Eric Trump and Donald Trump Jr. used a CNBC interview this week to renew their public support for Bitcoin, calling it the defining asset class of a new generation and predicting future price increases.
Speaking during a wide-ranging discussion about stablecoins and the wider adoption of cryptocurrency during the World Liberty Forum, Eric Trump said he remains a “big supporter of Bitcoin” and said the asset could eventually reach $1 million.
He pointed to Bitcoin’s long-term performance, noting its recovery from a near-$16,000 decline two years ago and saying it has delivered strong average annual gains over the past decade.
Trump framed volatility as an inherent feature of emerging assets with significant upside, comparing BTC to traditional low-yielding investments such as municipal bonds or US Treasuries.
“I’ve never been more bullish on bitcoin in my life,” Trump said.
Trump’s sons also highlighted what they see as accelerating admissions to institutions. Eric Trump cited major financial firms including Fidelity, Charles Schwab, JPMorgan, BlackRock, and Goldman Sachs as examples of Wall Street’s growing involvement with digital assets.
He said private wealth clients are being given a higher percentage of crypto exposure than in previous years, positioning Bitcoin as an investment theme for the under-50s.
The CEO of Goldman Sachs owns bitcoin
These comments came as traditional financial leaders signaled a cautious shift in tone. Goldman Sachs CEO David Solomon revealed that he now owns a small amount of BTC, speaking at the Global Freedom Conference held at Mar-a-Lago in Florida.
Solomon described his holdings as “very limited” and said he’s not a “big Bitcoin forecaster,” pretending to be more of an observer than an advocate.
His remarks reflect the growing rapprochement between established financial institutions and the crypto sector after years of regulatory hurdles that kept firms like Goldman largely on the sidelines.
Solomon has expressed doubts about the useful role of BTC. In a 2024 CNBC interview, he characterized the asset as speculative and questioned its real-world use, while acknowledging its volatility and investor interest.
Coinbase Chief Executive Officer Brian Armstrong also addressed the recent Bitcoin price weakness during his appearance on the forum. Armstrong said the recent decline appears to be driven more by market psychology than fundamentals.
He dismissed speculation that larger political factors were behind this and said volatility remains part of the normal crypto cycle.
Armstrong emphasized that BTC remains one of the best-performing assets of the past decade and said that Coinbase does not take a short-term view of price changes.
Armstrong also pointed to the policy environment in Washington, suggesting that crypto legislation could advance under President Donald Trump’s administration.
He described the potential “win-win” outcome for industry, banks, and consumers if regulatory clarity is achieved, adding that the proposed measures could reach Trump’s desk within months.
Yesterday, Armstrong said the company expects the market structure bill to be passed and said legal clarification would provide long-term certainty without changing leadership at agencies like the SEC.
If the law ends, he said Coinbase will continue to operate under existing laws while seeking clarification from regulators or the courts.
“I think the bill will pass,” Armstrong said. “It’s in everybody’s interest right now.”
BTC is trading at $66,800 today, with $33 billion in 24-hour volume. The stock is down 1% over the past day as price action remains firmly within its weekly range.
BTC is sitting about 2% below its 7-day high of $68,328 and basically flat from its 7-day low of $66,834, signaling an ongoing consolidation rather than a definitive breakout.
The circulating supply of Bitcoin stands at 19,991,396 BTC, against the fixed amount of 21 million. Total market capitalization now stands at $1.34 trillion, down 1% from the previous day.
