Markets Outlook – Eric Trump's American Bitcoin Lists on NASDAQ: "The Best Is Yet to Come"

Host: Jen Senazi (CoinDesk)
Guests: Eric Trump (Co-founder & Chief Strategy Officer, American Bitcoin), Asher Ganute (Executive Chairman, American Bitcoin)
Date: September 4, 2025
Note: Timestamps in MM:SS format. Ads and non-content sections omitted.

Episode Overview

This episode covers the highly anticipated NASDAQ debut of American Bitcoin (ticker: ABTC), co-founded by Eric Trump. The discussion dives deep into the company's unique multi-strategy approach—combining large-scale mining, a treasury strategy, and capital markets access—to maximize bitcoin accumulation per share. The hosts and guests discuss American Bitcoin’s rapid public launch timeline, its competitive edge, philosophical commitment to core bitcoin principles, and their vision for bitcoin’s mainstream adoption.

Key Discussion Points and Insights

1. NASDAQ Debut & Day-One Highlights

• Ticker & Trading: ABTC launched on NASDAQ after a reverse merger with Griffin Digital Mining. The stock opened with significant volatility and high volume, trading around $9.50.

  • Quote (Eric Trump): “We had an amazing debut, ticker symbol ABTC. We're building one of the greatest... mining companies anywhere... The best is definitely yet to come.” [00:54]

• Market Response:

  • Quote (Asher Ganute): “Unbelievable demand. I think we're halted three to four times coming out of the gate... there's real demand for creating a bitcoin accumulation vehicle that has a multi-strategied approach.” [01:17]

2. Business Model: Mining & Treasury Strategy

• Objective: Maximizing bitcoin accumulation per share—so that shareholders own more bitcoin over time than through a simple ETF.
  • Quote (Asher): “The goal is to increase the amount of Bitcoin that they own through the shares that they own.” [02:40]
• Competitive Mining: Mining all-in at $57,000-$58,000 per bitcoin, with energy costs as low as $37,000—well below market rates.
• Capital Efficiency: Raising equity and convertible notes at 0-3% interest to acquire bitcoin, taking advantage of its long-term appreciation (70% CAGR over a decade).
• Risk Management: Combining aggressive growth with a risk-first, conservative treasury policy to weather bitcoin’s volatility.
• Fast Execution: Company launched April 1st; went public within five months.
  • Quote (Asher): “We launched this company April 1st, it’s been five months since we launched and went public today.” [03:35]

3. Why Bitcoin? Eric Trump’s Philosophy

• Personal Convictions:
  • Quote (Eric Trump): “Bitcoin is the greatest store of value. I'm a real estate developer... bitcoin obviously solves every single one of the problems that hard assets have now.” [04:31]
• Family’s Crypto Journey: Entered the space after being “canceled by every single bank,” which exposed the fragility of the traditional financial system.
  • Quote: “We got into this business because we were canceled by every single bank and realized how fragile the financial system was. I started realizing the power of digital assets.” [04:31]
• Bullish Prediction: Sees a path to $1 million bitcoin with increasing institutional and public adoption.
  • Quote: “I really, truly believe that bitcoin is the greatest store of value. I believe in the years to come, I think you’re going to have bitcoin hit a million dollars.” [04:31]
• Expansion of Access: Going public provides direct equity exposure to bitcoin for regular investors, which has previously been difficult.

4. Catalysts for Adoption & The Debanking Catalyst

• Mainstream Institutional Movement: Major banks/FIs (Schwab, Fidelity, BlackRock) embracing digital assets; U.S. state governments (e.g., Texas) moving to custody bitcoin.
  • Quote (Eric): “A year ago, Jamie Dimon was saying...not going to touch cryptocurrency. Now they’re probably running at digital assets faster than anyone.” [06:25]
• Major Motivation: The Trump family’s experience being debanked pushed them into digital assets for resiliency.
  • Quote: “No, the debanking was 100% the catalyst of us getting into digital assets... I can tell you this is one of [the unintended consequences].” [08:09]
• Patriotic Undertones: Commitment to building an American-led company using domestic resources and infrastructure.
  • Quote: “There’s probably no more American family... to do American bitcoin ABTC here in America, using American energy, using American data centers... This is an American initiative.” [08:57]

5. Speed to Market & Public Listing Strategy

• Record Timeline: From company launch to public markets in under 5 months.
  • Quote (Asher): “I think there’s some record out there... Huge kudos to the team and all the work that went through in order to do so.” [09:51]
• Why Go Public Fast?:
  • Democracy of access for investors: let any American gain bitcoin exposure at a discount.
  • Access to the world’s best capital markets for scaling up operations.
• Growth Milestones:
  • Started with 80+ mined bitcoin, recently surpassed 2,000, aiming for rapid further accumulation.
  • Quote: “I think that 2000 number... that puts us as 25th in the world on terms of stack of Bitcoin. We’ll be going up those charts very, very quickly.” [10:54]

6. Strategic Relationship with Hut 8

• Vertical Integration Without CAPEX: Partnership allows ABTC to avoid data center/energy infra investments and stay lean, focusing all capital on mining equipment.
• Shareholder Synergy: Hut 8 is a significant shareholder; the collaboration enables robust cost and operational efficiencies.
• Unique Positioning:
  • Quote (Asher): “American Bitcoin is not just a bitcoin mining company... it’s the best of all of those worlds. We’ve truly taken every piece of each... to create one large scale bitcoin accumulator.” [11:21]

7. Focused Strategy Versus Diversification

• Sticking to Bitcoin:
  • Quote (Eric Trump): “No, we want to be very core to bitcoin. The ecosystem... is expanding every single day.” [12:58]
• Global Demand: Cites surging global interest, recent Hong Kong conference with 20,000+ attendees. Sees adoption across continents and industries.
  • Quote: “Asia wants it... all of the Middle East, Central and South America... Fortune 500... the wealthiest families. Everybody is sprinting toward owning bitcoin.” [13:43]

8. Scale Ambitions & Market Share

• Bitcoin Production Target: Mining approximately 3% of the world’s daily bitcoin—a figure backed by recent aggressive expansion (announcement on further capacity incoming).
  • Quote (Jen quoting Eric): “You said, American bitcoin mines about 3% of the world’s Bitcoin every single day.” [14:41]

9. Michael Saylor’s Influence

• Mentorship & Camaraderie:
  • Quote (Eric Trump): “Michael [Saylor] has been our greatest champion... he’s the OG, the GOAT of bitcoin. He’s an inspiration to all of us...” [15:34]
• Healthy Competition: Emphasizes mutual support among major bitcoin players, “a high tide lifts all boats.”

Notable Quotes & Moments

• “Bitcoin obviously solves every single one of the problems that hard assets have now... an asset that's liquid 24/7... can't burn down... not subject to fraud…”
  — Eric Trump [04:31]

• “No, the debanking was 100% the catalyst of us getting into digital assets... I can tell you this is one of them.”
  — Eric Trump [08:09]

• “The best is definitely yet to come.”
  — Eric Trump [00:00 & 04:31]

• “We're mining bitcoin all in for around $57,000-$58,000 a bitcoin, and our cost of energy is around $37,000... extremely competitive.”
  — Asher Ganute [02:40]

• “We're truly at the infancy [of bitcoin adoption], and I think it's a great upward trajectory from here.”
  — Eric Trump [13:43]

Timeline of Important Segments

• 00:00-00:54 — NASDAQ launch celebration and mission statement
• 01:17-02:40 — Market demand for a multi-strategy bitcoin vehicle
• 02:40-04:11 — Deep dive: mining costs, treasury, business model, rapid growth
• 04:31-06:16 — Eric Trump: Why Bitcoin, why now, family’s crypto experience
• 06:25-08:09 — The path to $1 million bitcoin & institutional shifts
• 08:09-09:28 — Debanking as catalyst, patriotic vision
• 09:44-11:16 — Going public: timeline, capital markets access, rapid growth
• 11:21-12:33 — Hut 8 partnership, vertical integration
• 12:58-14:41 — Expansion strategy, global adoption
• 14:41-15:34 — Market share ambitions, production update
• 15:34-16:36 — Michael Saylor’s mentorship and industry camaraderie

Conclusion

The episode presents American Bitcoin as a bold new entrant aiming for massive scale and efficiency in bitcoin mining and treasury management, led by high-profile founders with a strong American identity and mission. The team stresses a commitment to core bitcoin philosophy, prudent risk management, rapid execution, and increased accessibility for everyday investors. Industry relationships and recent shifts in traditional finance are portrayed as catalysts for both the company’s and bitcoin’s immense growth potential.

Final Sentiment:
“We are in it to win this race... the best is definitely yet to come.”
— Eric Trump [00:00, 04:31]