Bitcoin (BTC) is trading around $63,396 on July 13, 2026. It is still nearly 50% below its all-time high of $126,198. While short-term price action remains choppy, Eric Trump says institutional adoption is accelerating faster than ever. He believes Bitcoin still has a long way to go.
Eric Trump Sticks to $1 Million Bitcoin Call
Speaking in a recent interview, Eric Trump said Bitcoin is entering a new phase of adoption. This is as traditional financial institutions continue embracing crypto.
“The floodgates are opening,” Trump said, pointing to major firms like Charles Schwab, Fidelity, and JPMorgan Chase expanding Bitcoin services. He shared that when he recently logged into his Fidelity account, he was prompted to create a digital asset wallet. Therefore, it is now easier than ever for customers to buy Bitcoin.
According to Trump, the biggest change is accessibility. Investors no longer need to rely on complicated wallets or self-custody. Now Bitcoin is available through spot ETFs and large financial institutions.
“We are on the one-yard line of cryptocurrency, and we’ve got another whole field to run,” he said.
Trump also doubled down on his long-term prediction, saying, “I do think it hits a million dollars eventually. I’ve never been more bullish on anything in my life.” He added that stronger crypto legislation in the U.S. has only increased his confidence.
Perhaps his boldest claim came when discussing institutional demand. “I talk to the biggest companies, the biggest families in the world, and every single one of them is racing to buy Bitcoin,” Trump said.
American Bitcoin Stock Struggles Despite Bigger BTC Holdings
Interestingly, Trump’s bullish comments come even as American Bitcoin, the mining company he co-founded, continues to face pressure in the stock market.
According to Bloomberg, the company’s shares have dropped more than 95% from their peak, wiping out over $600 million from the value of Eric Trump’s roughly 6% stake over the past 10 months. The company recently carried out a 1-for-15 reverse stock split to maintain its Nasdaq listing. Still, it hit a record low last week.
Despite the weak stock performance, American Bitcoin continues to build its Bitcoin treasury. The company purchased 500 BTC this week, taking its total holdings to more than 8,000 BTC. However, its first-quarter results showed an operating loss of $118.2 million, including a $117.2 million Bitcoin impairment charge.
U.S. Strategic Bitcoin Reserve Adds Long-Term Confidence
Supporting the long-term bullish narrative, the U.S. government now holds around 328,372 BTC, worth roughly $20-$25 billion. These assets are primarily acquired through criminal asset seizures. The holdings are managed as part of the Strategic Bitcoin Reserve (SBR), established under a White House Executive Order.
While Bitcoin remains well below its record high, growing institutional participation, improving regulation, and continued accumulation by both private investors and governments are keeping long-term expectations firmly intact.
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