- Bitcoin and other crypto prices jumped 10% this week as U.S. adoption increased.
- Eric Trump predicted that bitcoin will reach $1 million and said cryptocurrency is replacing traditional finance.
- Donald Trump called himself the first “crypto president” amid new crypto-friendly legislation.
- Major Wall Street firms like Fidelity and Charles Schwab continue to adopt crypto, according to Eric Trump.
- The Trump family has launched projects in decentralized finance and bitcoin mining after facing restrictions from the banking industry.
Bitcoin and other cryptocurrencies have seen sharp price increases this week in the United States. The growth follows higher adoption rates and heightened interest in crypto assets.
The price of bitcoin climbed by 10% over the last week, mirroring a similar rise in Gold prices. Wall Street analysts say recent developments from large financial organizations are playing a significant role. In addition, analysts are watching for major price changes expected by 2026.
Eric Trump stated this week that he believes bitcoin will reach $1 million. He also said, “There is no doubt in my mind, cryptocurrency is going to replace traditional finance, and it’s happening so fast.” In a Fox Business interview, he emphasized how quickly cryptocurrency use is growing and compared its expansion to the rise of the internet in the 1990s.
Over the past year, the Trump family has become more active in the cryptocurrency space. Donald Trump has called himself the first “crypto president” and has worked on policies supporting digital assets. His administration has introduced new legislation aimed at making the United States a leader in cryptocurrency, including the creation of a national bitcoin strategic reserve.
The Trump family, including Eric Trump and Donald Trump Jr., launched a decentralized finance project called World Liberty Financial. DeFi, or decentralized finance, refers to blockchain-based financial services that do not rely on traditional banks. This project follows the family’s claims of being denied banking services after the 2020 U.S. election. The family has also started an American bitcoin mining company.
Several major U.S. investment firms, such as Fidelity and Charles Schwab, have begun supporting crypto investments. Eric Trump stated, “The floodgates are opening,” and suggested that interest from these large firms shows significant momentum for digital assets. He added, “We are on the one yard line of cryptocurrency and we’ve got another whole field to run as explosive as its been, so I do think that [the Bitcoin Price] hits $1 million eventually.”
Market observers remain focused on further adoption and policy changes that may shape crypto prices and regulations over the next several years.
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