Bitcoin mining now has the Trump name attached through another Eric Trump crypto project. American Bitcoin, supported by Eric Trump and Donald Trump Jr., hit the Nasdaq on Wednesday through a merger with a small-cap miner, sidestepping the usual IPO route.
The crypto stock debuted around $8, surged to $13, and pulled back to roughly $10 by midday. For a moment, its market value touched $7.5Bn, 99Bitcoins reported.
But by Thursday midday, it was trading closer to $6.35. The crash has many asking, “Is this another Trump family rugpull?”
this is the American Bitcoin company the Trumps have taken part ownership in.$ABTC looks like $MELANIA or $TRUMP or $WLFI
insane levels of crime pic.twitter.com/uF5HAhf5Zy
— tradingtulips
(@tradingtulips) September 4, 2025
Eric Trump, following the stock’s debut, said, “[Crypto] treasury companies are popping up all over the place for all sorts of coins, but [American Bitcoin] is very different. This is my baby,” Eric Trump told the Financial Times.
According to its investor presentation, American Bitcoin’s plan is more than mining BTC. It goes:
Eric Trump added: “When you see the facilities, [American Bitcoin] has a real skeleton, it has the backbone.” “It’s very different to a guy who gets together with his buddy in a dorm room to say we’re going to accumulate some bitcoin.”
American Bitcoin is consolidating after a sharp selloff. Immediate support sits at $6.40, with $6.20 as the next line if that floor gives way. On the upside, $6.70–$6.80 remains firm resistance, and bulls need a clean break there.
Bollinger Bands blew wide open during the midday flush, reflecting heavy selling pressure, before tightening back as price tracked the mid-line.
Man, does this look like most Trump-crypto projects? Meanwhile, the intraday chart shows a head-and-shoulders top. The neckline at $6.80 has already broken, confirming a bearish continuation setup.
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Bitcoin mining is brutally competitive. Hashrate has hit record highs while energy prices remain elevated and transaction fees sit near lows. American Bitcoin is touting its partnership with Hut 8, which relocated to Miami after its 2023 merger, as the source of below-market power deals.
This, however, could work against them. Thanks to deregulated energy markets and relatively cheap power, Texas continues to dominate as the U.S. mining hub.
Nuclear energy could also play a pivotal role. In May, Trump signed an executive order to boost nuclear expansion, which, if permits materialize, could favor data centers like American Bitcoin.
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Eric Trump has cast Bitcoin itself in sweeping terms:
“Bitcoin is truly digital gold [and] the only commodity that will never go up in terms of the amount being produced.” -Eric Trump
The debut of American Bitcoin bundles together three volatile forces: 1) mining exposure, 2) treasury strategy, and 3) politics. The open question for investors is whether favorable energy deals and the Trump brand can tip the balance. But hey, the guy’s dad is the president so he’s got that going for him.
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The post Eric Trump Crypto Move Mints Billions: American Bitcoin Post-Launch Analysis appeared first on 99Bitcoins.
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