Eric Trump praised China’s rising influence in the crypto space and doubled down on his $1 million bitcoin forecast during his speech at Bitcoin Asia in Hong Kong.
Key Takeaways
- Eric Trump said China has made an “unbelievable mark” on crypto and called it a “hell of a power” in the industry.
- He predicted that bitcoin will hit $1 million in the coming years, citing growing institutional demand and fixed supply.
- Trump highlighted the U.S. and China as the two global leaders in cryptocurrency development and policy.
- Bitcoin is currently trading at $108,293, down 4.2% in the past 24 hours and 13% from its mid-August all-time high.
What Happened?
Speaking at the Bitcoin Asia conference in Hong Kong, Eric Trump praised China’s significant role in the cryptocurrency space, despite the country’s official bans on trading and mining. He also reaffirmed his bold prediction that bitcoin will eventually reach $1 million, emphasizing growing institutional interest and limited supply as key drivers.
Trump spoke at length about the global nature of the bitcoin community, its cultural diversity, and how the U.S. and China are “leading the way” in the future of digital finance.
Eric Trump’s Crypto Endorsement in Hong Kong
Eric Trump, the executive vice president of the Trump Organization and son of U.S. President Donald Trump, took the stage in Hong Kong to discuss the state of global cryptocurrency. He did not hold back praise for China, despite its history of bans on crypto exchanges and mining.
“There is no question that you have made an unbelievable mark on bitcoin and cryptocurrencies,” Trump said to the crowd, responding to moderator David Bailey’s comment about China being a “Bitcoin superpower.”
He noted that while the U.S. is “winning the digital revolution,” China remains a force to reckon with, especially through Hong Kong, which is piloting regulated crypto initiatives. Trump also recognized the Middle East and parts of South America as fast adopters of digital assets.
Despite mainland China banning crypto exchanges in 2017 and outlawing crypto transactions in 2021, peer-to-peer activity continues in legal gray areas. Bitcoin mining, although officially banned, still occurs in some regions due to inconsistent enforcement. Meanwhile, Hong Kong recently passed a stablecoin bill in May, with aspirations to become a global digital asset hub.
A Vision for Bitcoin’s Future
Trump repeated his belief that bitcoin is headed to $1 million. “Buy right now, close your eyes, hold it long term, do not get rid of it,” he said. “It is the greatest asset in the world. Everybody is buying bitcoin. We haven’t even scratched the surface.”
He linked his deep involvement in crypto to the “debanking” of Trump family businesses during the previous Biden administration. That experience, he said, pushed him to explore financial alternatives and brought him into the world of digital assets.
Trump Family’s Crypto Footprint
The Trump family has expanded into several cryptocurrency-related businesses, including:
- A crypto exchange and stablecoin project
- A bitcoin mining firm backed by Eric and Donald Trump Jr.
- Digital asset ETFs
- Advisory roles in international bitcoin ventures
One such miner, American Bitcoin, is preparing for a Nasdaq debut next month after raising $220 million through a merger with Gryphon.
Trump emphasized the loyalty of the crypto community to his father during the 2024 election cycle, stating, “We love this community. We believe in this community.”
Looking Ahead to U.S. – China Crypto Talks?
When asked whether his father’s anticipated trade meeting with Chinese President Xi Jinping could involve discussions on bitcoin, Eric Trump said that while it may not be the main focus, he “would certainly love for them to talk about bitcoin.”
He also highlighted how digital currency has brought together people from different cultures and beliefs, calling bitcoin “great for humanity.”
CoinLaw’s Takeaway
In my experience, when a political figure praises both the China and U.S. on crypto, it signals a real shift in how digital assets are becoming central to global power dynamics. What stood out to me was not just the $1 million prediction, but how Eric Trump framed bitcoin as a unifying, global force. He’s not just pitching crypto as an investment, but as a cultural revolution. It’s rare to see this kind of bipartisan and international appreciation in such a polarized space. I found his comments on how personal setbacks led him into crypto to be surprisingly honest and relatable.
