CMC News

$BTC Hits $1M Prediction Reinforced by #EricTrump

#EricTrump doubled down on his $1 million $BTC price prediction during the $BTC 2025 Asia conference in Hong Kong on Friday. The American Bitcoin co-founder expressed unwavering confidence in the long-term trajectory.

Nation states and Fortune 500 companies are aggressively accumulating $BTC, according to Trump's conference remarks. He emphasized that major institutional adoption is driving unprecedented demand for the digital asset.

"There's no question that BTC hits $1 million," #Trump told the packed Hong Kong audience.

The prediction maintains Trump's December 2024 timeline of several years for $BTC to reach seven figures. Current market participants remain "early" despite increased institutional interest, he noted.

American Bitcoin (ABTC) received shareholder approval for a reverse merger with Gryphon Digital Mining in August. The combined entity will trade under the ABTC ticker on Nasdaq starting in September.

#AmericanBitcoin stock surged over 230% since the initial May merger announcement. Thursday saw an additional 42% rally ahead of the September listing completion.

ABTC holds 215 $BTC officially, though third-party data suggests reserves could approach 1,941 $BTC. The mining firm positions itself as a pure-play $BTC accumulation strategy.

Despite long-term bullish predictions, $BTC faces near-term technical pressure after dropping 13% from its all-time high.

The asset trades below its 50-day exponential moving average, a key dynamic support level watched by technical analysts. This breach could indicate additional short-term downside potential.

Trump emphasized that wealthy families and major corporations recognize $BTC's value as a digital store of wealth. This institutional recognition supports his million-dollar price target over the coming years.

The merger allows American Bitcoin to enter public markets without conducting a separate IPO process.