Eric Trump's Endorsement Sends Bitcoin Above $98,000: A New Era for Crypto

Bitcoin (BTC) soared past $98,000 during Thursday's Asian trading hours following a bullish endorsement from Eric Trump, son of U.S. President Donald Trump. The significant price movement was triggered by Trump's post on the social media platform X, in which he encouraged the family-backed crypto platform World Liberty Financial to invest in Bitcoin.

"[It] feels like a great time to enter BTC, @worldlibertyfi," Trump wrote at 1:41 UTC. Almost immediately, BTC prices surged from $96,900 to $97,830, with CME micro futures briefly breaching the $98,000 mark, as reported by TradingView.

Market Reactions and Industry Responses

Eric Trump's statement ignited immediate reactions from industry leaders and analysts. Prominent Bitcoin advocate Michael Saylor responded with a cryptic yet optimistic post: "No ₿etter Time." Similarly, Eric Weiss, CEO of the Bitcoin Investment Group, reinforced the sentiment, stating, "It’s always a great time to buy Bitcoin."

However, not all responses were in full agreement. Crypto analyst Byzantine General (@ByzGeneral) humorously remarked, "People hold ETH for one day and become a BTC maxi," referencing Eric Trump's recent endorsement of Ethereum (ETH) just three days prior.

Another industry figure, Joe Consorti, Head of Growth at Theya, commented, "Only took him three days to capitulate," highlighting Trump's swift shift from ETH to BTC.

Trump’s earlier post on February 3, advocating for Ethereum, was followed by a significant ETH price rally from approximately $2,300 to over $2,900 within 24 hours.

However, market analysts noted that Ethereum’s surge was largely part of a broader crypto market rebound triggered by a temporary halt on proposed tariffs by President Donald Trump, rather than Eric Trump’s endorsement alone.

Read Also: Uncovering Trump Coin and the Relationships Within the "Trump Family Meme Tree"

Speculations Around a Strategic Bitcoin Reserve

Eric Trump's newfound enthusiasm for Bitcoin comes at a time when the Trump administration is exploring a federal strategy for digital assets.

Earlier this week, David Sacks, the administration’s AI and crypto czar, confirmed that the White House is actively assessing the feasibility of a Strategic Bitcoin Reserve.

“One of the things that the President instructed us to do was evaluate the idea of a Strategic Bitcoin Reserve,” Sacks revealed in a press conference. “That’s one of the first things we’re going to look at as part of the internal working group: the feasibility of a Bitcoin Reserve.”

While crypto enthusiasts hoped for immediate policy action, Sacks' statement was met with mixed reactions. Some investors were disappointed by the lack of concrete steps, while others viewed it as a potential long-term bullish indicator for Bitcoin.

Eric Trump’s Bold Bitcoin Prediction

Eric Trump is no stranger to making bold predictions about Bitcoin’s future. Speaking at the Bitcoin MENA conference earlier this year, he recalled the moment Bitcoin reached $100,000, stating, "I can tell you a lot of eyes were open when Bitcoin hit $100,000. And I can tell you a hell of a lot more eyes will be open when Bitcoin hits $1 million."

He further emphasized his conviction: "I’m confident it’s going to hit $1 million, I think we are all confident in this room that it will hit $1 million."

What’s Next for Bitcoin?

Market analysts are now closely watching the impact of Eric Trump's endorsement, alongside broader macroeconomic factors. According to a report from Axios in January, President Donald Trump reportedly discussed a $150,000 Bitcoin target at the start of his presidency, viewing it as "another stock market."

Adding to the speculation, Treasury Secretary Scott Bessent addressed concerns regarding the administration’s monetary focus. Instead of pressuring the Federal Reserve to lower interest rates, Bessent emphasized the importance of long-term borrowing costs.

"He and I are focused on the 10-year Treasury," Bessent told Fox Business. "He is not calling for the Fed to lower interest rates."

Lower Treasury yields typically boost borrowing and investment, which in turn encourages risk-taking—an environment that historically benefits Bitcoin and other crypto assets.

Read Also: Trump’s Zero Crypto Tax Proposal: What It Means for the Industry

Conclusion

Eric Trump’s endorsement has once again thrust Bitcoin into the limelight, driving significant price movements and renewed speculation about its long-term trajectory. However, the true impact of his statement remains uncertain.

While some investors see it as a signal of growing institutional support, others view it as just another passing endorsement.

With shifting interest-rate policies, federal crypto reserve speculations, and ongoing market dynamics, Bitcoin remains at the center of financial discourse. Whether or not it reaches the $1 million milestone that Eric Trump envisions, the journey ahead promises to be anything but dull.

FAQ

1. Why did Bitcoin’s price surge past $98,000?
Bitcoin surged past $98,000 following a social media post by Eric Trump, who encouraged the family-backed crypto platform World Liberty Financial to invest in BTC. This endorsement triggered a wave of buying activity, pushing prices higher.

2. What did Eric Trump say about Bitcoin?
Eric Trump posted on X (formerly Twitter), saying, "[It] feels like a great time to enter BTC, @worldlibertyfi," which many interpreted as an endorsement of Bitcoin investment.

3. How did the market react to Eric Trump's statement?
Industry leaders like Michael Saylor and Eric Weiss supported the sentiment, while some analysts, like Byzantine General, humorously pointed out Eric Trump’s quick shift from Ethereum (ETH) to Bitcoin.

4. Did Eric Trump recently endorse Ethereum (ETH) as well?
Yes, just three days before endorsing Bitcoin, Eric Trump had posted in support of Ethereum, which led to a significant ETH price rally from $2,300 to over $2,900.

5. Is the U.S. government planning a Strategic Bitcoin Reserve?
The Trump administration is reportedly exploring the feasibility of a Strategic Bitcoin Reserve. David Sacks, the administration’s AI and crypto czar, confirmed that a working group is assessing the idea.

6. What is Eric Trump’s long-term Bitcoin prediction?
Eric Trump has stated that Bitcoin will eventually reach $1 million, expressing confidence that it will continue to gain mainstream and institutional support.

7. How do broader economic factors influence Bitcoin’s price?
Bitcoin's price is affected by macroeconomic factors like interest rates and Treasury yields. Lower Treasury yields can encourage risk-taking, which often benefits crypto markets.