Eric Trump Doubles Down On $1M Bitcoin Forecast, Calls Banking A ‘Ponzi Scheme’

The World Liberty Forum held this week at Mar‑a‑Lago featured remarks from President Donald Trump’s sons, Eric Trump and Donald Trump Jr., who used the event to reaffirm their strong support for Bitcoin (BTC) and repeat their long‑standing $1 million price projection for the cryptocurrency.

Speaking on Wednesday, Eric Trump described himself as “a huge proponent of Bitcoin” and said he has never felt more optimistic about the asset’s future. “I’ve never been more bullish on bitcoin in my life,” he said, arguing that the digital currency has the potential to eventually reach $1 million per coin.

However, amid falling Bitcoin prices, Eric acknowledged the asset’s volatility and characterized price swings as typical for an emerging technology with significant growth potential.

In his view, Bitcoin’s upside contrasts sharply with traditional fixed‑income investments such as municipal bonds or US Treasuries (T-Bills), which generally offer lower yields.

At the same time, Donald Trump Jr. offered sharp criticism of the traditional banking system, calling it a “Ponzi scheme” and arguing that the family’s move into crypto was not driven by trend‑chasing but by necessity. 

During an interview with CNBC at the forum, Donald Trump Jr. said his family turned to digital assets after banks closed “hundreds of accounts” belonging to the Trump Organization in early 2021.

“You know, we didn’t get into crypto because we were on the leading edge,” Trump Jr. said. “We got into it out of necessity. They basically forced us into it.” 

The brothers attributed the account closures to the political fallout following the January 6, 2021, riot at the US Capitol, when supporters of their father stormed the building while contesting the 2020 presidential election results. 

They also claimed that banks had “debanked” other smaller clients over their conservative political views. Eric Trump said their crypto initiative, World Liberty Financial, is part of a broader effort to reshape the financial system. 

“We’re trying to modernize finance,” he said, adding that the family felt ostracized by mainstream institutions during that period. “We’re the most canceled people in the world in 2020, 2021,” he said.

As of this writing, Bitcoin is still consolidating at approximately $66,258. This represents a 50% difference from the current trading prices and the all-time high of $126,000, which was reached last October. 

Featured image from OpenArt, chart from TradingView.com