The Bitcoin Asia conference was recently held in Hong Kong on August 29, 2025. What gathered the most attention at this conference was the bold statement made by the son of US President Donald Trump. Eric Trump, son of Donald Trump, made an interesting claim that the bitcoin industry in the US can hit the $ 1 million mark in the coming years. In the same breath, Trump also mentioned that China is a force to be reckoned with when it comes to the global cryptocurrency market. However, he also acknowledged that the United States is having a growing influence in the worldwide cryptocurrency market, which is evident through all the recent crypto policy updates.
It is a thing of common knowledge that at present the largest digital asset in the world is Bitcoin. It continues to make strides in the US’s cryptocurrency market as it registered an impressive rise of 18% in the user base compared to the last year. Bitcoin registered an all-time high in the US’s crypto market in August this year when it hit an all-time high of $ 124,480. Bitcoin in the US at present is being traded at a level that is much lower than its actual capacity. At present, Bitcoin is being traded at $ 110,000; however, Trump admitted that Bitcoin in the USA will reach its flying trajectory sooner or later. He affirmed his statement further by stating that there is no question that Bitcoin will cross the $1 million mark in the USA.
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China’s Complex Role in Global Cryptocurrency
Eric Trump also acknowledged that China can play a vital role in the global cryptocurrency market. Though China has never shown much interest in crypto trading, with the USA open to cryptocurrency trading between the two countries is expected to rise in the coming years. The friendlier crypto regulations in the USA can also play a role in it. One of the most noticeable global cryptocurrency trends at present is the rise of Hong Kong as a global cryptocurrency exchange.
The city became one of the first regions in the world to pass the landmark stablecoin bill. This decision, too, can play a role in attracting cryptocurrency companies from the USA to the eastern side of the globe. Trump also quipped with a chirpy remark that the US and China understand the concepts of bitcoin and cryptocurrency better than most countries in the world.
The trump family has been known to be a vocal advocate of Bitcoin. It is quite evident from the fact that the family has played an active role in the promotion of several cryptocurrency exchanges in the USA.
Many industrial experts from around the globe are confident that the US’s cryptocurrency strategy is playing a major role in shaping the global cryptocurrency policy. The experts also believe that the US is leading the way in shaping the global cryptocurrency rules and regulations. All these become a part of the broader crypto policy updates, which state all the exchange rates of the cryptocurrencies. Cryptocurrency institutional and taxation rules also become part of these policy updates. Many experts believe that the introduction of a well-defined crypto tax in the USA is expected to bring about a great amount of clarity in the minds of both traders and corporations.
Though the $1 million bitcoin target of Eric Trump at this point in time sounds very ambitious, it also shows how confident the administration is about the growth of the US’s cryptocurrency industry. The present crypto regulations in the USA is expected to solidify the US’s position as the leader of the global cryptocurrency market. While China’s strategic cryptocurrency policy can set up another interesting USA-China rivalry. For Eric Trump, the path to $1 million in bitcoin is not a matter of “if” but “when.”