Oh joy, the Trump family has finally decided to join the st century with their new Bitcoin venture, American Bitcoin, trading on the Nasdaq under the ticker symbol ‘ABTC’ ๐. After completing a stock merger with Gryphon Digital Mining, Eric Trump, the President’s son, proclaimed that he hopes to create “the greatest Bitcoin company on Earth” ๐.
It’s great to be back! @AmericanBTC @worldlibertyfi ๐
– Eric Trump (@EricTrump) September ,
In an interview with Bloomberg, Eric Trump boasted that American Bitcoin has a “great mining business” and an “unbelievable advantage” ๐ช. Apparently, they’re mining Bitcoin at roughly cents on the dollar, which is a steal, if you ask me ๐คฃ.
“We’re mining Bitcoin at roughly cents on the dollar to the actual price of Bitcoin. We’re mining a lot of it and using the Hut infrastructure in order to do so.” ๐ค
Eric Trump, co-founder and chief strategy officer of American Bitcoin, seems to be taking a page from his father’s playbook, promising to “win the race” and become the “absolute best crypto company anywhere on Earth” ๐.
“Everybody all around the world wants the asset, from the largest Fortune companies to the biggest sovereign wealth funds to nation states to US states, [such as] Texas.” ๐ค
When asked about his personal wealth, estimated to be around $ million, Eric Trump gushed about the financial revolution and being debanked while his father was running for president ๐ค.
“I believe in Bitcoin, I’ve been a long-term owner of Bitcoin โฆ and I see its adoption all over the world and how much it is being embraced globally, and the floodgates are just starting to open.” ๐
American Bitcoin held , BTC as of the end of May, but that number is likely to be higher now ๐. Meanwhile, Hut , the mining firm and AMBC partner, is the twelfth-largest corporate Bitcoin holder with , BTC worth around $. billion ๐ธ.
American Bitcoin also announced a $. billion stock offering with investment banks, because who doesn’t love a good cash grab? ๐ธ The proceeds will be used for BTC purchases and mining technology, because that’s exactly what the world needs – more Bitcoin ๐คฃ.
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2025-09-04 08:15