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American Bitcoin, a new cryptocurrency mining company backed by Eric Trump and Donald Trump Jr., ended its first day of public trading with a surprising gain despite sharp volatility. The stock, listed on Nasdaq under the ticker ABTC, finished the session more than 16% higher, cementing its debut as one of the most-watched entries into the crypto and equity markets this year.
The company, formerly known as Gryphon Digital Mining, underwent a merger before its public debut. As it hit the market, traders immediately pushed the share price up by more than 90% in early trading, only for it to give back most of those gains later in the day. Nasdaq halted trading five times due to the wild swings. Ultimately, American Bitcoin closed just over $8 per share, up 16.5% from Gryphon’s prior close of $6.90. After-hours trading pushed the price slightly higher to around $8.45.
This volatile first session highlights the high-stakes environment where politics, cryptocurrency, and public markets intersect. For the Trump family, it also signals a growing presence in the digital asset space, coming just days after another crypto venture tied to them—World Liberty Financial (WLFI)—began trading on exchanges.
A Rollercoaster Opening Day
American Bitcoin’s debut was anything but calm. The stock surged to a peak of $13.20 in the morning, representing a 91% jump, before sliding back to an afternoon low of $6.72. Such extreme movements triggered multiple circuit-breaker halts, reflecting both heavy retail speculation and investor uncertainty about the company’s valuation.
Despite these swings, the company ended its first day solidly in the green, a fact that Eric Trump—American Bitcoin’s co-founder and strategy chief—described as the result of years of preparation. Speaking to Bloomberg, he said, “It’s been an unbelievable day and a lot of hard work that’s finally come to fruition.”
Trump emphasized that he entered the crypto sector after holding Bitcoin personally for years and witnessing its growing global adoption. He argued that the timing of American Bitcoin’s debut was ideal, stating, “The floodgates are just starting to open.”
Trump Family’s Expanding Crypto Footprint
The Trump family’s connection to cryptocurrency is rapidly deepening. American Bitcoin marks their second major crypto-linked project to gain attention this week. Earlier, World Liberty Financial (WLFI) tokens were listed on exchanges, unlocking nearly a quarter of its 100 billion supply for early investors.
While WLFI has lost more than 30% of its initial value since its debut, it still represents a bold push by the Trump family into tokenized assets. Donald Trump, Eric Trump, Donald Trump Jr., and Barron Trump are all named in the project, which is controlled by a company tied to the family. That company also owns nearly 25% of all WLFI tokens, with holdings worth an estimated $4.8 billion at debut prices.
American Bitcoin now joins that ecosystem as a mining and holding entity, owning more than 2,400 BTC—placing it among the top 30 public companies with the largest Bitcoin reserves. At current market prices around $111,850, the firm’s Bitcoin stash is valued at roughly $273 million.
Eric Trump Defends the Venture
While critics have raised questions about whether American Bitcoin could be seen as leveraging President Trump’s crypto-friendly stance for financial gain, Eric Trump dismissed such concerns. He claimed that his involvement was personal and independent of his father’s political role.
“I got into this business because I was illegitimately debanked from every financial platform in the country,” he said, referencing past disputes with traditional banking services. He added, “My father has nothing to do with this business.”
Eric Trump further argued that President Trump’s long-standing support for cryptocurrency likely played a role in shaping voter sentiment. While Donald Trump once called Bitcoin “thin air” and suggested it “seems like a scam,” his recent policies have shifted toward embracing digital assets, aligning with broader Republican support for the sector.
A Dual Strategy: Mining and Buying Bitcoin
Looking ahead, American Bitcoin plans to both mine and purchase Bitcoin, depending on market conditions. Eric Trump described this as a flexible approach that would maximize shareholder value.
“There’s only a certain amount of Bitcoin that can be mined every day, and we’re going to harness that to the absolute fullest,” he said. “At the same time, we can go out and purchase Bitcoin, hold it in treasury, and allow mining to dollar-cost average down.”
By holding a significant reserve of Bitcoin while simultaneously expanding mining operations, American Bitcoin aims to hedge against volatility and maintain a steady flow of assets.
Political and Market Implications
The debut of American Bitcoin arrives at a time when cryptocurrency is playing an increasingly central role in U.S. politics. Chainalysis recently ranked the U.S. second in global crypto adoption, with many analysts pointing to the Trump administration’s favorable stance as a major factor.
For the Trump family, success with American Bitcoin and World Liberty Financial could reinforce their narrative of being aligned with innovation and financial freedom. However, critics warn that the projects also highlight potential conflicts of interest, given President Trump’s policy influence.
Market-wise, American Bitcoin’s Nasdaq debut is another signal of how crypto-linked firms are seeking legitimacy through traditional finance channels. While companies like MicroStrategy and Coinbase have already set precedents, American Bitcoin’s political ties make it a particularly high-profile case.
Outlook
After a volatile start, American Bitcoin now faces the challenge of proving it can deliver long-term value to shareholders. Its substantial Bitcoin holdings give it a strong foundation, but the company’s ability to scale mining operations profitably will be closely watched.
For investors, the debut demonstrated both the risks and rewards of tying politics, cryptocurrency, and Wall Street into one narrative. While Eric Trump celebrated the first-day gains, the real test will be whether American Bitcoin can sustain growth in a market known for unpredictable cycles.
With the Trump family doubling down on crypto ventures, American Bitcoin’s performance in the coming weeks may not only affect its own valuation but also shape broader perceptions of political involvement in the digital asset industry.
