Trump heir's big Bitcoin bet cost him $600 million
Synopsis American Bitcoin, though, stuck with its crypto strategy and has seen its shares slump more than 95% from their peak. That’s erased more than
Synopsis American Bitcoin, though, stuck with its crypto strategy and has seen its shares slump more than 95% from their peak. That’s erased more than $600 million from the market value of Eric Trump’s stake over the past 10 months, according to Bloomberg calculations, and forced the company this week into a 1-for-15 reverse stock split to maintain its Nasdaq listing. On Wednesday, its stock price hit an all-time low.
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