{"id":17770,"date":"2025-09-12T09:55:18","date_gmt":"2025-09-12T09:55:18","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/17770\/"},"modified":"2025-09-12T09:55:18","modified_gmt":"2025-09-12T09:55:18","slug":"trump-backed-american-bitcoin-jumps-by-12-after-170m-bet-details","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/17770\/","title":{"rendered":"Trump-backed American Bitcoin jumps by 12% after $170M bet\u00a0– Details"},"content":{"rendered":"

\t\t\t\t\t\t\t\tKey Takeaways<\/p>\n

American Bitcoin\u2019s stock extended its Nasdaq debut gains to over 50%. The latest catalyst is a $170M stake in the Trump brothers-backed firm from Dominari Holdings.\u00a0<\/p>\n

On 09 September, the share price of American Bitcoin<\/a> Corporation (Nasdaq: ABTC) rallied by 11.63% and closed at $9.31 following a $170 million investment.\u00a0<\/p>\n

Ahead of the market open on 10 September, it pumped by another 7.3% to nearly $10, pushing its rally since its Nasdaq debut to 52%.\u00a0<\/p>\n

\"American<\/a><\/p>\n

Source: Google Finance<\/p>\n

A $170M bet on BTC<\/p>\n

The latest rally was triggered by Dominari Holdings\u2019 over $170 million stake in the firm. Dominari\u2019s CEO, Anthony Hayes, referred<\/a> to American Bitcoin\u2019s debut as a \u201csignificant milestone,\u201d adding that they will support the firm\u2019s growth strategy.\u00a0<\/p>\n

In May, the Trump brothers-backed mining and BTC accumulation firm announced<\/a> a merger with a small miner, Nasdaq-listed Gryphon Digital Mining. This was its pathway to the public markets, which happened on 03 September.\u00a0<\/p>\n

As part of the merger, Gryphon holders accepted a 5-for-1 reverse stock split. The final firm would retain the name American Bitcoin and under the ticker symbol ABTC.\u00a0<\/p>\n

HUT 8 Mining is the majority shareholder in American Bitcoin, but Eric Trump and Donald Trump Jr. also have a stake in it.\u00a0<\/p>\n

Worth noting, however, that the Trump family\u2019s crypto ventures do not stop at Bitcoin mining. Through World Liberty Financial, the family has expanded to stablecoins (USD1), memecoins like Official Trump [TRUMP]<\/a>, and a token launchpad, among others.\u00a0<\/p>\n

In fact, even the family\u2019s media firm has applied<\/a> for Crypto ETFs, underscoring massive interest in the sector. Unfortunately, his ventures have also raised conflict-of-interest concerns as his administration pushes for pro-crypto policies.\u00a0<\/p>\n

According to some policy watchers, Trump\u2019s ventures, especially World Liberty Financial, could derail<\/a> the crypto market structure bill.\u00a0<\/p>\n

\t\t\t\t\t\t\t\t\t\t\tNext: $1 Trillion stablecoin market by 2026? Here\u2019s what needs to happen<\/a>\t\t\t\t\t\t\t\t\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"Key Takeaways American Bitcoin\u2019s stock extended its Nasdaq debut gains to over 50%. The latest catalyst is a…\n","protected":false},"author":2,"featured_media":17771,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[7625,138,111,139,69],"class_list":{"0":"post-17770","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-ambcrypto","9":"tag-business","10":"tag-new-zealand","11":"tag-newzealand","12":"tag-nz"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/17770","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=17770"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/17770\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/17771"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=17770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=17770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=17770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}