‘The stacking continues,’ says unfazed Eric Trump despite $600M Bitcoin venture wipeout
Bitcoin treasury firms forced to leverage reverse stock splits to avoid Nasdaq delisting.
Eric Trump’s stake in Bitcoin mining and treasury firm American Bitcoin Corp. has been devalued by about $600 million, according to a Bloomberg report.
He owns about 6% of the firm and doubles as American Bitcoin’s Chief Strategy Officer. His brother, Donald Trump Jr., also owns an undisclosed stake in the firm.
Amid the broader crypto downturn, the firm’s stock, ABTC, has plunged by 97%, crashing from September 2025’s peak of $217 to a record low of $5.98. This week alone, it dumped by over 29%.
The massive stock dump forced the firm to launch a 1-for-5 reverse stock split on 2nd of July to remain listed on the Nasdaq.
A company’s stock must maintain a minimum bid price of $1 to remain listed on the exchange. In fact, Nakamoto, another Bitcoin treasury firm, was forced to opt for a stock split to avoid a similar delisting.
American Bitcoin Corp. scales holdings to 8,000 BTC
Despite the ongoing stock dump, however, the firm increased its BTC stash to 8,000 coins from 7,500 coins.
Commenting on the same, Eric Trump downplayed the stock sell-off as just ‘crypto market volatility.’ In fact, he simply reiterated the commitment to ‘stacking’ more BTC at a discount.
Even with crypto market volatility, I want to reiterate how we continue to differentiate ourselves, mining at a 52% profit margin in Q1 and continually adding to our treasury, all while maintaining one of the lowest SG&A ratios in the industry. The stacking continues.
Separately, the broader Bitcoin treasury demand for the crypto asset has eased significantly after its largest buyer, Strategy, became a seller. Strategy recently sold $216M worth of BTC.
In the last 30 days of trading, the demand from corporate treasuries has been negligible at 0.3%. In fact, after Strategy’s sale, the overall stash held by public companies dropped from 1.267M to 1.265M BTC.
The market faded the recent Strategy’s sale. However, whether it will help form a ‘durable market bottom’ for BTC and shore broader treasury demand remains to be seen.
Final Summary
- American Bitcoin Corp. stock dropped to a record low of $5.9 despite a recent reverse stock split.
- It has dropped by 97% from its last year peak of $217, erasing over $600M of Eric Trump’s stake in the firm.
