Bitcoin Can Reach $1 Million Eric Trump States at Hong Kong Conference: How?

Eric Trump, son of American President Donald Trump, spoke at the Asia Bitcoin conference in Hong Kong on Friday, stating that the world's largest cryptocurrency will reach a value of 1 million dollars in the coming years. He argued that limited supply and growing institutional interest will drive prices far beyond current levels. He said: There is no doubt that the price of bitcoin will reach 1 million dollars. Eric added that he currently spends 90% of his time on the cryptocurrency community and calls digital tokens the "greatest asset in the world." He urges investors to buy and hold without selling early, he said: I truly believe that in the coming years, Bitcoin will reach one million dollars. Buy now, close your eyes, hold long-term, don't panic sell. This is the greatest asset in the world. We haven't even fully explored the potential of Bitcoin. Eric Says That America Is Winning The Cryptocurrency Revolution Eric described China as "a terrifying force" in the development of digital currency, but remarked that the United States is "winning the digital revolution." He also suggested that both his father and Chinese President Xi Jinping probably understand cryptocurrency "better than anyone else in the world." Mainland China still prohibits public trading of digital assets but is considering using stablecoins backed by the Renminbi for international purposes. Meanwhile, Hong Kong has passed new stablecoin legislation, aiming to compete with the United States and other regional economies to become a digital financial hub. Eric also emphasized the political aspect of the adoption of digital currency. He stated that the Bitcoin community had supported Donald Trump even before his second presidential term began. The Trump family has expanded into many projects related to digital assets. Their projects include a trading platform, a stablecoin project, exchange-traded funds (ETF) for cryptocurrencies, and a mining company. A mining company linked to Eric Trump and Donald Trump Jr. is expected to list on Nasdaq next month. The Price Trend of Bitcoin in 2025 The price of Bitcoin has increased by 16.24% this year, reaching an all-time high of $124,480 in mid-August before falling back. This price surge was supported by favorable regulations from the Trump administration and the increasing demand from institutions. Currently, Bitcoin is trading at $108,445, with technical indicators suggesting a difficult road ahead. Analysts note that the coin has been in a downtrend channel since August, holding support at $108,400 and resistance around $111,000. Failure to hold the level of $107,800 could lead to a drop in price to $105,150 or even $101,500. However, a price increase above $111,000 could pave the way for levels of $113,650, $116,850, and $120,250, with some traders watching the $130,000 level after the current accumulation phase ends.