- Eric Trump predicts Bitcoin could reach $1 million within several years.
- Trump highlights strong demand for Bitcoin from governments, major companies, and investors.
- Gryphon Digital Mining shareholders approve a reverse merger with American Bitcoin (ABTC).
- Gryphon’s stock price surged following the merger approval and announcement.
- Bitcoin experienced a 13% price dip after reaching its all-time high of $124,500 in August.
Eric Trump, the son of former U.S. president Donald Trump and co-founder of the Bitcoin mining firm American Bitcoin (ABTC), stated at a conference in Hong Kong on Friday that he is confident Bitcoin will reach $1 million within the next several years.
Speaking at the Bitcoin 2025 Asia conference, 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.” He added that he has “always said” he believes Bitcoin will hit $1 million and reiterated there is “no question” about it.
Trump described the current period as “early” for Bitcoin adoption, noting that although large institutional and wealthy investors are increasing their exposure, most market participants have not yet fully embraced digital assets.
Shareholders of Gryphon Digital Mining, a publicly listed Bitcoin mining company in the U.S., approved a reverse merger with American Bitcoin (ABTC) in August. The combined company will trade under the ABTC ticker when the stock is relisted on the Nasdaq in September. Gryphon’s stock jumped by about 231% since the initial merger announcement in May and climbed more than 42% following news of the decision.
The merger comes as Bitcoin experienced a 13% price drop after reaching an all-time high price of about $124,500 on August 14. Bitcoin’s price has since fallen below its 50-day exponential moving average—a technical indicator used by traders to gauge market trends—which may point to short-term price pressure. However, industry leaders and analysts continue to express optimism about long-term price growth.
For further coverage of the event, see: South China Morning Post and Bitcoin Magazine.
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