Eric Trump Loses $600 Million In Bitcoin Bet
It appears that Eric Trump’s significant investment in Bitcoin, through his co-founding of American Bitcoin Corp., has taken a substantial hit. The company’s shares have plummeted by over 95% from their peak, resulting in a paper loss of more than $600 million for Eric Trump’s stake alone over the past ten months. This downturn is attributed to Bitcoin’s slide into a bear market and a shifting investor preference towards companies that could pivot their infrastructure for AI-focused data centers, a move American Bitcoin Corp. evidently did not prioritize.
The narrative surrounding American Bitcoin Corp. was built on the premise that simply owning and mining Bitcoin would be a lucrative endeavor.… Continue reading
Matt Underwood