The world of Bitcoin just got a little more… “interesting.” American Bitcoin, that mining and treasury beast co-founded by none other than Eric Trump and Donald Trump Jr., has just added over 1,400 shiny new Bitcoin to its vault. Well, well, well. Isn’t that a sight for sore eyes?
In a truly stunning Monday announcement (because who doesn’t love a good Monday surprise?), American Bitcoin went on a buying spree, snagging 1,414 BTC for a casual $163 million. That brings their grand total to 3,865 BTC-hovering just under a cool $445 million. Oh, to be a part of that family business.
Eric Trump, in his ever-so-strategic role as Chief Strategy Officer, shared the company’s laser-focused goal: increasing its Bitcoin-per-share ratio. Why? Because that, apparently, is the key to shareholder value. “We believe one of the most important measures of success for a Bitcoin accumulation platform is how much Bitcoin backs each share,” he said, probably while sipping a well-earned coffee. 👏
The company came into the spotlight this past March when Hut 8, a mining firm with a taste for drama, bought a majority stake. In exchange? They gave up their Bitcoin mining hardware. Talk about a “hardware for treasure” trade. 💎
American Bitcoin’s Rocket Ship Ride
Just when you thought the story couldn’t get any juicier, here comes the Nasdaq drama. In early September, American Bitcoin made its debut, and let’s just say it was a wild ride. The company closed its chaotic first day with a sweet 16% uptick. Of course, things weren’t without a bit of volatility, with the stock being halted FIVE times. 💥 It was like a rollercoaster, except without the fun part.
But hold on, the real kicker? The stock price surged by a whopping 85% intraday. Yeah, I’ll let that sink in. 📈
In case you missed it, there was also a merger with Gryphon Digital Mining, a Las Vegas-based Bitcoin miner. A stock-for-stock deal that got Gryphon’s stock to jump 230%. Who knew mining could be so… exciting?
Politics, Scrutiny, and That Trump Touch
And here comes the part that will make you raise an eyebrow-because everything with the Trump family seems to come with a side of controversy. President Trump has been dipping his toes into the world of digital assets like a kid in a candy store. This has, of course, led to some serious scrutiny from lawmakers. 🧐
Maxine Waters, the U.S. Representative, had plenty to say about Trump’s pardoning of Binance’s founder Changpeng “CZ” Zhao (yes, the same guy who pled guilty to violating U.S. Anti-Money Laundering laws). She called it “an appalling but unsurprising reflection of his presidency.” And she wasn’t done. She claimed he’s “doing massive favors for crypto criminals.” Ouch. 😬
And if you’re wondering just how all of this is affecting Trump’s personal wealth, well, let’s just say it’s “growing”-a lot. Eric Trump recently mentioned that their family’s profits from digital assets were “probably more” than the reported $1 billion. Talk about taking “going digital” to a whole new level. 💰
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2025-10-27 17:08