Eric Trump’s bold Bitcoin bet has ended in huge losses. His company American Bitcoin Corp, focused only on mining, has seen its shares crash by more than 95% in ten months. This collapse erased over $600 million from the Trump family’s fortune.
To avoid being removed from Nasdaq, the company carried out a one‑for‑15 reverse stock split. Even after this move, its shares touched record lows this week. Eric Trump owns about 6% of the company and serves as chief strategy officer. Donald Trump Jr also advises the firm, though his stake remains undisclosed.
The fall comes as investors shift towards miners who can repurpose infrastructure for artificial intelligence data centers. Demand for AI has surged, leaving crypto‑only ventures behind. American Bitcoin stuck to its mining strategy and did not diversify, making it vulnerable to the downturn.
Ironically, while Eric Trump’s venture collapsed, President Donald Trump reported at least $1.4 billion in crypto earnings last year. The contrasting fortunes underline the unpredictable nature of digital assets. For retail investors and the Trump family alike, the company’s struggles highlight the risks of speculative ventures in the volatile world of cryptocurrency.
