American Bitcoin, which involved the Trump brothers, surged on its first day on the Nasdaq.
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American Bitcoin (ticker: ABTC), a Bitcoin mining company jointly owned by President Donald Trump Jr. and Eric Trump, surged about 17% on its first day of trading on the Nasdaq, closing at $8.04, The Block reported. At one point, the price soared to $14 during the day. Eric Trump told Bloomberg, "We're mining Bitcoin at about half the current market price, and we're operating stably backed by real assets like data centers worth hundreds of millions of dollars." The listing values Eric Trump's stake at approximately $500 million.
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