American Bitcoin, a mining venture tied to Donald Trump Jr. and Eric Trump, has officially entered Wall Street.
Trading under the ticker ABTC, the company debuts on the Nasdaq after finalizing a merger with Gryphon Digital Mining.
Aiming to Become a Bitcoin Treasury Powerhouse
The firm already holds about 2,443 BTC, ranking among the top 25 public corporate holders, but its ambitions go much further. Eric Trump has publicly said the goal is to surpass industry leaders like MicroStrategy and establish American Bitcoin as the dominant treasury company in crypto.
Big Backers and Early Funding
To fuel that mission, American Bitcoin raised $220 million earlier this year in both cash and Bitcoin. Notable investors included the Winklevoss twins, while mining firm Hut 8 secured a major equity stake through a previous merger. Those moves gave the company both capital and infrastructure before its public market debut.
The Road Ahead
While the company now steps into the spotlight with the Trump name behind it, competition will be fierce. Rivals like MicroStrategy hold hundreds of thousands of BTC, setting a high bar. Still, the Nasdaq listing marks a bold step in the Trumps’ attempt to build one of the largest Bitcoin treasuries in the world.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/trump-familys-bitcoin-mining-venture-makes-nasdaq-debut-under-ticker-abtc/