According to Odaily Planet Daily, American Bitcoin (NASDAQ: ABTC), a Bitcoin mining company associated with the Trump family, saw its stock price surge nearly 17% to $8.04 per share on its first day of trading on the Nasdaq, reaching an intraday high of around $14. The stock saw over 29 million shares traded on its first day on the Nasdaq. By comparison, recent cryptocurrency IPOs, Circle and Bullish, which went public at higher prices, saw first-day trading volumes of 46 million and 58 million shares, respectively.

Trump's son, Eric Trump, said on Wednesday: "Essentially, we have a great mining business. Right now, our cost to mine Bitcoin is about 50% of its actual price. We have hundreds of millions of dollars worth of fixed assets and data centers to back it up... While others have to buy Bitcoin at market price, we can mine Bitcoin at a price significantly below market price." According to Bloomberg analysis, the successful listing of American Bitcoin means that Eric Trump's shares in the company are now worth more than $500 million. (The Block)