The U.S. Bitcoin scene just gained a new heavyweight with a familiar name. American Bitcoin (ABTC), a company backed by the Trump family, officially debuted on the Nasdaq and immediately caught the eye of investors. Its stock surged as much as 100% on the first trading day before giving back part of the gains. Even so, the debut was marked as one of the most striking market entries of the year.
Eric Trump: “We Want to Be the Best Bitcoin Company in the World”
Eric Trump, co-founder and chief strategy officer of American Bitcoin, told Bloomberg that the company’s goal is to build the largest and strongest Bitcoin infrastructure on the planet. According to him, the firm has a major edge over competitors:
“We’re mining Bitcoin at roughly 50 cents on the dollar to its market price. And we’re mining a lot of it—thanks to Hut 8’s infrastructure, we have an incredible advantage,” Eric said.
The company combines a strategy of purchasing Bitcoin with its own mining operations, achieving cost averaging. “Bitcoin is an unbelievable store of value, and we’re going to win the race,” he emphasized.
Trump Family Massively Expands Bitcoin Holdings
According to BitcoinTreasuries data, American Bitcoin already held 2,443 BTC by the end of May, though today that number is likely higher. Partner mining firm Hut 8 holds an additional 10,667 BTC worth over $1.2 billion, while Trump Media and Technology Group owns 15,000 BTC worth $1.67 billion.
Eric Trump, whose personal wealth Bloomberg estimates at $600 million from his 7.5% stake in the company, explained that he entered the crypto space during a time when his family was financially “debanked” during his father’s presidential campaign.
“I believe in Bitcoin. I’ve been a long-term holder and I see how adoption is exploding globally. The floodgates are just beginning to open,” he said.
Big Plans and Billion-Dollar Backing
American Bitcoin also announced a $2.1 billion stock offering, led by investment giants Cantor Fitzgerald and Mizuho Securities. The proceeds will be used for further BTC purchases and mining technology expansion.
Eric Trump summed it up clearly:
“From Fortune 500 companies to sovereign wealth funds to U.S. states like Texas—everyone wants Bitcoin. And we’ll be leading this movement.”
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