A bitcoin treasury and mining company linked to the Trump family debuted Wednesday on the Nasdaq stock exchange, with the stock rising more than 10%.
American Bitcoin’s listing follows a completed merger with Gryphon Digital Mining. The company is backed by President Donald Trump’s sons, Donald Trump Jr. and Eric Trump.
“Our Nasdaq debut marks a historic milestone in bringing bitcoin into the core of U.S. capital markets,” Eric Trump said in a statement. He is a co-founder and chief strategy officer of American Bitcoin.
Public companies accumulating bitcoin as a corporate treasury has become a popular trend in crypto as the world’s most popular digital asset is priced near an all-time high. The parent company of Trump’s Truth Social has also moved to accumulate bitcoin.
American Bitcoin said it plans to use “self-mining operations and opportunistic bitcoin purchases” to stand out in a growing field.