TLDR
- American Bitcoin (ABTC) closed up 16.52% at $8 after wild swings from $6.72 to $13.20 on first trading day
- Nasdaq halted trading five times due to extreme volatility following merger with Gryphon Digital Mining
- Company holds 2,443 Bitcoin worth $273 million, ranking 25th among public companies
- Eric Trump plans mixed strategy of Bitcoin mining and direct purchases based on market conditions
- Second Trump family crypto project this week after World Liberty Financial token launch
American Bitcoin made its public trading debut Wednesday with extreme price volatility that forced Nasdaq officials to halt trading five times. The Bitcoin mining company, co-founded by Eric and Donald Trump Jr., closed up 16.52% at $8.04 per share.
The stock opened under ticker ABTC following a merger with Gryphon Digital Mining. Early trading saw shares rocket 91% to $13.20 before crashing to $6.72 by afternoon.
Trading halts occurred at multiple points throughout the day as automatic circuit breakers kicked in. The exchange implemented these pauses to prevent excessive price movements and give investors time to process information.
Company Holdings and Strategy
American Bitcoin currently owns 2,443 Bitcoin tokens worth approximately $273 million at current prices. This holding makes the company the 25th-largest Bitcoin holder among publicly traded firms.
Eric Trump outlined a flexible approach for building the company’s Bitcoin reserves. The firm will switch between mining operations and direct Bitcoin purchases depending on market conditions.
“We can be creative. We can go out and we can purchase Bitcoin, hold down the treasury and again allow the mining to dollar cost average down,” Trump told Bloomberg.
The company aims to maximize daily Bitcoin mining while maintaining the option to buy tokens directly. Trump emphasized that shareholder value will determine which strategy the company pursues at any given time.
Second Trump Crypto Launch This Week
This public listing represents the Trump family’s second cryptocurrency venture to reach markets this week. World Liberty Financial tokens began trading Monday after unlocking 25% of total token supply.
The WLFI token has dropped 30% from its initial price and fell over 7% in the past 24 hours to around 21 cents. The Trump family maintains ownership of nearly 25% of all WLFI tokens through a related entity.
Eric Trump addressed concerns about profiting from his father’s pro-crypto policies, calling such criticism “totally illegitimate.” He stated that President Trump has no direct involvement in the business operations.
Bloomberg estimates Eric Trump’s stake in American Bitcoin at roughly 7.5%, valued at approximately $548 million based on current market pricing.
The company used a merger structure rather than a traditional initial public offering to reach public markets. This approach has become popular among crypto companies seeking faster pathways to Wall Street.
American Bitcoin’s public debut comes as institutional interest in cryptocurrency mining continues growing. The company’s volatile first day reflects broader market excitement around crypto-related stocks and Trump family business ventures.
