American Bitcoin, a crypto mining company linked to the Trump family, made a dramatic debut on the Nasdaq, ending its first day with a 16.52% rise. The company, backed by the U.S. President Donald Trump’s sons Eric and Donald Jr., went public after merging with Gryphon Digital Mining (GRYP).
Trading began with a surge, as American Bitcoin’s shares jumped 91% from Gryphon’s previous close of $6.90 to $13.20. Shares later fell to $6.72 before closing at just over $8. After-hours trading saw the stock climb to $8.45.
The Nasdaq halted trading five times during the day due to volatility, reflecting the increased investor interest.
Trump Family Expands Crypto Portfolio
Eric Trump, Co-Founder and Strategy Chief of American Bitcoin, said the launch marked “an unbelievable day” after years of hard work. He explained that the company plans to both mine and buy Bitcoin, choosing the strategy that benefits shareholders the most.
The company is the 25th-largest publicly traded company to own BTC, currently holding 2,443. This stash is worth $273 million with Bitcoin trading at approximately $110,811.
Second Crypto Venture in a Week
This marks the Trump family’s second crypto venture this week. Their World Liberty Financial (WLFI) tokens debuted on crypto exchanges on Monday. The project unlocked about a quarter of its 100 billion tokens.
Early investors could sell, though WLFI has dropped roughly 36% since launch. The Trump family and a tied company hold significant portions of the token, generating millions in revenue.
Eric Trump’s stake in American Bitcoin alone is estimated at $548 million. He emphasized that the family feels “incredibly fortunate in life with or without this endeavor.”
With American Bitcoin’s successful Nasdaq debut and the family’s growing crypto ventures, the Trump family is emerging as a notable player in the U.S. crypto landscape.
Also Read: Eric Trump Hails American Bitcoin’s Landmark Nasdaq Debut
