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Eric Trump Responds to Forbes: ABTC Ranks as 16th Largest Public Bitcoin Company, Critiques Similar Narratives from the Past
On April 29, Eric Trump, the son of former President Donald Trump, responded to Forbes’ criticism regarding his significant profits from the Bitcoin business, which he claims harms MAGA investors. Eric stated that Forbes has become a disgrace in the journalism industry. Just over a year ago, his Bitcoin company, American Bitcoin (ABTC), did not even exist. ABTC went public on Nasdaq 7 months and 25 days ago and now holds over 7,000 Bitcoins, making it the 16th largest publicly traded Bitcoin company in the world, backed by a massive cluster of nearly 90,000 mining machines and a hash rate of 28 EH/s, utilizing the highest quality energy in the United States. In the fourth quarter alone, the Bitcoin on the balance sheet increased by 58%, with mining costs 53% lower than the market price of Bitcoin, and revenue reached $78.3 million, a 22% quarter-over-quarter increase. American Bitcoin can be said to be the company that has entered the ‘Top 100’ in this field at the fastest pace, and it is actively expanding its mining scale every day. This narrative is strikingly similar to the rhetoric used by Forbes in the past.