2026-5-8 07:30 |
Bitcoin could cross the $1 million mark. That was one of the boldest claims Eric Trump made Wednesday at Consensus Miami 2026, where the businessman and son of US President Donald Trump laid out his case for why the United States is pulling ahead in the global race for crypto leadership.
Banks No Longer Sitting On The SidelinesThe shift among major financial institutions was a central thread in Trump’s remarks. Large banks — once openly skeptical of digital assets — are now offering Bitcoin custody services and allowing customers to use their crypto holdings as loan collateral.
Private wealth managers are recommending Bitcoin to clients, and retirement accounts like 401(k)s are beginning to open up to crypto investments.
Trump pointed to spot Bitcoin exchange-traded funds as a turning point. Since the first one launched in January 2024, these products have pulled in significant volumes of institutional money, bringing a new class of investors into the market who previously had no easy way to gain exposure.
“As America has gotten clarity, every country around the world has noticed, and every country around the world is starting to follow,” he said. AI Enters The PictureTrump also connected the rise of artificial intelligence to the future demand for digital currencies. His argument: AI systems will eventually need to move money on their own, and physical cash or gold simply won’t fit that model.
Digital currencies, in his view, are the only option that makes sense in a world where payments are increasingly automated and machine-driven.
He did not name specific AI platforms or payment systems, but framed the relationship between AI and crypto as something close to inevitable — a pairing that would grow more apparent as both technologies matured.
A Race America Intends To WinOn the question of global competition, Trump was direct. He said Asia would not lead this space, and that the US was fully committed to coming out on top. “We’re hell-bent on winning that race,” he said.
He credited recent regulatory progress in the US for giving the industry direction and drawing the attention of other nations.
As rules become clearer, he argued, more businesses and investors gain the confidence to move forward — and the momentum only builds from there.
Featured image from Unsplash, chart from TradingView
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