Eric Trump, one of the final acts in Hong Kong’s biggest gathering of cryptocurrency enthusiasts, praised the city and China during his fireside chat with the organiser of the Bitcoin Asia conference.
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“There is no question that you have made an unbelievable mark on cryptocurrencies,” said the second son of the US President Donald Trump in his chat with Bitcoin Asia’s CEO David Bailey. “There is no question that China is a hell of a power when it comes to this.”
The younger Trump, who was in Hong Kong to promote his American Bitcoin cryptocurrency with Hut 8, delivered one of the highlights during the two-day event, which has attracted more than 17,000 tickets, more than triple last year’s attendance. He predicted the value of bitcoin would soar to US$1 million, from the current US$110,000.
“Hong Kong, we absolutely love you, thank you for this incredible reception,” Trump said. “The hospitality you showed me to come into town has been unbelievable.”
The event underscores Hong Kong’s rising role in the world of virtual assets and cryptocurrency, after the city’s landmark stablecoins ordinance and regulatory framework took effect on August 1. The embrace of stablecoins contrasts with mainland China, where mining and transactions of cryptocurrencies have been banned since 2013.
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“Hong Kong has been positioned by Beijing to be the place where they can experiment with their bitcoin policy in their digital asset policy,” Bailey said. “So they’ve identified this as the meeting point for the world to discuss this topic as it relates to China.”