American Bitcoin is a cryptocurrency mining project supported by Eric Trump Jr. “ABTC.”
It is also the Trumps’ second launch in less that a week after World Liberty Financial. WLFI token launch Crypto exchanges will take place on Monday.
American Bitcoins Shares Rise 90%
Eric Trump, the co-founder of American Bitcoin and its chief strategy officer, released a statement. described The listing of a “historic milestone,” Emphasizing that the mission of the company is to integrate Bitcoin as the mainstay of US financial markets.
According to President Donald Trump pro-crypto agendaEric expressed the desire that the US lead the Bitcoin economy globally.
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American Bitcoin was initially launched as a sub-company of Hut 8 a publicly listed Bitcoin mining company. After a merger between Gryphon Digital Mining and all its shares, American Bitcoin started trading at $6.90 a share.
The ABTC shares experienced a spectacular surge. They rose up to 90% towards their current record price of $14.52 within the first hour. Later, they settled for a more modest increase of over 40%, and were trading at $9.21 each.
Asher Genoot (CEO of Hut 8 and executive chairperson of American Bitcoin) stated that Hut 8 aims to accelerate the growth in Bitcoin share prices by taking advantage of its mining capability and Hut 8’s strong energy and digital technology infrastructure.
Trump Family Adds to Crypto Portfolio
Trump has taken several steps similar to this in order to list American Bitcoin. digital asset spaceAfter the August approval for trading of WLFI and subsequent debuts on Binance, etc.
The WLFI coin experienced typical reactions on the market. It spiked initially to a record price of $0.47, before stabilizing near its listed price between $0.20-$0.22 for the past few days.
CoinGecko dataWorld Liberty Financial rose quickly to the position of 35th most valuable cryptocurrency in terms of market capitalization. It reached a valuation near $6 billion within record time.
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The current valuations indicate that the World Liberty Financial tokens they hold could be valued at around $5 billion. This would make them one of their most valuable assets.
Trump’s family financial interests have attracted considerable attention in the crypto-world, including a variety of projects ranging from World Liberty tokens In January, a memecoin that was associated with Trump launched.
Eric Trump said recently that crypto is not a currency. “probably the most rewarding venture of my entire life,” His enthusiasm for digital currencies is evident.
Bitcoin’s price is $112,159 at the moment of this writing. That represents an increase of only 1% over the last 24 hour. The current Bitcoin price is about 9% less than the record-breaking price of $124,100.
Image from DALLE and chart by TradingView.com
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Source: www.newsbtc.com
