Preview: "Trump reiterated calls for $1 million Bitcoin but said the vast majority of market participants still don’t understand digital money."
Eric Trump, the son of US president Donald Trump and the co-founder of Bitcoin
mining firm American Bitcoin (ABTC), said on Friday that there is “no question” that BTC hits $1 million in the next several years.
Trump previously predicted that BTC would reach $1 million per coin in December 2024. Speaking to the audience at the Bitcoin 2025 Asia conference in Hong Kong, Trump said:
“You've got nation states that are buying the hell out of Bitcoin. You've got Fortune 500 companies that are buying the hell out of Bitcoin. You've got the biggest families, you've got the biggest companies on Earth that believe in this digital store of value. Everybody wants Bitcoin. Everybody is buying Bitcoin.
That's an incredible thing, and that's why I've always said that I really believe in the next several years, Bitcoin will hit $1 million. There's no question that Bitcoin hits $1 million,” Trump continued.
Trump said that despite the increased demand from financial institutions and wealthy individuals, current Bitcoin adopters are still “early” because the vast majority of market participants have not yet caught on to digital money and the future of finance.
Related: Trump family went pro-crypto after Biden ‘weaponized' banks: WSJ
Gryphon approves merger with American Bitcoin amid slight BTC drawdown
Shareholders of Gryphon Digital Mining, a publicly listed US-based Bitcoin miner, approved a reverse merger with ABTC in August, and will trade under the ABTC ticker once the deal is completed and the stock is relisted on the Nasdaq exchange in September.
Gryphon’s stock soared by about 231% since May 2025, when the initial deal was announced, and rose by over 42% on Thursday in anticipation of the merger.
The deal came amid a minor correction of nearly 13% from Bitcoin’s all-time high price of about $124,500 on August 14.
Bitcoin’s price has now dipped below the 50-day exponential moving average (EMA), a dynamic support level, which could indicate further pressure to the downside in the short term, even as analysts and industry executives are calling for higher long-term prices.
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