Trump's oldest sons' American Bitcoin stake worth $1.5 billion in stock debut

[Yo_Mama_Been_Loggin]

NEW YORK (Reuters) -A bitcoin company tied to President Donald Trump's two oldest sons more than doubled in value in its stock market debut on Wednesday, valuing the sons' stake at well over $1.5 billion as the first family grows their crypto business interests.

Shares in American Bitcoin Corp, a bitcoin miner, soared as high as $14.52 in its first day of trade on the Nasdaq, before pulling back to be up 16.5% at $8.04 by the end of the day.

The company is around 20% owned by Eric Trump and Donald Trump Jr, American Bitcoin Executive Chairman Asher Genoot said in a previous interview.

This values their stake in American Bitcoin at $1.5 billion at the close of trade, based on 908.6 million outstanding shares that American Bitcoin said it had in a September 2 stock exchange filing. The highest price struck by the stock on Wednesday valued their stake at $2.6 billion.

https://finance.yahoo.com/news/trumps-oldest-sons-american-bitcoin-233906268.html

It won't be worth shit soon. My guess is they're hyping it then dumping it.

[Johonny]

1. This is what the presidency is really about.

[Emile]

2. Sounds like a pyramid scam.

[Buns_of_Fire]

3. It'll be interesting watching all the TacoCoins, DruggieCoins, GumzCoins,

$trumpetCoins, and BarronCoins implode one... by... one. Not fun, but interesting.

Of course, by then the whole crime family will hiding in some remote fortress, lauded by the maggots as elder statesmen and visionaries. And I'm looking for my Rent-A-Tumbrel business to increase dramatically.

[no_hypocrisy]

4. Enjoy it while you got it boys . . . .

Once Daddy's no longer in charge, you won't be able to make deals with anyone after that.

[Emile]

5. They better keep a keen eye on Eric Trump and Donald Trump Jr.

They'll steal them blind.