American Bitcoin Holdings, a cryptocurrency mining company backed by Donald Trump Jr. and Eric Trump, has recorded a decrease of 38.8%, equivalent to a reduction of one billion dollars in market capitalization.

On December 2, American Bitcoin shares, a cryptocurrency mining company backed by Donald Trump Jr. and Eric Trump, dropped sharply by 38.8%, resulting in a loss of approximately one billion dollars from its market capitalization. This decline was driven by early investors selling off their stakes as the lock-up period ended. Eric Trump explained that this decline is a natural profit-taking move, noting that they still hold shares. American Bitcoin, which went public through a reverse merger, aims to become a top platform in bitcoin accumulation. The decline in shares aligns with a broader trend of weakness in the crypto market, where bitcoin has fallen by 30% from its October peak. Other companies in the crypto sector, including Hut 8, have recorded significant declines, and the bitcoin reserve strategy of firms like MicroStrategy has led to considerable losses in capitalization.