American Bitcoin Closes First Day on Nasdaq Up 16.75%

American Bitcoin, linked to Donald Trump's sons, debuted on Nasdaq with significant volatility. The stock closed up 16.75% at over $8, and after-hours trading increased it by an additional 6% to $8.50.

Key Trading Highlights

Opened at a peak of $13.21, marking a 90% increase from Gryphon Digital Mining's previous close of $6.90.
Fell to $6.70 during the session before recovering.
Trading was halted five times due to extreme volatility.
Eric Trump's 7.5% stake is valued at approximately $548 million.

Company Strategy

American Bitcoin will mine Bitcoin and also purchase it based on market conditions.
Currently holds 2,443 BTC, worth about $275 million at a trading price of over $112,000.
Aims to maximize shareholder value through mining and market purchases.

Eric Trump stated, “We’re going to harness daily mining to the fullest, but we can also go out and purchase Bitcoin to support the treasury.”

Political Context

The launch raises questions regarding potential benefits from President Trump's crypto-friendly policies.
Eric Trump denied any direct profit from political ties, asserting his father has no involvement in the business.
The debut follows another Trump-associated venture, World Liberty Financial (WLFI), which has struggled post-launch.
WLFI has dropped 30% since its listing, with Trump's family holding nearly 25% of tokens valued around $4.6 billion.

Uncertainty remains regarding American Bitcoin's ability to sustain momentum following its volatile debut. Eric Trump described the launch as “an unbelievable day” and suggested further opportunities ahead.