Key Facts
The price for ABTC dropped 34% as of 2:50 p.m. EST, recovering slightly after falling as much as 51% in the hour after markets opened.
Eric Trump is American Bitcoin’s co-founder and chief strategy officer, while Donald Trump Jr. is listed on the company’s website as an investor.
In a post on social media, Eric Trump blamed stock price fluctuations on the company’s “pre-merger private placement shares” unlocking today, which he said allowed early investors to cash in.
Eric Trump said he’s committed to holding all of his shares in the company, insisting the company’s bitcoin mining business is strong and its “fundamentals are virtually unmatched,” referring to “mining BTC at ~50% of spot with 56% gross margin in Q3.”
The company debuted on the Nasdaq in September and stock prices surged after a merger with another bitcoin mining company, but share prices have since declined about 78% since their September high.
American Bitcoin says it holds over 3,000 bitcoin obtained through “Bitcoin mining and strategic at-market purchases,” according to its third quarter earnings report, with $64.2 million in revenue and $3.5 million in net income during the quarter.
The price of bitcoin fell Monday, declining about 6%, but has since recovered to over $92,000 after a Tuesday rally.
Key Background
Bitcoin reached a record high in October, when prices topped $126,000. However, the price began falling after the Federal Reserve indicated further interest rate cuts were not guaranteed in December—as cryptocurrency prices tend to coincide with lower interest rates. Bitcoin’s price has since fallen more than 30% since its Oct. 6 peak, reaching a low of $85,468 on Monday before recovering slightly.
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Source: https://www.forbes.com/sites/zacharyfolk/2025/12/02/stock-price-for-crypto-firm-american-bitcoin-founded-by-trumps-son-plummets-40/
