American Bitcoin, backed by the Trump family, saw a volatile debut on the Nasdaq, ending the day up over 16%. The company, previously Gryphon Digital Mining, surged 91% before dropping and being halted for trading multiple times due to volatility. Eric Trump stated the company will mine and buy Bitcoin. Their stash of 2,443 BTC is worth $273 million.

Eric Trump said the floodgates are opening for Bitcoin, citing global acceptance. The US rose to second in crypto adoption, with Trump’s policies as a driver. He dismissed criticism of profiting from his father’s policies, stating his father had always supported cryptocurrency. Trump’s second crypto venture, World Liberty Financial, also went public this week.

American Bitcoin, the Trump family’s latest venture, is the second crypto project to go public this week. World Liberty Financial tokens dropped 30% post-debut, with a quarter of all tokens owned by the Trump family. Eric Trump’s stake in American Bitcoin is estimated at $548 million, stating they are fortunate regardless of the venture.

Read more at Cointelegraph: Trump-Linked American Bitcoin Sees Choppy Nasdaq Debut