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Eric Trump responds to Forbes criticism: ABTC BTC holdings surpass 7,000 coins, ranking 16th among publicly listed Bitcoin companies
ChainCatcher News: Trump’s second son, Eric Trump, responded to a Forbes attack claiming that he profited significantly through his Bitcoin business, harming MAGA investors. Eric said Forbes has become a disgrace in journalism. Just over a year ago, his Bitcoin company, American Bitcoin (ABTC), did not exist. Seven months and 25 days ago, ABTC was listed on Nasdaq. Today, it holds more than 7,000 Bitcoins, making it the world’s 16th-largest publicly traded Bitcoin company. Behind it is a massive cluster of nearly 90,000 mining rigs, 28 EH/s of computing power, and it uses the highest-quality energy in the United States.
Only in the fourth quarter, the Bitcoins on the balance sheet increased by 58%, and mining costs were 53% lower than the Bitcoin market price. Fourth-quarter revenue reached $78.3 million, up 22% quarter-over-quarter. American Bitcoin can be described as the company that entered the “Top 100” rankings in the fastest time in this space, and it has been actively expanding its mining scale every day. This narrative is identical to the talking points Forbes had back then.
Previously, ChainCatcher reported that Forbes published an article criticizing Trump’s second son, Eric Trump, for his Bitcoin business as a disaster. It noted that Eric Trump marketed his Bitcoin company, American Bitcoin (ABTC), as a money-printing machine, but in reality it was only an arbitrage tool designed to target and exploit investors who support MAGA (Make America Great Again).