In a twist that would make even the most jaded observer chuckle, the Trump family has once again dipped their gilded fingers into the digital pie. American Bitcoin, a cryptocurrency mining venture backed by Eric and Donald Trump Jr., made its grand entrance on Nasdaq under the ticker “ABTC.” Truly historic-or so they claim.
This marks the second foray into digital assets in less than a week, following the launch of World Liberty Financial’s WLFI token. One might wonder if the Trumps are building a crypto empire or just trying to corner the market on acronyms.
Bitcoin Shares Leap Like a Frog on Espresso
Eric Trump, co-founder and self-proclaimed “chief strategy officer” of American Bitcoin, heralded the event as a “historic milestone.” He envisions integrating Bitcoin into the heart of U.S. capital markets, presumably while wearing a MAGA hat embroidered with blockchain code. His ambition? For the U.S. to lead the global Bitcoin economy-a noble goal, though one wonders if they’ve considered the environmental impact of all those mining rigs.
The stock began trading at $6.90 per share after an all-stock merger with Gryphon Digital Mining. Within its first hour, ABTC shares skyrocketed 90%, reaching a peak of $14.52 before settling at a more modest 40% increase. Asher Genoot, executive chair of American Bitcoin, assured investors that the company’s mining prowess and Hut 8’s infrastructure will drive growth. Let us hope his optimism is not as fleeting as a meme coin.
A Dynasty of Digital Dollars
The Trump family’s crypto portfolio continues to expand faster than a teenager’s Discord server. Following the WLFI token’s approval and debut on exchanges like Binance, it quickly climbed to become the 35th largest cryptocurrency by market cap, valued at nearly $6 billion. Not bad for something that didn’t exist months ago.
Current estimates suggest the Trumps’ holdings in World Liberty Financial could be worth around $5 billion, making it one of their most prized assets. Naturally, Eric Trump declared crypto “probably the most rewarding venture of my entire life,” which is saying something considering he was born into wealth thicker than molasses.
Meanwhile, Bitcoin itself is trading at $112,159, up a modest 1% in the last 24 hours but still shy of its record high of $124,100. Perhaps the Trumps should also consider launching a token called HUMBLE, because irony is clearly in short supply these days.
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2025-09-04 05:13