At the Wyoming Blockchain Symposium in Jackson Hole, Eric Trump, son of former President Donald Trump, made a highly bullish prediction for Bitcoin, asserting his conviction that it will eventually surpass $1 million in value. He reinforced an earlier forecast, stating Bitcoin could hit $175,000 by the end of this year. Trump revealed he now spends over half his time on cryptocurrency projects and has adopted the moniker of a 'Bitcoin Maxi,' reflecting his belief in Bitcoin's supremacy.
Trump criticized traditional financial systems for slow transactions and highlighted blockchain technology as a solution. His comments followed similar optimistic forecasts from Coinbase CEO Brian Armstrong, signaling growing institutional confidence.
Backing his words with action, Trump's company, American Bitcoin, is set to go public on the Nasdaq via a merger with Gryphon Digital Mining. This follows a March merger with another Trump-family-owned entity. Eric and Donald Trump Jr. now hold a 20% stake in the new company, with Hut 8 owning the remaining 80%. This move underscores the Trump family's serious entry into the crypto industry, diverging from their traditional business ventures.
