 
 
Eric Trump, son of US President Donald Trump, praised the impact of China on the crypto market and stated that there’s “no question” the nation had “made an unbelievable mark on Bitcoin and cryptocurrencies.”
“There is no question that you have made an unbelievable mark on Bitcoin and cryptocurrencies,” Eric told the Hong Kong audience, responding to David Bailey’s claim that China is the “other Bitcoin superpower,” alongside the U.S. “There’s no question that China is a hell of a power when it comes to this world and doing it well.”
Trump framed the U.S.–China dynamic as central to the future of digital finance, agreeing that both countries “are definitely leading the way on cryptocurrency.”
The American businessman gave the same credit to the Middle East, noting the huge way the jurisdiction has adopted crypto and the pace of development in the industry.
Eric also lauded the passion for the industry in a handful of small, unnamed countries in South America, but asserted that “the United States right now is winning the digital revolution” owing to robust political backing and an influx of institutional inflows from Wall Street companies, sovereign wealth funds, and retirement plans.
 
His comments come despite mainland China banning institutional crypto trading and exchanges in 2017, and declaring all crypto-related transactions illegal in September 2021, targeting platforms and intermediaries rather than individuals. However, crypto ownership remains legal, and peer-to-peer activity continues in a legal gray zone, often tolerated in practice.
Trump Family’s Deepening Ties With Crypto
In contrast, the United States has embraced the crypto industry under President Trump, who recently signed into law a landmark stablecoin law, established a strategic Bitcoin reserve in a bid to make the country the “crypto capital of the world” and a “Bitcoin mining powerhouse.”
Eric Trump told Bailey that the Biden administration’s restriction of crypto companies from accessing banking services by applying regulatory pressure led him to become pro-crypto.
“People always ask me, if the banks hadn’t gone after your family, if they hadn’t shut down all your accounts, do you think you’d be doing this?” Eric Trump noted. “I said, I don’t think I would be here … I don’t think I would have fallen into cryptocurrency the same way.”
Bitcoin’s price slipped below $109,000 on Friday, days after setting a new lifetime high of $124,128 on August 14. The premier crypto was valued at $108,753 as of publication time, down 3.9% on the day.
According to Eric, investors should buy BTC and hold it for the long haul without selling, as it is the “greatest asset in the world.” He then doubled down on his $1 million per Bitcoin bold price forecast.
“I really believe in the next several years, Bitcoin hits a million dollars,” he declared.