Ah, the American dream-now available in Bitcoin. Following in the glittering footsteps of Michael Saylor’s ever-so-successful Strategy, yet with a Trump family twist.
BTC Tops $112K as Trump Family’s American Bitcoin Hits Nasdaq
In a move that can only be described as “daring” (and perhaps “ludicrous” depending on your perspective), the Trump family has once again thrown their weight behind bitcoin, supporting the latest digital asset treasury firm to grace the Nasdaq. The grand unveiling of American Bitcoin (Nasdaq: ABTC) came after a merger with Gryphon Digital Mining, Inc., and naturally, the new entity’s mission is crystal clear: become a “differentiated, pure-play bitcoin accumulation platform.” Because, well, what’s the point of being a platform if you’re not accumulating bitcoin? After all, what else do you need in life?
On the news, Bitcoin shot above $112K faster than a political headline, and it’s been lounging there ever since, acting like it owns the place.
American Bitcoin operates as a subsidiary of Hut 8 Corp. (Nasdaq: HUT), a Miami-based bitcoin mining giant with a substantial Canadian presence. Hut 8 recently reported a net income of $137.5 million and announced an eye-popping bitcoin reserve of 10,667 BTC-currently valued at a cool $1.2 billion. Because, of course, they’re sitting on it like a dragon with a treasure hoard.
Enter Eric Trump as co-founder and chief strategy officer of American Bitcoin, with his older brother Donald Trump Jr. along for the ride as a shareholder. Their singular aim? You guessed it: “Bitcoin accumulation,” because who doesn’t love a good accumulation session?
“Today, American Bitcoin becomes a premier public vehicle for investors seeking scalable, singular exposure to the defining asset class of our time,” Eric Trump declared. Donald Trump Jr., ever the philosopher, added, “With our Nasdaq listing, we are elevating this mission onto the global stage.” It’s all very noble, isn’t it? ABTC shares are currently fluttering around the $8 mark, just in case you’re thinking of joining the accumulation train.
Market Metrics in a Nutshell
Bitcoin is currently priced at $112,018.19, up 1.17% over 24 hours and 0.05% over the past week, according to Coinmarketcap data. It’s been bouncing between $110,582.96 and $112,600.22 today, like a really enthusiastic tennis ball.
The 24-hour trading volume fell by a modest 18.2% to $62.12 billion, because even the market needs a break sometimes. However, the market capitalization has risen by 1.25%, now sitting comfortably at $2.23 trillion. Bitcoin dominance dropped to 58.38%, down 0.31% from yesterday. It’s almost as if Bitcoin is playing hard to get.
Total bitcoin futures open interest for the day dipped by a mere 0.46%, landing at $81.13 billion. Bitcoin liquidations also fell, totaling $37.93 million, with shorts leading the charge at $32.59 million. The remaining $5.34 million? That’s your longs, quietly whimpering in the corner.
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2025-09-03 23:28