Eric Trump's Wealth ($548 million) Soars with Significant Crypto Stake
Eric Trump's financial standing has significantly increased, with his stake in $BTC American Bitcoin Corp. now valued at approximately $548 million. This surge in wealth is a notable development for the Trump family, highlighting their involvement in the digital asset industry.
American Bitcoin Corp., which began trading on the Nasdaq exchange on Wednesday, saw its shares close at $8.04 in New York, after more than doubling earlier in the trading session. The company's strategy involves accumulating Bitcoin using mining machinery provided by another crypto firm, Hut 8 Corp., located in New York, Alberta, and Texas.
Binance emphasizes the importance of thorough research and caution when considering investments related to celebrities or public figures, especially given the volatility often associated with new projects.
Key Details:
Eric Trump holds about 7.5% of American Bitcoin Corp..
The company's shares peaked at $14.52 on its debut day.
The Trump family's cryptocurrency holdings are reportedly now believed to be worth more than their traditional real estate wealth.
Eric Trump was appointed to a strategic board of advisors for Metaplanet, a major Bitcoin holder, earlier this year.