Despite Bitcoin (CRYPTO: BTC) pulling back around 28% over the past month, Eric Trump says he remains highly optimistic on the crypto king.
‘No Asset Class Has Performed Better’
Eric Trump told CNBC on Wednesday he is “extremely bullish” on Bitcoin and the broader crypto market. He continues to stand on his $1 million price target.
Bitcoin is down about 28% over the past month.
Still, Trump pointed to its long-term performance, noting it climbed from roughly $16,000 two years ago to about $70,000. He said the asset has delivered average annual returns near 70% over the past decade, adding that no other asset class has matched that performance.
While acknowledging volatility, Trump argued that “high volatility comes with high upside potential.” He added, “I’ve never been more bullish on cryptocurrency in my life.”
“Greatest Hedge Against Hard Assets”
In a 2025 interview, Trump called Bitcoin “the greatest hedge against hard assets.” He said his company is actively mining Bitcoin because it believes the asset will be transformational.
Trump also said American Bitcoin’s treasury recently surpassed 6,000 BTC within six months of going public. He noted that milestone places its holdings ahead of companies such as GameStop and Gemini.
Despite recent price weakness, Trump maintains that Bitcoin’s long-term trajectory remains intact and that a $1 million target is still in play.
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