The second son of United States President Donald Trump called China “a hell of a power” in developing cryptocurrencies despite its ban on crypto trading.
It hit a record high of 124,480 dollars in mid-August amid friendlier regulations from the Trump administration and strong institutional investor demand.
“There’s no question bitcoin hits $1 million,“ Eric Trump said during a panel discussion at the Bitcoin Asia conference.
Mainland China bans crypto trading but is considering yuan-backed stablecoins to boost its usage globally.
Asked whether his father and Chinese President Xi Jinping would discuss cryptocurrencies soon, Eric Trump said both countries probably understood digital currency “better than anybody else in the world”.
“And I hope that’s paid off in spades because we love this community. We believe in this community,“ he said.
A bitcoin miner backed by Eric Trump and his brother Donald Trump Jr. is preparing for a Nasdaq listing next month.
Binance founder Changpeng Zhao told a separate panel that the United States was “setting the case” for forward-leaning regulations making other governments take action. – Reuters
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