Eric Trump Predicts Bitcoin Will Reach $1 Million Amid Institutional Demand

What's Happening?

Eric Trump, co-founder of Bitcoin mining firm American Bitcoin (ABTC) and son of President Trump, stated at the Bitcoin 2025 Asia conference in Hong Kong that Bitcoin will reach $1 million in the coming years. Trump emphasized the increasing demand from nation states, Fortune 500 companies, and wealthy families as key drivers for Bitcoin's price surge. Despite a recent correction in Bitcoin's price, which fell nearly 13% from its all-time high of $124,500, Trump remains optimistic about its long-term value. Gryphon Digital Mining, a U.S.-based Bitcoin miner, approved a merger with ABTC, which is expected to be completed in September, further highlighting the growing institutional interest in Bitcoin.

Why It's Important?

Eric Trump's prediction underscores the growing institutional trust in Bitcoin as a digital store of value. The involvement of major financial institutions and wealthy individuals in Bitcoin investments signals a shift from speculative trading to long-term asset holding. This trend could lead to increased stability and acceptance of Bitcoin in mainstream financial markets. The merger between Gryphon Digital Mining and American Bitcoin reflects the expanding influence of U.S.-based companies in the global cryptocurrency ecosystem, potentially boosting the U.S. economy and technological leadership in digital finance.

What's Next?

The merger between Gryphon Digital Mining and American Bitcoin is set to be completed in September, with the new entity trading under the ABTC ticker on the Nasdaq exchange. This development may attract further institutional investments and partnerships, enhancing the credibility and market presence of Bitcoin. As Bitcoin continues to gain traction among institutional investors, regulatory frameworks and policies may evolve to accommodate its growing role in the financial sector.