Eric Trump's Bitcoin bet sees family fortune plunge by $600 million
Eric Trump’s cryptocurrency venture has reportedly suffered a dramatic reversal after months of falling share prices and growing pressure across the Bitcoin mining industry.
American Bitcoin Corp was built around an initiative to own and mine the world’s largest cryptocurrency to potentially generate substantial returns, with Eric serving as co-founder and chief strategy officer.
The company pursued that strategy as other miners began adapting their infrastructure for artificial intelligence data centers, an area that has attracted increasing investor interest because of soaring demand for electricity, land and computing capacity.
However, American Bitcoin remained focused on crypto as Bitcoin moved into a bear market, leaving the business exposed as investors shifted towards companies with more flexible operations.
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According to calculations by Bloomberg, the market value of Eric's estimated six percent stake has fallen by more than $600 million over the past 10 months after the company's shares dropped more than 95 percent from its peak.
The reported collapse has also forced American Bitcoin to carry out a 1-for-15 reverse stock split in an attempt to keep its Nasdaq listing. It's said that the share price then reached an all-time low on Wednesday (July 8).
As for what a reverse stock split is, one essentially reduces the number of shares in circulation while increasing the price of those that remain, but it does not restore any of the company’s lost market value.
This level of downturn definitely highlights how quickly conditions have changed for Bitcoin miners.
Companies were previously judged largely on how much cryptocurrency they could produce. Now, though, investors are placing greater value on businesses able to redirect their power supplies and data-center infrastructure towards AI.
That shift has left pure crypto operations under greater pressure as digital asset prices fall and demand for AI computing continues to rise.
American Bitcoin’s troubles come despite the Trump family reporting significant income from other cryptocurrency ventures.
As noted by Reuters, Donald Trump disclosed at least $1.4 billion in crypto earnings last year, while his family has also been linked to World Liberty Financial and the $TRUMP meme coin.
The US president has reportedly made around $636 million from the meme coin during 2025.
Retail investors have faced a different outcome. Figures from crypto data firm Nansen, cited by The New York Times, suggested that around two-thirds of people who bought $TRUMP lost money, with combined losses reaching $3.81 billion by late June.
The POTUS previously said he was not closely involved with the details of his cryptocurrency fortune.
He told CNBC in early July: “I could know about it… I didn’t, I mean, there’s nothing illegal, there’s nothing wrong with it. I could know.”
The White House also told the Independent that there are ‘no conflicts of interest’ surrounding his business activities.
UNILAD has contacted representatives of Eric Trump, American Bitcoin and the White House for comment.
Topics: Cryptocurrency, Bitcoin, Artificial Intelligence, US News
Ben Williams