization, emphasized the close ties between bitcoin supporters and his father’s political base. “The community stood by him before he became president again, and I hope that loyalty has been rewarded,” he added.
Over the past year, the Trump family has expanded its presence in the crypto sector. Their ventures now include a trading exchange, a stablecoin project, bitcoin mining operations, and digital asset ETFs. In addition, a bitcoin mining firm backed by Eric Trump and Donald Trump Jr. is preparing for a Nasdaq listing next month.
At the same conference, Binance founder Changpeng Zhao said the U.S. is setting the pace for progressive regulations that are encouraging other governments to act.
