Bitcoin Price Prediction: Eric Trump Targets 1 Million USD as Amdax Aims for 1% Supply

Bitcoin is currently at $108,410, falling 3.1% in the past 24 hours, as traders weigh new macroeconomic developments against long term predictions. Speaking at the Asia Bitcoin Conference in Hong Kong, Eric Trump stated that Bitcoin will reach $1 million, citing two main reasons: the fixed supply of 21 million and the increasing demand from institutions.

He also mentioned China's increasing role in the digital asset space, despite the mainland's retail ban on these assets. He pointed out the development of stablecoins backed by the Renminbi, while Hong Kong has passed a stablecoin bill to strengthen its position as a global cryptocurrency hub. And another mining project related to Trump is set to list on Nasdaq, so he stated that his family "fully trusts" this community. Amdax Strives to Ensure 1% of Bitcoin Supply The accumulation activity of institutions is also accelerating in Europe. Dutch cryptocurrency company Amdax has raised $23.3 million to launch a new treasury tool, AMBTS, with the ultimate goal of acquiring 210,000 BTC - nearly 1% of the total Bitcoin supply. At the current price, that target is equivalent to over $23 billion worth of Bitcoin being held.

The company plans to expand through additional funding rounds and a potential IPO on the Euronext exchange in Amsterdam. This is similar to the pioneering strategy of Michael Saylor's previous MicroStrategy, which turned corporate bonds into one of the biggest drivers of Bitcoin demand. Other global companies, including Tesla, MercadoLibre, Rumble, Sequans, and Metaplanet, have also expanded their Bitcoin purchasing activities. More players are entering the market, supply on exchanges is becoming scarcer, and prices are rising. Strategy for Dismissing the Case, Strengthening Position Strategy, the largest holder of Bitcoin, has won the lawsuit. A lawsuit accusing the company of misrepresenting facts to investors regarding the new fair value accounting rules was dismissed with prejudice, eliminating a significant debt.

Now, the company can fully focus on expanding its Bitcoin reserves worth $68 billion, which account for over 3% of the circulating supply. Analysts see this as a significant confidence booster for the company and the entire market, as it removes a layer of legal uncertainty that has weighed on market sentiment this year. Bitcoin Price Prediction – Technical Outlook Technically, Bitcoin has been in a long term downtrend since mid-August, with a support level at $108,400 and a resistance level at $111,000. The RSI indicator is around 30, nearing the oversold area, while the MACD chart remains negative, confirming that the bears are still in control.

Breaking through the threshold of 111,000 dollars could reverse the upward trend, paving the way for levels of 113,650 dollars and 116,850 dollars, with the next target being 120,250 dollars. On the other hand, if the threshold of 107,800 dollars is not maintained, the price risks falling deeper, potentially reaching levels of 105,150 dollars and 101,500 dollars at the bottom of the channel. For traders, the scenario is quite simple: a rise above $111,000 and a fall below $107,800. The long-term demand from institutions and corporate treasury bonds will keep Bitcoin as digital gold, so the $130,000 level will be in sight after this consolidation process ends.