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Why Eric Trump Thinks Bitcoin Will Hit $1 Million

by admin August 30, 2025

In brief

Eric Trump said this week that he expects Bitcoin to reach a price of $1 million in the future.
President Trump’s son highlighted the major demand and limited supply for the top crypto asset.
He told listeners that buying now will age terrifically in the next five years.

Eric Trump thinks Bitcoin reaching a price of $1 million is inevitable.

The crypto entrepreneur and son of U.S. President Donald Trump spoke highly of the top crypto asset, making bold price claims and encouraging listeners to “buy now,” during a fireside chat at the Bitcoin Asia conference in Hong Kong.

“There’s no question in my mind that Bitcoin hits a million dollars,” Trump said in conversation with Nakamoto Holdings CEO, David Bailey. “And by the way, I don’t think it has to stop there. I think it could go a lot higher.”

To Trump, the thesis for $1 million Bitcoin seems simpler than predictions based on money printing or technical analysis.

“You have every person who wants an asset class, and you have a very limited supply,” he said. “It doesn’t take a genius to figure out where that goes.”

Trump added that the growing utility of the asset will also play a role in its appreciation. In recent months, there’s been a surge of companies buying Bitcoin to hold in digital asset treasuries, and spot Bitcoin ETFs have seen unprecedented demand since launching in the U.S. in early 2024. And the ecosystem of Bitcoin financial services continues to grow.

“It was digital gold. It was a store of value,” he said. “Every single day they’re figuring out new ways to kind of stake it, to get yield on it, to use it for everyday purchases. You’re taking this digital gold, that was really just a store of value before, and you’re putting massive utility behind Bitcoin.”

Trump has a strong incentive to be bullish on BTC given his enmeshment with the crypto industry, where he said he spends “90% of his time” now.

Not only does he maintain connections to Trump Media, which operates Truth Social and has raised $2.5 billion to buy Bitcoin and applied for its own spot Bitcoin and Ethereum ETFs, but he also serves as the co-founder of Bitcoin miner, American Bitcoin, which is expected to go public in September. Eric Trump is also a key figure behind the DeFi platform, World Liberty Financial, which has been promoted by President Trump.

The President’s eldest son hasn’t been shy about telling people to invest in crypto assets, including those he’s connected to. In February the first son told his X followers “it would be a great time to add ETH”—before it dropped 18% in the following days.

Ethereum has since rebounded significantly, making any buyers at the time of his post profitable as it recently stormed to a new all-time high. That said, ETH is has been on the way down since setting a new peak on Sunday.

He’s sharing a similar buy signal for Bitcoin now.

“I hear from people all the time: ‘Should I get into cryptocurrency? Did I miss it? Am I too late?’ And I literally start laughing at them,” Trump remarked. “We haven’t even scratched the surface of what Bitcoin is going to be. This is the time to buy. Volatility is your friend—buy right now, shut your eyes, hold it for the next five years, and you’re going to do terrifically well.”

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August 30, 2025 0 comments

Crypto Trends

Bitcoin OG Whale Sells $215 Million in BTC, Buys Ethereum

by admin August 30, 2025

A prominent Bitcoin billionaire is continuing his aggressive pivot into Ethereum, according to data from whale-tracking platform Lookonchain.

Over the past 12 hours alone, the investor sold 2,000 BTC worth $221 million and used the proceeds to purchase 49,850 ETH valued at $219 million on spot markets.

In total, the whale has accumulated 691,358 ETH worth roughly $3 billion in just the past two weeks, marking one of the most significant ongoing shifts of capital from Bitcoin into Ethereum seen in recent months.

After briefly pausing his ETH purchases for two days, the whale returned to the market with force, depositing another 1,000 BTC ($108.27 million) to Hyperliquid, where he sold the coins and converted the funds directly into spot Ethereum.

Bitcoin price down 6%

Bitcoin has been steadily declining over the past week. According to the data from CoinMarketCap, BTC price is down 5.96% from $115,560 to $108,572.

Source: CoinMarketCap

Bitcoin (BTC) is priced at $108,541.96, rising 1.35% over the past day. Its market cap is $2.16 trillion, showing a 1.35% decline, while the 24-hour trading volume is $72.74 billion, up 11.58%.

The fully diluted valuation (FDV) stands at $2.27 trillion, with a volume-to-market-cap ratio of 3.41%. The total supply is 19.91 million BTC.

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August 30, 2025 0 comments

Life Term For 14 In India Over Bitcoin Extortion &Amp; Kidnapping Case

GameFi Guides

Life Term for 14 In India Over Bitcoin Extortion & Kidnapping Case

by admin August 30, 2025

Ahmedabad City Sessions Court has convicted 14 accused, including former BJP MLA Nalin Kotadiya and senior Gujarat police officers, in the 2018 Bitcoin extortion case. They were sentenced to life imprisonment under relevant sections of the IPC and the Prevention of Corruption Act.

According to a report by The New India Express, the case started in 2018 with the kidnapping of Shailesh Bhatt, a builder and Bitcoin trader from Surat. Reportedly, a group of police officers in official government cars took him from a gas station to a farmhouse. The accused took 200 Bitcoins, worth about ₹12 crore at the time, and asked for ₹32 crore in ransom. Bhatt also reported that someone posing as an agent from India’s Central Bureau of Investigation (CBI) tricked him into meeting.

The investigation also revealed that Bhatt had previously stolen ₹150 crore worth of Bitcoin from a Surat man named Dhawal Mawani. When the perpetrators found this out, they, including Kotadiya, planned to steal from Bhatt.

The investigation initially started after Bhatt filed an official complaint with the Indian Criminal Investigation Department (CID). As the CID’s probe went on, they detained 10 police officials, including Amreli SP Jagdish Patel, Amreli LCB PI Anant Patel, and Ketan Patel, a lawyer from Surat. Their questioning quickly pointed towards Jagdish Patel and Kotadiya. Later, a non-bailable warrant was also issued for Kotadiya’s arrest while he went into hiding.

The case got even bigger when a real CBI Inspector, Sunil Nair, got involved. Nair is said to have asked Bhatt for a bribe and then threatened to start a false probe into him if he failed to pay him.

After Shailesh Bhatt’s explosive complaint, CID got to work and arrested everyone involved in the extortion. The trial took place at the ACB Special Court of the City Civil and the Sessions Court in Ahmedabad, where the state brought in an incredible 172 witnesses against them.

The defense, on the other hand, could only call one witness. Even though 92 witnesses said they were hostile, the court judged the evidence and reasons good enough to convict the accused.

In this case, while justice has been served, globally a surge in crypto-related crimes, specifically those involving extortion and kidnapping, can be seen. In February, the Spanish police had arrested 3 British citizens for kidnapping a UK cryptocurrency trader in Marbella and demanding a £25,000 ransom.

Also Read: How Social Engineering Fooled a Millionaire Out of $1.2M in Crypto

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August 30, 2025 0 comments

NFT Gaming

Bitcoin (BTC) Price Prediction for August 30

by admin August 30, 2025

The rates of some coins are rising today while others are in the red zone, according to CoinStats.

Top coins by CoinStats

BTC/USD

The price of Bitcoin (BTC) has declined by 1.23% over the last day.

Image by TradingView

On the hourly chart, the rate of BTC is about to break the local resistance of $108,663. If that happens and the daily bar closes above that mark, the upward move is likely to continue to the $110,000 zone.

Image by TradingView

On the daily time frame, the price of the main crypto has made a false breakout of yesterday’s bar low. Even if today’s candle closes far from that mark, buyers might need more time to accumulate energy for a further move.

Crypto Liquidations Top $500 Million as Bitcoin, Ethereum and XRP Sink Into the Weekend

by admin August 30, 2025

In brief

Bitcoin dropped on Friday, bringing Ethereum and other major coins and tokens with it.
Cryptocurrency prices dropped on hot inflation data, with stocks also dipping on Friday.
September is typically a bad month for crypto, though Bitcoin and Ethereum just recently hit new highs.

Bitcoin dropped below the $109,000 mark on Friday—bringing other cryptocurrencies with it—as stocks and other risk assets dipped while traders digested new inflation data.

The leading cryptocurrency was trading at its lowest level since early July on Friday morning New York time at $108,617, CoinGecko data shows.

Over a 24-hour period, Bitcoin is down by close to 4%. Zooming out further and the flagship cryptocurrency has taken an 8% hit over the last 30 days. Earlier this month, the coin hit a new all-time high of $124,128 but it’s now 12% below that level.

Ethereum, too, fell over the last day, erasing its gains over the past seven days after breaking its price record from 2021 last week. The second biggest coin was trading for nearly $4,295, a 6% dip over the last 24 hours. Ethereum’s record stands at $4,946, as set on Sunday, with ETH down about 13% since then.

The drop in crypto prices has hurt futures traders who were longing digital coins and tokens, or betting on their prices to go up.

Over the past 24 hours, $446 million in long positions have been liquidated across all cryptocurrencies, CoinGlass data shows. A total of $535 million across all positions, including shorts, have been liquidated.

Other major coins like XRP also plunged: the third-biggest cryptocurrency was recently trading for $2.84 after dipping by 6%; Solana dropped by 3% to hit a price of $209, falling after a six-month high above $217 on Thursday.

The dip in prices comes after the personal consumption expenditures price index on Friday showed that core inflation ran at a 2.9% in July, meeting estimates but coming in higher than June.

Stocks dropped Friday as well, with the S&P 500 dipping 0.6% lower and the Nasdaq losing 0.9%. Bitcoin and other cryptocurrencies have recently traded like U.S. equities as both asset classes experience volatile price movements.

September is typically a bad month for Bitcoin—and stocks—and analysts told Decrypt that a steeper sell-off could happen during the month.

Even with Ethereum’s dip, Myriad Markets users still believe that ETH will rebound and hit a new all-time high of $5,000 by the end of the year, giving that a 75% likelihood of happening. (Disclosure: Myriad is a product of Decrypt’s parent company, DASTAN.)

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August 30, 2025 0 comments

GameFi Guides

Strategy Investors Drop Lawsuit Over Bitcoin Profitability Promises

by admin August 30, 2025

In brief

Investors have dropped a class-action lawsuit against Bitcoin giant Strategy, which accused the company of misleading shareholders about how new accounting rules would affect its profitability.
The case centered on Strategy’s switch to fair value accounting, which let it mark Bitcoin’s price swings on its balance sheet.
Critics said the firm overstated how much this change would boost earnings. Despite Bitcoin’s recent surge, Strategy reported a $4.22 billion loss in early 2025, sparking backlash.

Investors in Bitcoin behemoth Strategy have dismissed a class-action lawsuit against the company for allegedly making false and misleading statements about its profitability.

The suit was initially filed in May, accusing the company—famous for pivoting from software development into a full-time strategy of Bitcoin accumulation—of misleading investors about the impact new crypto accounting practices would have on its profitability.

This year, Strategy, which currently owns over $68 billion worth of BTC, switched to a fair value accounting standard that allowed it to record quarter-to-quarter swings in the price of held Bitcoin on its balance sheets.

Previously, the firm recorded its Bitcoin at original purchase cost; while it could write down drops in the token’s value as “impairment charges,” it could not mark up price increases unless tokens were sold off.

Investors who filed suits against Strategy and its leadership earlier this year argued the company misled them by overstating the positive impact this new accounting strategy would have on the firm’s profitability.

When Strategy announced a net loss of $4.22 billion in the first quarter of 2025—despite Bitcoin’s historic surge over the prior six months—shareholders began revolting.

But on Thursday, plaintiffs in one of the most prominent lawsuits against the company opted to voluntarily dismiss their claims. The jointly stipulated dismissal, filed in a federal court in eastern Virginia, where Strategy is based, was made with prejudice—meaning the claims cannot be made in court again.

Decrypt reached out to the plaintiffs’ attorneys asking why they had dropped their claims, or if any settlement had been reached with Strategy, but did not immediately receive a response.

In recent weeks, Strategy has faced other criticisms about how it presents its unorthodox business model to shareholders.Earlier this month, a prominent Wall Street advisor slammed the company for comparing its price-to-earnings ratio to the likes of Apple and Nvidia—a move that was “100% fraudulent,” the advisor said, because the company’s recent performance was driven by a “one-off” increase in Bitcoin’s price, not business fundamentals likely to recur.

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Crypto Trends

El Salvador Splits Bitcoin Into Several Wallets Amid Quantum Risk

by admin August 30, 2025

El Salvador has redistributed its Bitcoin reserve holdings into 14 new wallet addresses as a precaution against potential quantum computing threats.

“By splitting funds into smaller amounts, the impact of a potential quantum attack is minimized,” El Salvador’s Bitcoin Office said in an X post Friday, adding that each Bitcoin (BTC) address holds up to 500 BTC.

The Bitcoin Office explained that once funds are spent from a Bitcoin address, its public keys are revealed and vulnerable — making it a target for quantum computers to crack — should the technology evolve into a significant threat in the future.

Source: Nick Neuman

More than 6 million Bitcoin — worth around $650 billion — could be at risk if quantum computers become powerful enough to crack elliptic curve cryptography (ECC) keys, quantum research company Project Eleven said in April.

Onchain transfers have been made

El Salvador previously held its 6,274 Bitcoin stash (worth $678 million) in a single address, but blockchain data shows those funds were transferred into 14 new addresses on Friday.

El Salvador’s Bitcoin transfers into 14 new Bitcoin addresses.Source: Mempool.space

Quantum isn’t a worry, for now

While El Salvador’s move was praised by industry pundits, Project Eleven noted that quantum computing is still far away from being capable of hacking Bitcoin. A Bitcoin private key contains 256-bits, and no quantum computer running Shor’s algorithm has managed to even crack a 3-bit key yet.

Michael Saylor, the architect behind Strategy’s Bitcoin playbook, said quantum computing’s threat to Bitcoin is mere hype in June, adding that if it ever became a serious issue, the protocol’s core developers and hardware manufacturers would implement fixes.

“The answer is: Bitcoin network hardware upgrade, Bitcoin network software upgrade, just like [how] Microsoft, Google, the US government upgrade.”

El Salvador still entangled in IMF drama

El Salvador’s Bitcoin buys have been called into question after an International Monetary Fund report in July claimed that the Central American country has not made any new Bitcoin purchases since February.

Related: El Salvador’s Bukele reacts as $1B Bitcoin holdings bet increases on Kalshi

The country’s Bitcoin Office hasn’t directly addressed the claims and has continued to post about its Bitcoin purchases on X.

El Salvador secured a $1.4 billion funding deal from the IMF in December 2024 in exchange for scaling back its Bitcoin initiatives, among other conditions — though the terms appear to be under dispute between the two parties.

Magazine: 3 people who unexpectedly became crypto millionaires… and one who didn’t

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August 30, 2025 0 comments

NFT Gaming

The Flippening? Ethereum ETFs Attract $4 Billion This Month, While Bitcoin Products Struggle

by admin August 30, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ethereum (ETH) exchange-traded funds (ETFs) are set to close August 2025 with total net inflows exceeding $4 billion, significantly outpacing their Bitcoin (BTC) counterparts, which recorded more than $600 million in outflows during the same period.

Ethereum ETFs Outshine Bitcoin ETFs

According to data from SoSoValue, spot Ethereum ETFs have attracted $4.04 billion in net inflows so far this month. In contrast, spot Bitcoin ETFs saw $628 million in net outflows in August.

Among Ethereum-focused funds, BlackRock’s ETHA ETF leads the market with $16.88 billion in net assets as of August 28. Grayscale’s ETHE follows with $4.80 billion, while Fidelity’s FETH holds $3.56 billion.

The total net assets tied in spot ETH ETFs currently stands slightly above $29.5 billion. This figure represents almost 5.5% of Ethereum’s total market cap.

On the Bitcoin side, BlackRock’s IBIT remains the leader with $83.8 billion in net assets, followed by Fidelity’s FBTC at $22.45 billion and Grayscale’s GBTC at $20.01 billion.

Although BTC ETFs still dominate in overall value, the latest data suggests the gap between Bitcoin and Ethereum investment products is narrowing. If the current momentum continues, August 2025 could mark the month when ETH ETFs outperformed BTC ETFs by their widest margin yet.

One of the major factors driving Ethereum ETF inflows is ETH’s growing appeal as a balance sheet asset. Corporate adoption of ETH has accelerated this year, bolstering confidence in its long-term role in institutional portfolios.

US-based spot ETH ETFs recorded more than $4 billion in net inflows in August 2025 | Source: SoSoValue.com

This year, several notable companies announced plans to add ETH to their balance sheets. For instance, SharpLink Gaming recently doubled down on its ETH bet, adding another 56,533 ETH to enhance its ETH reserves.

Similarly, ETHZilla – an Ethereum treasury company – recently increased its total ETH holdings to more than 102,000 ETH. Data from CoinGecko shows that, currently, BitMine is the leading publicly-listed company with the largest ETH reserves – holding over 1.7 million ETH.

The top 10 publicly-listed companies with the largest ETH treasuries | Source: CoinGecko.com

Will ETH Surge Past $5,000?

Institutional sentiment toward ETH continues to strengthen. VanEck CEO Jan van Eck recently described ETH as “the Wall Street token,” highlighting its growing role in enabling stablecoin transfers across financial institutions.

Despite its recent rejection from close to $5,000, the overall demand for ETH remains vehemently strong. As a result, ETH reserves on exchange continue to dwindle at a rapid pace, which may lead to quick price appreciation for the digital asset in the near-term. At press time, ETH trades at $4,340, down 4% in the past 24 hours.

Ethereum trades at $4,340 on the daily chart | Source: ETHUSDT on TradingView.com

Featured image from Unsplash.com, charts from SoSoValue, CoinGecko and TradingView.com

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August 30, 2025 0 comments

Crypto Trends

Bitcoin To Hit $1 Million? Eric Trump Shares Optimistic Outlook On Cryptocurrency

by admin August 30, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

At the Bitcoin Asia conference in Hong Kong, Eric Trump, the son of President Donald Trump, predicted that the market’s leading cryptocurrency, Bitcoin (BTC) could soar to $1 million within the next few years, which could represent a major 825% increase from current levels.

Eric Trump Bullish On Bitcoin

As reported by Reuters earlier on Friday, during a panel discussion, Eric Trump emphasized China’s significant influence in the cryptocurrency sector, referring to the country as “a hell of a power” in driving crypto innovation.

Nevertheless, China still seems far from the US’s role in adopting cryptocurrencies, as the Asian country continues to face significant restrictions on operating digital assets.

Despite these restrictions by regulators since 2021, Mainland China is reportedly exploring yuan-backed stablecoins to enhance its global usage. Meanwhile, Hong Kong has taken steps to establish itself as a digital asset hub, passing a stablecoin bill in May.

On the other hand, under President Trump’s leadership, the United States has proposed establishing a Bitcoin reserve and passing three key crypto bills, including the GENIUS Act, which could accelerate the use of dollar-pegged cryptocurrencies in everyday transactions.

This has significantly contributed to the broader market’s price surge with Bitcoin reaching a new record of $124,000 on August 14, and Ethereum (ETH) also reaching an all-time high (ATH) just below the $5,000 mark last weekend.

Despite the cryptocurrency’s recent dip toward $108,000, Eric Trump confidently stated, “There’s no question Bitcoin hits $1 million,” citing strong institutional demand and the cryptocurrency’s limited supply as key factors supporting his optimism.

Crypto Talks Between Trump And Xi Jinping?

When asked if President Donald Trump and Chinese President Xi Jinping might soon discuss cryptocurrencies, Eric Trump suggested that both nations likely possess a deeper understanding of digital currencies than most other countries.

He highlighted the support the Bitcoin community has shown for his father, expressing hope that such backing would yield significant returns for both the community and the Trump family.

In recent months, the Trump family has ventured into various cryptocurrency initiatives, including the launch of a decentralized finance (DeFi) platform, a stablecoin, a Bitcoin mining operation, and the applications of crypto-focused exchange-traded funds (ETFs).

Notably, American Bitcoin, a new crypto miner founded in collaboration with Hut 8 and backed by Eric Trump and his brother, Donald Trump Jr., is preparing for a Nasdaq listing next month.

Reuters also reported that during the same conference, crypto exchange Binance founder and former CEO Changpeng Zhao (CZ) remarked that the US is setting a precedent for progressive regulations that could prompt other governments to take similar actions.

The 1D chart shows BTC’s price correction. Source: BTCUSDT on TradingView.com

Featured image from DALL-E, chart from TradingView.com

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August 30, 2025 0 comments

As Bitcoin strengthens, Strategy faces a test of relevance

GameFi Guides

Investors withdraw lawsuit against Strategy over Bitcoin accounting practices

by admin August 30, 2025

A proposed class action lawsuit against Strategy which accused the business intelligence company and its executive chairman, Michael Saylor, of misleading investors about the risks of its substantial Bitcoin purchases, has been voluntarily dismissed by the plaintiffs, according to Bloomberg.

Summary

Investors have voluntarily dismissed a proposed class action against Strategy, closing claims the company misled shareholders over Bitcoin risks and accounting.
The lawsuit, filed in May, accused Michael Saylor and other executives of overstating Bitcoin gains and obscuring volatility and accounting impacts.

According to a Bloomberg report on August 29, investors voluntarily dismissed their proposed class action lawsuit against Strategy with prejudice, permanently closing the case.

The suit, originally filed in May by law firm Pomerantz LLP in the U.S. District Court for the Eastern District of Virginia, had named executives including Michael Saylor, CEO Phong Le, and CFO Andrew Kang as defendants.

Plaintiffs had argued that Strategy overstated potential gains from its Bitcoin strategy while downplaying volatility risks and failed to clearly disclose the effects of adopting new accounting standards for digital assets. The plaintiffs’ abrupt decision to withdraw all claims, filed just a day prior on August 28, offers no public explanation for their retreat.

Accounting shift and mounting criticism

Earlier this year, Strategy adopted the Financial Accounting Standards Board’s Accounting Standards Update No. 2023-08, which governs the accounting for crypto assets. The shift to fair value accounting allowed the company to record its massive Bitcoin holdings at their market value each quarter, with unrealized gains and losses flowing directly into the net income statement.

Plaintiffs argued the company failed to fully disclose how this would affect its reported earnings, pointing to Strategy’s $4.22 billion net loss in the first quarter of 2025 as proof that the accounting method was being presented to investors in a misleading light.

In addition to the lawsuit, Strategy has faced scrutiny on other fronts. Earlier this month, a prominent Wall Street advisor criticized the company for comparing its valuation metrics to tech giants like Apple and Nvidia, arguing that its recent performance was fueled by a one-time surge in Bitcoin rather than sustainable revenue growth.

The rebuke underscored the growing skepticism from parts of the financial establishment about whether Strategy’s unique model should be benchmarked against conventional corporate peers at all.

Despite the criticisms, Strategy remains the largest corporate holder of Bitcoin, with 632,457 BTC on its balance sheet, worth about $68.32 billion according to BitcoinTreasuries.net.

On August 25, Michael Saylor highlighted that the firm’s proprietary Bitcoin Yield metric had climbed to 25.4% year-to-date, framing it as evidence of long-term shareholder value tied to Bitcoin accumulation.

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August 30, 2025 0 comments