Trump-backed stock surges after new announcement

Eric Trump has long championed his father, President Donald Trump’s stance on cryptocurrency. On Oct. 22, he said the recent trade tensions with China as “part of the business.”

The American Bitcoin (NASDAQ: ABTC) co-founder and chief strategy officer hinted that his firm remains largely unaffected by the proposed 100% tax on Chinese imports, despite sourcing mining equipment from China.

Instead, Eric pointed to declining energy costs for Bitcoin (BTC) mining since his father assumed office, describing it as a “major advantage” for the company’s operations.

Related: Explained: Types of Bitcoin mining

American Bitcoin rallies in pre-market

American Bitcoin shares traded up 4.98% in pre-market on Oct. 27 after announcing the purchase of 1,414 BTC. At the time of writing, ABTC was trading at $5.90 after it closed at $5.62 last Friday.

As of Oct. 24, 2025, the company held roughly 3,865 BTC through a mix of mining and strategic acquisitions. That figure includes Bitcoin held in custody or pledged to mining manufacturer Bitmain under equipment purchase agreements.

The firm also introduced a new reporting metric, "Satoshis Per Share (SPS)," designed to give investors a clearer view of the Bitcoin value underlying each ABTC share. SPS represents the number of satoshis, the smallest unit of Bitcoin, attributable to each share by dividing total BTC holdings by the number of outstanding shares.

More News:

Guess who’s paying for Trump’s $300M ballroom ‘Black Swan’ trader books profit after Trump's decision Wall Street veteran drops major hint ahead of Trump's 3PM announcement

Pro-crypto policies

Eric Trump has praised his father’s “pro-crypto” stance, saying the administration had done more for digital assets in one week than anyone had in the past decade.

Donald Trump changed his stance significantly after the end of his first term. In his second term, he passed some of the key bills in favor of cryptocurrency and digital assets.

Among the milestones was the passage of the Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025, or the GENIUS Act, signed into law on June 17. The legislation created a federal framework for stablecoins, defining their issuance and backing requirements.

The Digital Asset Market Clarity Act of 2025, passed in July, was another milestone that clarified regulatory boundaries between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). The act formally distinguishes “digital commodities” from “securities."US President Donald Trump and son Eric Trump (Photo by ANDY BUCHANAN/AFP via Getty Images)

Eric's bold Bitcoin prediction

Eric has previously predicted Bitcoin’s price could hit $1 million “probably in the 2030s,” though he said he hopes to see it sooner.

Story Continues

At press time, Bitcoin was trading at $115,417, up 1.9% amid optimism surrounding renewed trade talks between the U.S. and China. A “basic consensus” was reportedly reached in Malaysia on Oct. 26, easing fears over new tariffs and export controls.

The positive sentiment extended to the broader crypto market. Ether (ETH) rose 2.9% to $4,160.45, while Solana (SOL) gained 1.1% to $200.07, a promising sign ahead of the Solana Breakpoint developer conference in early December.

This story was originally reported by TheStreet on Oct 27, 2025, where it first appeared in the Business News section. Add TheStreet as a Preferred Source by clicking here.

View Comments