Bitcoin and crypto price have rocketed his week, climbing as U.S. bitcoin adoption is predicted to trigger global “panic.”
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The bitcoin price has added 10% in just a week, soaring along with the gold price as a Wall Street giant issues a game-changing Federal Reserve prediction.
Now, as traders brace for a 2026 bitcoin price earthquake, U.S. president Donald Trump’s son Eric has said he expects the bitcoin price to go to $1 million as crypto replaces the established financial industry.
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U.S. president Donald Trump has embraced bitcoin and crypto, with Trump’s son Eric predicting the bitcoin price will hit $1 million.
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“There is no doubt in my mind, cryptocurrency is going to replace traditional finance, and it’s happening so fast,” Eric Trump told Fox Business. “Cryptocurrency is literally outpacing the growth of the internet in the 90s, and I’ve never … been able to see something so clearly in my life.”
The Trump family have embraced bitcoin and crypto over the last year, with Trump declaring himself the first crypto president and following through on campaign promises to pass crypto-friendly legislation and create a national U.S. bitcoin strategic reserve.
Meanwhile, the Trump family, led by Eric and Don Jr, have spearheaded the decentralized finance (DeFi) project World Liberty Financial, created in response to the Trump family’s claims of being “debanked” following the 2020 U.S. presidential election, as well as the American Bitcoin mining company.
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The bitcoin price rocketed to an all-time high of $124,000 per bitcoin last month.
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“The floodgates are opening,” Eric Trump said, pointing to Wall Street giants including Fidelity and Charles Schwab that have embraced bitcoin and crypto.
“We are on the one yard line of cryptocurrency and we’ve got another whole field to run as explosive as its been, so I do think that [the bitcoin price] hits $1 million eventually. I’ve never been more bullish on anything in my life.”
Trump’s support of bitcoin and crypto comes as Wall Street opens its doors to the technology, with a raft of bitcoin and crypto exchange-traded funds (ETFs) exploding onto the market in early 2024.
At the same time, the financial establishment is exploring the “tokenization” of assets, expected to open up markets using the blockchain technology that underpins bitcoin and other cryptocurrencies.