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Eric Trump Still Betting Big on Bitcoin, Says $1 Million Price Tag Is Coming

MarketDash Editorial Team
14 days ago
Eric Trump, co-founder of American Bitcoin Corp., doubled down on his bullish Bitcoin outlook in a weekend interview, calling the current dip a buying opportunity and reaffirming his prediction that BTC will eventually hit $1 million per coin.

Buying the Dip, Trump Style

American Bitcoin Corp. (ABTC) co-founder Eric Trump sat down with CNBC over the weekend and had a simple message for cryptocurrency investors: now's the time to buy Bitcoin.

"This is a great time to buy Bitcoin. There's no question," Trump said during the Saturday interview.

Trump, who also serves as executive vice president of the Trump Organization, touched on a familiar investor psychology problem. People complain when Bitcoin is expensive, he noted, but then when it drops, they freeze up and can't decide whether to buy it or not.

The Million Dollar Dream Lives On

"Bitcoin has been the greatest asset of our time," Trump declared, pointing to its "unbelievable" returns over the past decade.

He stood by his long-standing prediction that Bitcoin will eventually hit $1 million per coin. The catch? It's going to take "some years" to get there. When you're already this far into a bull thesis, might as well stick with it.

When Predictions Meet Reality

Trump's enthusiasm for Bitcoin and cryptocurrency more broadly isn't exactly new. His personal experiences with debanking have been a major driving force behind his crypto advocacy.

Here's where things get interesting though. Trump had previously projected that the fourth quarter of 2024 would be "unbelievable" for the cryptocurrency market. Well, we're now halfway through that quarter, and things have definitely not unfolded as expected. Bitcoin is down 23% in Q4, which stands in stark contrast to the 47% gains it delivered during the same quarter last year.

That's not exactly the "unbelievable" performance most investors were hoping for, unless you count unbelievably disappointing.

Following the Money

Trump's company is putting its money where its mouth is. American Bitcoin Corp. currently holds 4,004 BTC in its reserves, worth approximately $350 million according to BitcoinTreasuries.net.

As for the price action, Bitcoin was trading at $87,344.15 at the time of writing, up 1.49% over the previous 24 hours.

American Bitcoin Corp. (ABTC) shares didn't fare quite as well, closing 3.28% lower at $4.430 during Friday's regular trading session. The stock has been struggling across multiple metrics, lagging on value and showing downward trends in the short, medium, and long term.

So while Trump remains confident that Bitcoin's best days are ahead, the market seems to be taking a more cautious approach for now. Whether his million-dollar prediction eventually comes true remains to be seen, but at least he's giving himself plenty of time to be right.

Back to News

Eric Trump Still Betting Big on Bitcoin, Says $1 Million Price Tag Is Coming

MarketDash Editorial Team
14 days ago
Eric Trump, co-founder of American Bitcoin Corp., doubled down on his bullish Bitcoin outlook in a weekend interview, calling the current dip a buying opportunity and reaffirming his prediction that BTC will eventually hit $1 million per coin.

Buying the Dip, Trump Style

American Bitcoin Corp. (ABTC) co-founder Eric Trump sat down with CNBC over the weekend and had a simple message for cryptocurrency investors: now's the time to buy Bitcoin.

"This is a great time to buy Bitcoin. There's no question," Trump said during the Saturday interview.

Trump, who also serves as executive vice president of the Trump Organization, touched on a familiar investor psychology problem. People complain when Bitcoin is expensive, he noted, but then when it drops, they freeze up and can't decide whether to buy it or not.

The Million Dollar Dream Lives On

"Bitcoin has been the greatest asset of our time," Trump declared, pointing to its "unbelievable" returns over the past decade.

He stood by his long-standing prediction that Bitcoin will eventually hit $1 million per coin. The catch? It's going to take "some years" to get there. When you're already this far into a bull thesis, might as well stick with it.

When Predictions Meet Reality

Trump's enthusiasm for Bitcoin and cryptocurrency more broadly isn't exactly new. His personal experiences with debanking have been a major driving force behind his crypto advocacy.

Here's where things get interesting though. Trump had previously projected that the fourth quarter of 2024 would be "unbelievable" for the cryptocurrency market. Well, we're now halfway through that quarter, and things have definitely not unfolded as expected. Bitcoin is down 23% in Q4, which stands in stark contrast to the 47% gains it delivered during the same quarter last year.

That's not exactly the "unbelievable" performance most investors were hoping for, unless you count unbelievably disappointing.

Following the Money

Trump's company is putting its money where its mouth is. American Bitcoin Corp. currently holds 4,004 BTC in its reserves, worth approximately $350 million according to BitcoinTreasuries.net.

As for the price action, Bitcoin was trading at $87,344.15 at the time of writing, up 1.49% over the previous 24 hours.

American Bitcoin Corp. (ABTC) shares didn't fare quite as well, closing 3.28% lower at $4.430 during Friday's regular trading session. The stock has been struggling across multiple metrics, lagging on value and showing downward trends in the short, medium, and long term.

So while Trump remains confident that Bitcoin's best days are ahead, the market seems to be taking a more cautious approach for now. Whether his million-dollar prediction eventually comes true remains to be seen, but at least he's giving himself plenty of time to be right.