Somehow, Eric Trump's "money printing" bitcoin business left investors holding the bag
Eric Trump's bitcoin venture, American Bitcoin, has faced significant scrutiny as its stock value plummeted, leaving investors with substantial losses. While the company was initially valued at $13.2 billion, it has since dropped 92% from its peak, with everyday investors losing an estimated $500 million. Despite these losses, Eric Trump and other insiders have profited significantly from the venture.
- ▪Eric Trump's bitcoin company, American Bitcoin, was initially valued at $13.2 billion.
- ▪The stock has since dropped 92%, resulting in everyday investors losing about $500 million.
- ▪Eric Trump's personal fortune increased from $190 million to $280 million through this venture.
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| Original publisher | Boing Boing |
| Canonical URL | https://boingboing.net/2026/04/28/somehow-eric-trumps-money-printing-bitcoin-business-left-investors-holding-the-bag.html |
| Publication time | Tue, 28 Apr 2026 16:40:00 +0000 |
| Retrieval time | 2026-04-28T16:55:12.688Z |
| Last seen | 2026-04-28T16:55:12.688Z |
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Somehow, Eric Trump's "money printing" bitcoin business left investors holding the bag Jason Weisberger 9:40 am Tue Apr 28, 2026 mark reinstein/Shutterstock.com Eric Trump sold his bitcoin company as a profit machine. But as the stock soared and then cratered, it was investors, not family insiders, who ended up stuck with the losses. Eric Trump's newest bitcoin venture may be selling a story more than a business. As he tells it, American Bitcoin can print money by mining bitcoin for roughly half of what it is worth. But a closer look at the numbers calls into question whether the company can mine bitcoin profitably at all, let alone with such massive margins. Representatives of Eric Trump, the Trump Organization and American Bitcoin did not respond to repeated requests for comment.
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