{"id":53841,"date":"2025-09-04T06:02:00","date_gmt":"2025-09-04T06:02:00","guid":{"rendered":"https:\/\/emilynews.com\/blog\/?p=53841"},"modified":"2025-09-04T06:02:01","modified_gmt":"2025-09-04T06:02:01","slug":"trump-backed-american-bitcoin-ends-choppy-nasdaq-debut-up-16","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=53841","title":{"rendered":"Trump-backed American Bitcoin ends choppy Nasdaq debut up 16%"},"content":{"rendered":"

The Eric and Donald Trump Jr.-backed American Bitcoin finished trading at a gain on Wednesday after a turbulent first day on the Nasdaq.<\/p>\n

American Bitcoin, a crypto mining company linked to the Trump family, ended its choppy first day on the Nasdaq up over 16%, adding millions to the US first family\u2019s wealth.<\/p>\n

The company, backed by US President Donald Trump\u2019s sons Eric and Donald Trump Jr., went public after merging with the existing Bitcoin mining company Gryphon Digital Mining (GRYP).<\/p>\n

In early trading on Wednesday, American Bitcoin (ABTC) shot up 91% from Gryphon\u2019s Tuesday closing price of $6.90 to a peak of $13.20 before falling by half to an afternoon low of $6.72.<\/p>\n

The Nasdaq\u00a0halted trading\u00a0of American Bitcoin shares five times throughout the day due to volatility, but it ended the day\u2019s session up 16.52% at just over $8 and has climbed over 5% after-hours to $8.45.<\/p>\n

American Bitcoin, formerly Gryphon Digital Mining, saw significant price swings on its debut trading day. Source:\u00a0<\/em>Google Finance<\/em><\/figcaption><\/figure>\n

American Bitcoin is the Trump family\u2019s latest addition to its growing crypto portfolio and joins a trend of public companies that have joined the sector by going public or switching to focus on buying crypto.<\/p>\n

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Crypto investments are risky and highly volatile. Tax may apply. Understand the risks\u00a0here<\/p>\n<\/section>\n<\/div>\n<\/div>\n

Bitcoin \u201cfloodgates\u201d are opening, says Eric Trump<\/h2>\n

Eric Trump, American Bitcoin\u2019s co-founder and strategy chief,\u00a0told\u00a0Bloomberg on Wednesday that his company\u2019s public launch was \u201can unbelievable day and a lot of hard work that\u2019s finally come to fruition.\u201d<\/p>\n

He added that he started the business after owning Bitcoin for several years and seeing \u201chow much it\u2019s being embraced globally.\u201d<\/p>\n

\u201cThe floodgates are just starting to open, so it\u2019s kind of a perfect time,\u201d he added.<\/p>\n

The US\u00a0rose to second place\u00a0on Chainalysis\u2019 crypto adoption index, which was released on Wednesday, with the analytics firm citing President Trump\u2019s crypto-friendly policies as a major driver.<\/p>\n

Eric Trump swatted away concerns that the venture could be seen as profiting from his father\u2019s crypto-friendly policies, saying the criticism was \u201ctotally illegitimate.\u201d<\/p>\n

\u201cI got into this business because I was illegitimately debanked from every financial platform in the country,\u201d he claimed. \u201cMy father has nothing to do with this business.\u201d<\/p>\n

He added that President Trump had \u201calways been a proponent\u201d of cryptocurrency, which \u201cprobably helped get him elected.\u201d Donald Trump previously said cryptocurrencies are \u201cbased on thin air\u201d and that Bitcoin \u201cseems like a scam.\u201d<\/p>\n

American Bitcoin to buy and mine<\/h2>\n

Eric Trump said that the firm would both mine and buy Bitcoin, switching between the strategies to \u201cwhichever is better at the time.\u201d<\/p>\n

\u201cThere\u2019s only a certain amount of Bitcoin that can be mined every day, and we\u2019re going to harness that to the absolute fullest,\u201d he said. \u201cAt the same time, we can be creative. We can go out and we can purchase Bitcoin, hold down the treasury and again allow the mining to dollar cost average down.\u201d<\/p>\n

\u201cWe\u2019re going to be implementing both strategies; whichever is best for shareholder value is obviously what we\u2019re going to prioritize.\u201d<\/p>\n

The company owns 2,443 BTC, the 25th-largest holding among public companies. With Bitcoin trading flat at around $111,850, the stash is worth $273 million.<\/p>\n

Second Trump crypto venture this week<\/h2>\n

American Bitcoin is the Trump family\u2019s second crypto venture to go public this week, after tokens for their crypto project World Liberty Financial were listed on crypto exchanges for the first time on Monday.<\/p>\n

The project unlocked around a quarter of its 100 billion total supply for the World Liberty Financial (WLFI) token, allowing its earliest investors to sell out of the cryptocurrency.<\/p>\n

WLFI has dropped 30% from its debut price and has continued to fall over 7% in the last 24 hours to just over 21 cents, CoinGecko\u00a0shows.<\/p>\n

President Trump and sons Eric, Donald Jr and Baron Trump are all named in the project, and a company tied to them receives most of the revenue it generates. That company also owns nearly a quarter of all WLFI, worth nearly $4.8 billion.<\/p>\n

As for Eric Trump, Bloomberg estimated that his roughly 7.5% stake in American Bitcoin is worth about $548 million.<\/p>\n

He said when asked about his stake that \u201cwe\u2019re incredibly fortunate in life with or without this endeavor.\u201d\u00a0<\/p>\n

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The Eric and Donald Trump Jr.-backed American Bitcoin finished trading at a gain on Wednesday after a turbulent first day on the Nasdaq. American Bitcoin, a crypto mining company linked to the Trump family, ended … Trump-backed American Bitcoin ends choppy Nasdaq debut up 16%<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":53843,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651,6],"tags":[139,3544,3812,5652,10,159,97],"class_list":["post-53841","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","category-information","tag-bitcoin","tag-bitcoin-news","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"\nTrump-backed American Bitcoin ends choppy Nasdaq debut up 16% - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=53841\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump-backed American Bitcoin ends choppy Nasdaq debut up 16% - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"The Eric and Donald Trump Jr.-backed American Bitcoin finished trading at a gain on Wednesday after a turbulent first day on the Nasdaq. 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