"Buy the Dip": Trump’s Son Accumulates 8,000 Bitcoins, But Investors Reel from Losses

Holding Over 8,000 BTC, Pledges Further Accumulation

"Are They Cashing Out?"

Investor Backlash Amid Stock Price Plunge

Eric Trump, the second son of U.S. President Donald Trump, revealed that the Bitcoin holdings of the company he founded have surpassed 8,000 coins and expressed his intention to continue accumulating more. However, his remarks about additional purchases, coupled with a sharp drop in the company’s stock price, have drawn criticism from investors.

On the 7th (local time), Eric Trump announced via X (formerly Twitter) that American Bitcoin Corp (ABTC) now holds more than 8,000 Bitcoins (BTC).

U.S. President Donald Trump (right) and his second son Eric Trump. Eric Trump Instagram

In his post, Eric Trump stated, "I am pleased to announce that American Bitcoin has surpassed 8,000 Bitcoin in holdings," adding, "Despite the volatility in the digital asset market, we achieved a 52% mining yield in the first quarter, and while maintaining one of the industry’s lowest SG&A expense ratios, we continue to add Bitcoin to our financial assets." He then emphasized, "The accumulation of Bitcoin continues."

Currently, American Bitcoin holds approximately 8,000 BTC, equivalent to about $50 million based on market value. According to BitcoinTreasuries, a site that ranks corporate Bitcoin holdings, the company ranks 16th among listed companies in terms of Bitcoin ownership. The top spot is held by Strategy, which owns approximately 840,000 Bitcoins.

"Is He Encouraging Others to Buy?" Criticism Emerges

However, the post has faced criticism online.

According to cryptocurrency media outlet CCN, some users are sharing Eric Trump’s previous posts that repeatedly said "Buy the dip," arguing that he may be encouraging investors to buy more Bitcoin. They claim that his posts over the past year have instilled excessive optimism among investors, but repeated price corrections of more than 20–30% have led to increased investment losses.

One user asked, "Can we file a lawsuit against the Trump family?" and claimed, "They keep telling shareholders to buy while cashing out themselves. Someone needs to investigate this."

However, CCN reported that there is no evidence that Eric Trump or American Bitcoin sold Bitcoin at the time of those remarks.

Stock Price Plunges 94% After Listing

American Bitcoin has adopted a strategy of holding Bitcoin for the long term by combining self-mining and direct purchases. The company stated that it plans to continue increasing its Bitcoin holdings through future mining output and strategic acquisitions.

However, its performance has been poor. In the fourth quarter of last year, the company recorded a net loss of $59 million, turning from a $3.5 million profit in the previous quarter to a deficit. On an annual basis, the company posted $185 million in revenue but a net loss of $153 million.

The company was established in March last year as a joint venture between mining company Hut 8, Eric Trump, and Donald Trump Jr., the eldest son of President Trump. In September of the same year, it achieved a backdoor listing on Nasdaq through a merger with Gryphon Digital Mining.

Immediately after listing, the stock price soared but subsequently declined in line with the broader downturn in the digital asset market. According to U.S. financial media outlet Benzinga, American Bitcoin’s stock price has fallen by about 94% since its listing. Last month, the company implemented a 15-to-1 reverse stock split, but the stock price dropped another 38% after the split.

This content was produced with the assistance of AI translation services.