Eric Trump Doubles Down on $1M Bitcoin Prediction as American Bitcoin (ABTC) Prepares Nasdaq Debut
Eric Trump Doubles Down: “There’s No Question Bitcoin Hits $1 Million” — What It Means for ABTC and Markets
At the Bitcoin Asia conference in Hong Kong, Eric Trump reiterated his high-conviction view that Bitcoin (BTC) will eventually reach the $1,000,000 mark — a prediction he first publicized in late 2024. The remarks come as American Bitcoin (backed by the Trump family) prepares to enter public markets via a reverse merger with Gryphon Digital Mining and begin trading under the ticker ABTC. 0
What Eric Trump said at Bitcoin Asia (Hong Kong)
During a packed session at the Bitcoin Asia conference, Eric Trump said “there’s no question bitcoin hits $1 million,” pointing to increasing adoption from nation states, wealthy families and Fortune 500 companies. His comments reinforced a public narrative that institutional demand — not just retail speculation — will drive Bitcoin’s long-term price trajectory. 2
ABTC / Gryphon merger: the mechanics and why it matters
Gryphon Digital Mining shareholders recently approved a reverse merger with American Bitcoin that will rebrand the combined company and allow it to list on Nasdaq under the ticker ABTC. A reverse stock split and other listing steps are being executed to meet Nasdaq requirements, and the company expects to begin trading in early September. This route lets American Bitcoin access public capital markets without a traditional IPO. 3
Company reserves and acquisition strategy
Public filings and reporting disclose that American Bitcoin has verifiably held at least 215 BTC on its books, while third-party trackers suggest the company’s total reserves could be much higher (estimates near ~1,941 BTC). The firm positions itself as a pure-play accumulation vehicle, combining mining operations with strategic BTC purchases. These treasury figures are frequently cited by investors evaluating ABTC as a direct exposure to Bitcoin price movements. 4
Market reaction: stocks and price action
Since the merger announcement, Gryphon’s shares surged dramatically (reports indicate multi-hundred-percent gains from some earlier trading levels, plus a sizable single-day rally ahead of the Nasdaq listing). This spike reflects investor enthusiasm for politically-linked, high-conviction crypto plays, but it also raises concerns about speculative froth and short-term overvaluation. 5
Technicals and short-term risks
Despite long-term bullish forecasts, Bitcoin recently pulled back from its all-time highs and trades below its 50-day exponential moving average (EMA), a key dynamic support many traders use to assess momentum. A sustained breach of that EMA can signal near-term downside pressure even as the long-term narrative remains intact. Traders should weigh position sizing and stop discipline against longer-term accumulation strategies. 6
What this means for investors and content creators
- Long-term holders: If you believe institutional adoption and limited supply will continue, the ABTC listing may offer a way to gain corporate exposure to BTC accumulation. Check treasury transparency and corporate governance before investing. 7
- Short-term traders: Be mindful of elevated volatility around the Nasdaq listing and headline risk tied to politically connected figures. Technicals suggest caution until momentum confirms. 8
- Content creators & publishers: This story is rich for localized coverage (e.g., “ABTC: What the Nasdaq Listing Means for Somali Investors”), explainers (how reverse mergers work), and timely SEO content around keywords like “Eric Trump bitcoin prediction” and “ABTC Nasdaq listing.”
Bottom line
Eric Trump’s $1M prediction injects a headline-grabbing narrative into a broader market story: large institutions and public companies are increasingly positioning for Bitcoin exposure, and the ABTC Nasdaq debut will be watched as a political and market-driven event. That said, the path to any multi-digit price milestone will include volatility, regulatory scrutiny and technical corrections that investors need to plan for. 9
Sources: Reuters / Cointelegraph / Gryphon Digital Mining press release / CryptoNews / BitcoinTreasuries data. 10
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