Bitcoin Jumps Past $112,000 as “American Bitcoin” Launches on Nasdaq With Trump’s Support
Bitcoin Tops $112K as American Bitcoin Joins Nasdaq Backed by Trump Family
Bitcoin jumped above $112,000 after American Bitcoin (ABTC) officially debuted on Nasdaq. The company was formed through a merger with Gryphon Digital Mining and aims to become a platform focused only on Bitcoin accumulation.
American Bitcoin is a subsidiary of Hut 8 Corp. (HUT), a Miami-based Bitcoin mining company with large operations in Canada. Hut 8 recently reported a $137.5 million profit in Q2 and holds a Bitcoin reserve of 10,667 BTC, worth about $1.2 billion.
The Trump family is heavily involved. Eric Trump is co-founder and Chief Strategy Officer, while Donald Trump Jr. is a shareholder. Their goal is to maximize Bitcoin per share for investors.
Eric Trump said, “Today, American Bitcoin becomes a premier public vehicle for investors seeking scalable exposure to Bitcoin. With our Nasdaq listing, we are bringing this mission to the global stage.” ABTC shares were trading around $8.
Bitcoin Market Snapshot
- Price: $112,018 (+1.17% in 24h)
- Market Cap: $2.23 trillion (+1.25%)
- 24h Trading Volume: $62.12 billion (down 18.2%)
- BTC Dominance: 58.38% (down 0.31%)
- Futures Open Interest: $81.13 billion (down 0.46%)
- Liquidations: $37.93 million (mostly shorts).
