American Bitcoin rose nearly 17% on its first day of listing, and Eric Trump's shares valued at over $500 million

PANews reported on September 4 that according to The Block, American Bitcoin (stock code ABTC), a related Bitcoin mining company related to the Trump family, rose nearly 17% on the first day of listing on the Nasdaq, to ​​$8.04 per share, and its stock price once hit a high of about $14 at one point. The stock traded in the first day of the Nasdaq. In contrast, cryptocurrency IPO projects Circle and Bullish, which recently listed at higher per share prices, traded 46 million shares and 58 million shares on the first day of listing, respectively. Trump's son Eric Trump said on Wednesday: "Essentially, we have an excellent mining business. At present, the cost of mining bitcoin is about 50% off the actual price of bitcoin. We have hundreds of millions of dollars worth of fixed assets, and data centers as a backing... When others have to buy bitcoin at market prices, we can mine bitcoin at a price that is significantly lower than the market price." According to Bloomberg's analysis, the successful listing of American Bitcoin means that Eric Trump's shares are worth more than $500 million.