Eric Trump, the second-oldest son of former U.S. President Donald Trump, has seen his fortune soar as his stake in American Bitcoin Corp. crossed an estimated value of $600 million. The development highlights how the Trump family continues to expand its influence in the fast-growing digital asset sector.
According to Bloomberg estimates, Eric Trump owns roughly 7.5% of American Bitcoin Corp., a newly formed cryptocurrency company that went public on the Nasdaq exchange this week. Shares surged shortly after listing, briefly more than doubling before stabilizing around $9.73 in New York trading on Wednesday.
From Startup to Billion-Dollar Valuation
American Bitcoin was established less than a year ago, leveraging mining equipment from Hut 8 Corp. in exchange for a controlling stake. The company is also set to merge with Gryphon Digital Mining Inc., which has since rebranded and now trades under the ticker ABTC.
With operations in New York, Alberta, and Texas, the firm’s market capitalization has already exceeded $8.2 billion. In the quarter ending June, the company reported $30.3 million in revenue and $3.4 million in net income.
Eric Trump Responds
In a message to reporters, Eric Trump expressed pride in the company’s progress, stating:
“We have put our heart and soul into American Bitcoin, and today is just the beginning.”
He did not comment directly on the market value of his shares.
Trump Family and the Crypto Boom
The Trump brothers, Eric and Donald Trump Jr., collectively hold around 98% of American Bitcoin’s shares, according to public filings. Their involvement reflects a broader trend of crypto firms enlisting high-profile figures to solidify legitimacy and attract investors.
The Trump family has already become deeply tied to digital assets. During his presidency, Donald Trump supported legislation that bolstered the cryptocurrency industry, eased regulatory pressure on major exchanges, and established a national reserve of virtual assets.
Expanding Fortune
The Trump family’s fortune — estimated at over $6.4 billion — continues to grow through real estate, hospitality, and now digital finance. Remarkably, Eric Trump’s stake in American Bitcoin is reportedly worth more than the combined value of 13 Trump-owned golf and resort properties across the U.S., Ireland, and Scotland.
The rise of American Bitcoin Corp. positions the Trumps at the heart of the crypto revolution, signaling a long-term bet on blockchain technology’s future in global finance.
Eric Trump, the second-oldest son of former U.S. President Donald Trump, has seen his fortune soar as his stake in American Bitcoin Corp. crossed an estimated value of $600 million. The development highlights how the Trump family continues to expand its influence in the fast-growing digital asset sector.
According to Bloomberg estimates, Eric Trump owns roughly 7.5% of American Bitcoin Corp., a newly formed cryptocurrency company that went public on the Nasdaq exchange this week. Shares surged shortly after listing, briefly more than doubling before stabilizing around $9.73 in New York trading on Wednesday.
From Startup to Billion-Dollar Valuation
American Bitcoin was established less than a year ago, leveraging mining equipment from Hut 8 Corp. in exchange for a controlling stake. The company is also set to merge with Gryphon Digital Mining Inc., which has since rebranded and now trades under the ticker ABTC.
With operations in New York, Alberta, and Texas, the firm’s market capitalization has already exceeded $8.2 billion. In the quarter ending June, the company reported $30.3 million in revenue and $3.4 million in net income.
Eric Trump Responds
In a message to reporters, Eric Trump expressed pride in the company’s progress, stating:
“We have put our heart and soul into American Bitcoin, and today is just the beginning.”
He did not comment directly on the market value of his shares.
Trump Family and the Crypto Boom
The Trump brothers, Eric and Donald Trump Jr., collectively hold around 98% of American Bitcoin’s shares, according to public filings. Their involvement reflects a broader trend of crypto firms enlisting high-profile figures to solidify legitimacy and attract investors.
The Trump family has already become deeply tied to digital assets. During his presidency, Donald Trump supported legislation that bolstered the cryptocurrency industry, eased regulatory pressure on major exchanges, and established a national reserve of virtual assets.
Expanding Fortune
The Trump family’s fortune — estimated at over $6.4 billion — continues to grow through real estate, hospitality, and now digital finance. Remarkably, Eric Trump’s stake in American Bitcoin is reportedly worth more than the combined value of 13 Trump-owned golf and resort properties across the U.S., Ireland, and Scotland.
The rise of American Bitcoin Corp. positions the Trumps at the heart of the crypto revolution, signaling a long-term bet on blockchain technology’s future in global finance.
