Trump, Bitcoin and Crypto Ventures
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Shares of American Bitcoin, the mining and accumulation firm co-founded by Eric Trump and Donald Trump Jr., tumbled sharply on Tuesday after a portion of the company’s stock was released from its lockup period.
American Bitcoin, a majority-owned subsidiary of Hut 8 Corp. ( HUT-T -13.66% ), is one of the several crypto ventures linked to the Trump family that began trading on the Nasdaq in September following a reverse merger with Gryphon Digital Mining.
Eric Trump says that now is a “great time to buy Bitcoin,” and added that BTC is the “greatest asset of our time.”
Bitcoin and companies tied to cryptocurrencies extended a nearly two-month swoon Monday, tracking with a broader market sell-off in technology companies that many see as overvalued.