Bitcoin Prediction to Reach 1 Million USD Strengthened by Eric Trump

Eric Trump has doubled his Bitcoin price prediction to $1 million at the Bitcoin 2025 Asia conference in Hong Kong on Friday. The American Bitcoin co-founder expressed strong belief in the long term trend. According to Trump's speech at the conference, countries and companies on the Fortune 500 list are actively accumulating Bitcoin. He emphasized that widespread adoption by institutions is driving unprecedented demand for this digital asset. "There is no doubt that Bitcoin will reach 1 million dollars," Mr. Trump stated before a crowd packed with Hong Kong spectators. This prediction still maintains the timeframe that Mr. Trump set for December 2024, which means a few years for Bitcoin to reach seven figures. He noted that current market participants are still "early" despite the increasing interest from institutions. American Bitcoin (ABTC) has received shareholder approval for a reverse merger with Gryphon Digital Mining in August. This merged company will trade under the ticker symbol ABTC on Nasdaq starting in September. American Bitcoin stock has increased by more than 230% since the initial merger announcement in May. Thursday's trading saw an additional increase of 42% before the listing is completed in September. ABTC currently holds 215 Bitcoin, although third-party data suggests that reserves could be as high as 1,941 Bitcoin. This mining company positions itself as a pure Bitcoin accumulation strategy. Despite long-term bullish predictions, Bitcoin is facing short-term technical pressure after a 13% drop from its all-time high. This digital asset is trading below the 50-day exponential moving average, an important dynamic support level monitored by technical analysts. This breakdown could indicate potential additional short-term bearishness. Trump emphasized that wealthy families and large corporations recognize the value of Bitcoin as a store of digital asset. This institutional recognition reinforces his price target of millions of dollars in the coming years. The merger allows American Bitcoin to enter the public market without the need for a separate IPO process.