The stock of a Bitcoin mining company linked to President Donald Trump's two sons has caused a major sensation on the stock market, with its value doubling on the very first day of trading. American Bitcoin, an audacious venture by Eric Trump and Donald Trump Jr., has not only captured the attention of investors but also solidified the Trump family's position in the digital asset space.
The American Bitcoin Frenzy
Wednesday saw an unprecedented phenomenon on the stock exchange. The shares of American Bitcoin, a young but ambitious company, soared by up to 110% in early trading. Although the stock later pulled back, its value still closed up 14%, boosting the company's market capitalization to an impressive $7.7 billion.
This was the result of a full merger with Gryphon Digital Mining, a company already listed on Nasdaq. At its peak, the combined share value of brothers Eric and Donald Trump Jr. reached $2.6 billion. By the market close, this figure was still a significant $1.5 billion, a testament to their initial success.
Eric Trump, a co-founder and the public face of American Bitcoin, makes no secret of his ambitions. He described the company as an effort to create "the greatest Bitcoin company on Earth," with a clear goal of mining and accumulating the world's leading cryptocurrency.
Ambitions Beyond a Mining Company
At the recent Bitcoin 2025 Asia conference in Hong Kong, Eric Trump made a splash with a confident declaration: "Everyone wants Bitcoin. Everyone is buying Bitcoin. That's why I always say Bitcoin will hit a million dollars. There's no doubt about it." These words not only showed absolute faith in Bitcoin's future but also served as a clever marketing strategy for American Bitcoin.
American Bitcoin's strategy is similar to that of MicroStrategy, a pioneer in the corporate Bitcoin accumulation model. Recently renamed "Strategy," MicroStrategy has proven the power of this model with a market value of up to $110 billion, thanks to its massive Bitcoin holdings worth $71 billion.
American Bitcoin has taken similar steps, launching a controlled stock offering worth $2.1 billion with participation from major investment banks like Cantor Fitzgerald and Mizuho Securities. This capital will be used to acquire more Bitcoin and upgrade its mining technology, indicating a clear and solid roadmap.
The Trump Family's Crypto Empire
The successful launch of American Bitcoin is just one piece of the larger picture of the Trump family's expansion into the crypto space.
Trump Media & Technology Group: In May, this media conglomerate raised $2.5 billion to buy Bitcoin, showcasing its clear preference for digital assets.
Trading Cards and Memecoins: The family has also launched a series of NFT trading cards and two memecoins, capturing the attention of the crypto community.
World Liberty Financial: In August, this group announced plans to spend $1.5 billion to buy its own tokens, solidifying its presence in this space.
This deep involvement has faced criticism, particularly from Democratic lawmakers and ethics experts who have voiced concerns about the intersection of crypto projects and politics. However, despite the criticism, investors flocked to the stock, making American Bitcoin one of the most closely watched launches of the year. The impressive rise of American Bitcoin's stock is a clear testament to the powerful influence of the Trump brand on the market, confirming one thing: whether in politics or finance, the Trump family knows how to create unique and undeniable "frenzies."
