American Bitcoin Accumulates 2,443 BTC, Goes Public via Merger

Eric Trump described Bitcoin as "modern-day gold," highlighting its role as a liquid store of value and a hedge against real estate and other assets. He made these comments during a CNBC appearance related to the launch of American Bitcoin, a mining and treasury firm he co-founded.

Company Holdings and Strategy

American Bitcoin holds 2,443 BTC, valued in the low hundreds of millions of dollars.
The company combines large-scale mining with holding Bitcoin as a strategic reserve.
Trump emphasized institutional treatment of Bitcoin as a store of value and warned firms resistant to blockchain adoption.

Public Listing

American Bitcoin went public via a merger with Gryphon Digital Mining, leading to a Nasdaq debut under the ticker ABTC.
Hut 8 holds a significant ownership stake, with the Trump family retaining a minority share.
The listing highlights trends of miners both producing and holding Bitcoin, and political ties drawing attention to crypto firms.

Market Reaction and Risks

Investors have shown both enthusiasm and caution toward the launch.
Supporters appreciate a US-based miner's transparency and aggressive reserve-building strategy.
Critics raise concerns about governance, potential conflicts from high-profile backers, and risks from Bitcoin price volatility.

Eric Trump's comparison of Bitcoin to gold underscores his belief in its value and aligns with American Bitcoin's strategy. Future investor and institutional responses will determine the sustainability of this view.