On September 3, 2025, the Trump family’s latest foray into the world of cryptocurrency made headlines as American Bitcoin Corporation, a company co-founded by Eric Trump and Donald Trump Jr., made its highly anticipated debut on the Nasdaq. Trading under the ticker symbol 'ABTC' after merging with Gryphon Digital Mining, the company’s first day on the public market was anything but dull—marked by soaring prices, wild volatility, and a flurry of speculation about both its future and the Trump family’s expanding role in the crypto industry.
According to Bloomberg and several other outlets, American Bitcoin’s shares surged as much as 102% to an intraday high of $14.52 before retreating and finally settling at $8.04 at market close. This rollercoaster ride prompted Nasdaq officials to halt trading five times throughout the session, underscoring the intense interest and speculation surrounding crypto-related equities—especially those with the Trump name attached. By the end of the day, the company’s market capitalization exceeded $7 billion, a staggering figure for a firm that only recently completed its merger with Gryphon Digital Mining.
Eric Trump, who serves as co-founder and chief strategy officer, was quick to celebrate the milestone. In an interview with Bloomberg, he declared, “We have massive aspirations to be the absolute best crypto company anywhere on Earth.” He went on to explain the company’s unique approach, emphasizing its dual strategy of both mining Bitcoin and holding it as a treasury asset. “We’re mining Bitcoin at roughly 50 cents on the dollar to the actual price of Bitcoin. We’re mining a lot of it and using the Hut 8 infrastructure in order to do so.”
In fact, American Bitcoin held 2,443 BTC as of the end of May 2025, according to BitcoinTreasuries, a sum worth approximately $273 million at current prices. The company’s partner, Hut 8, is no small player either, holding 10,667 BTC valued at around $1.2 billion. Meanwhile, Trump Media and Technology Group Corp boasts 15,000 BTC, worth an estimated $1.67 billion. These numbers highlight just how aggressively the Trump family has moved into the digital asset space.
The company’s dual strategy sets it apart from traditional mining firms. As Eric Trump put it, “There’s only a certain amount of Bitcoin that can be mined every day, and we’re going to make the most of that. We may also be creative at the same time. We can go out and buy Bitcoin.” This hybrid model, combining self-mining operations with opportunistic purchases of Bitcoin, is designed to maximize flexibility and returns in a notoriously volatile market.
American Bitcoin’s ambitions don’t stop at mining and accumulating Bitcoin. On September 3, the company announced a $2.1 billion stock offering in partnership with investment banks including Cantor Fitzgerald and Mizuho Securities. The proceeds, according to company statements, will be used to further expand its Bitcoin holdings and invest in cutting-edge mining technology. Such a massive capital raise speaks to both the scale of American Bitcoin’s aspirations and the confidence investors have in the Trump family’s ability to capitalize on the ongoing crypto revolution.
Eric Trump’s personal stake in the company—7.5%—was valued at roughly $548 million at the close of trading, though it had soared to as much as $2.6 billion during the day’s peak. Together, Eric and Donald Trump Jr. control nearly 20% of the company, a holding worth $1.5 billion by the end of the first trading day. When asked about his newfound wealth, Eric Trump responded, “We’re very lucky in life, with or without this project.” Still, there’s no denying that American Bitcoin’s debut has significantly boosted the family’s financial fortunes.
This isn’t the only crypto project in the Trump family’s portfolio making waves. Earlier in the same week, the launch of WLFI—the token linked to the family’s DeFi project World Liberty Financial—added another $5 billion to the Trump family’s overall wealth, according to Unchained and other sources. The rapid expansion into digital finance underscores the family’s commitment to staking out a leading position in the sector.
Of course, with great visibility comes great scrutiny. The Trump family’s deepening involvement in cryptocurrency has drawn criticism from ethics watchdogs and political opponents, who argue that there may be conflicts of interest given Donald Trump’s ongoing role as President. Some have suggested that the family could benefit from favorable policy decisions. Eric Trump, however, has been adamant in dismissing these concerns. As reported by multiple outlets, he insists that his father “has absolutely nothing to do with this venture” and is “only interested in running a nation.” He called the conflict-of-interest accusations “crazy,” seeking to draw a clear line between the family’s business operations and the former president’s political activities.
Despite the controversy, Eric Trump has emerged as a vocal advocate for cryptocurrency, spending significant time traveling to promote the company internationally. “Crypto had a very bad voice for a long time,” he said. “I think I’ve become one of the best crypto spokespeople in the last 12 to 18 months.” His efforts are being noticed, with American Bitcoin now counted among the world’s largest corporate holders of Bitcoin.
The timing of American Bitcoin’s debut couldn’t be more auspicious. The United States was recently ranked second in Chainalysis’ crypto adoption index, and analysts have pointed to President Trump’s pro-crypto policies as a major factor in the country’s surging interest in digital assets. For the Trump family, the intersection of business and politics is nothing new—but in the high-stakes world of cryptocurrency, the risks and rewards are magnified.
As the dust settles after American Bitcoin’s turbulent first day of trading, one thing is clear: the Trump family is betting big on the future of digital currency, and they have no intention of slowing down. Whether their ambitions to build “the greatest Bitcoin company on Earth” will be realized remains to be seen, but their presence is sure to keep the crypto world buzzing for the foreseeable future.
With record-breaking market moves, bold public statements, and a strategy that combines mining muscle with financial firepower, American Bitcoin has cemented its place at the heart of the ongoing cryptocurrency story—one that’s as unpredictable as it is compelling.
