Eric Trump sees $1 million bitcoin on US holding 300,000 coins

At the Bitcoin 2026 conference in Las Vegas, Eric Trump said the U.S. government’s decision to hold its 300,000 bitcoin is a signal of the asset’s arrival as a strategic reserve, adding he has “absolute conviction” the price will hit $1 million.

"The U.S. government now holds approximately 300,000 bitcoin and will not sell," Trump, co-founder of American Bitcoin, said on a panel. "We are compressing bitcoin. There is a limited supply."

The argument for a structural supply squeeze was echoed by Calamos Investments CEO John Koudounis, who noted the $60 billion that has entered spot bitcoin ETFs is a fraction of the $124 trillion in wealth set to transfer to younger, digitally-native generations. He said the institutional question has shifted from “‘Are you buying bitcoin?’ to ‘What percent are you allocating?’”

For Koudounis, the shift is decisive. “Once institutions get involved, it’s game over,” he said, framing the current market as the start of a new era. The comments, made as of 18:00 UTC, come as bitcoin trades around $95,000, down 2% in 24 hours amid a stronger dollar (DXY).

Supply Compression Meets Generational Wealth

Trump’s core thesis is that the natural sellers of bitcoin are leaving the market, replaced by permanent or semi-permanent holders. He named corporate treasury buyers like Strategy and Metaplanet and financial platforms like Charles Schwab and Morgan Stanley as evidence of this "sticky" demand. His own company, American Bitcoin, is holding every coin it mines.

Koudounis put this in the context of a massive capital shift, citing research that projects $124 trillion will move across generations by 2048. Set against this backdrop, the $60 billion in spot ETF flows to date represents just the beginning of a major allocation to digital assets.

The Debanking Catalyst

The panel also explored the non-financial case for bitcoin, rooted in censorship resistance. Trump recounted his family’s experience of being “debanked” by major financial institutions following the January 6, 2021 Capitol riot. "They threw us away like dogs," he said, an experience that pushed him toward bitcoin’s censorship-resistant architecture.

Koudounis universalized the argument, referencing the 2015 Greek debt crisis where the government imposed capital controls and daily withdrawal limits. “You don’t have to be the Trumps to be targeted by banks,” Koudounis said. “This can happen to anybody.”

Trump argued that with fixed income yielding 4%, the choice for long-term investors is clear. “I’ll invest in bitcoin. I’ll ride out the volatility and we’ll see who wins that equation in a 10-year period of time,” he said, citing bitcoin's average annual growth of roughly 70% over the past decade.

This article is for informational purposes only and does not constitute investment advice.