Eric Trump, son of former U.S. President Donald Trump, made a series of bold statements, including a prediction that Bitcoin would eventually hit $1 million per coin.
"I believe in Bitcoin. I absolutely love Bitcoin, and I'm very proud that my father stood on stage in Nashville and said that he's going to be the Bitcoin president," Eric Trump said during his speech at Bitcoin MENA 2024 in Abu Dhabi on Dec. 10, 2024.
At the time of his speech, Bitcoin was trading just below $100,000. Since then, it reached an all-time high (ATH) of $108,786 on Jan. 20, 2025, but has since pulled back to its current price of $96,215 — about 11.42% below its peak. While Bitcoin has shown volatility, it hasn't seen the explosive rally Trump hinted at — at least, not yet.
A ‘Bitcoin president’ and a $1 million BTC
Eric Trump painted a picture of a crypto-friendly White House under his father’s leadership, claiming that Donald Trump would turn America into "the crypto capital of the world" and ensure Bitcoin isn’t overregulated.
"Think about a president who isn't going to allow Bitcoin and cryptocurrencies to be over-regulated and stifled by high taxes, somebody who will fight like hell against those institutions who have waged war on cryptocurrency," he told the audience . "I could tell you a helluva more eyes are gonna be opened when Bitcoin hits $1 million, and I'm confident it's gonna hit $1 million.”
His speech reinforced Donald Trump’s ongoing embrace of crypto, noting promises like firing SEC Chair Gary Gensler, reported Roundtable’s Rob Nelson adding Bitcoin to the U.S. Treasury, and making crypto tax-free.
For Bitcoin to reach $1 million from its current price of $96,215, it would need to surge by approximately 939.34%.
If Bitcoin were to hit $1 million, it would fundamentally reshape the financial landscape. Its total market capitalization would surpass $21 trillion (assuming the current circulating supply remains around 21 million BTC), making it more valuable than gold and challenging traditional reserve assets.
A shift in finance
Trump also made a case for Bitcoin as a superior asset to traditional finance, highlighting its ability to store and transfer value globally.
"For the first time, there's another asset that has energy. There's another new digital asset that's revolutionary. One that consumes energy, one that has life, and one that has potentially more power than anything we've ever seen before."
He criticized traditional banking as slow, inefficient, and outdated, arguing that Bitcoin offers a faster, borderless alternative.
"I can go on my phone right now and trade Bitcoin at midnight on a Saturday night while having dinner with my wife. How the hell does it take 120 days to get a loan in developed nations?" he added.
