Shares in Eric Trump’s cryptocurrency mining venture saw a dramatic loss of nearly 40% in value within just half an hour on Tuesday.
This plunge in Bitcoin, Inc. in the U.S., which led to several trading suspensions, mirrored a broader decline across many cryptocurrencies and related companies. Some analysts are suggesting this might signal the onset of a “crypto winter.” Since early October, Bitcoin’s value has dropped significantly, erasing gains accumulated over the past year.
American Bitcoin, trading as ABTC, closed at $2.39 the previous day but fell to $1.90. After hitting a low in May, the stock peaked at $9.31 on September 9, only to fall by 78% to its current level.
The company ended the day down 38.8%, which translates to roughly $1 billion lost in market capitalization. Trading volume was around 40 times higher than its daily average, as noted by Bloomberg.
Eric Trump mentioned last month on social media that he was charged for a specific event. His Texas-based cryptocurrency operation reportedly handles about 2% of the global Bitcoin supply.
“I genuinely believe we’re building the best crypto company out there,” he said, echoing sentiments often expressed by his father.
In the wake of the ABTC decline, Eric offered his view that the selling pressure was a result of investors cashing out for the first time, indicating that we might expect some volatility.
“I own all @ABTC shares and am completely committed to leading the industry,” he remarked.
This abrupt fall in ABTC’s value happened alongside a substantial downturn in the digital asset market. Bitcoin has dropped over 30% from its peak of $126,272 per coin on October 6 to around $92,133. According to Deutsche Bank analysts, around $1 trillion in value has vanished from the global cryptocurrency market since then.
American Bitcoin was created this year from another company, Hut8Corp, and reported a net income of $3.5 million with revenues of $64.2 million in the November quarter.
Eric Trump’s cryptocurrency mining business is just a facet of the Trump family’s broader involvement in crypto, which began with the launch of NFTs in 2022. In 2024, they introduced a cryptocurrency company named World Liberty Financial, followed by the cryptocurrency $Trump in 2025.
Similar to American Bitcoin, other Trump-associated cryptocurrency ventures are also declining, like World Liberty Financial’s token WLFI, which dropped from 26 cents to around 16 cents since early September.
The Trump family’s wealth has seen significant gains from these cryptocurrency projects. Bloomberg estimates their fortune, once at $7.7 billion in September, has decreased to $6.7 billion due to falling crypto values.
While president, Trump took steps to foster the growth of the digital asset sector and set up a regulatory framework, placing crypto-friendly officials in key positions. Despite being skeptical about cryptocurrencies, referring to them as “not money” and “baseless,” he changed his stance during his second presidential campaign and became the first major candidate to accept crypto donations.
Shares of Trump Media & Technology Group (TMTG), his social media entity that began investing in Bitcoin this year, are trading around $11, down from $42 in February.
Recently, Eric seemed unperturbed by the ongoing crypto downturn. He commented, “What a great buying opportunity,” adding that those who invest during turbulent times will ultimately benefit. “I’ve never been more bullish on the future of cryptocurrencies and the modernization of the financial system,” he concluded.
