Trump-Backed American Bitcoin Crashes 95% Amid Crypto Bear Market

Shares of American Bitcoin (ABTC), backed by the Trump family, have plummeted approximately 95% from their all-time high. This collapse is largely attributed to a prolonged bear market in Bitcoin and a shift in investor preference toward mining companies that can repurpose their infrastructure for AI and data center services.

The company's fortunes reversed sharply as Bitcoin entered a bear market, and investors began favoring mining operations that could monetize their power, land, and computing infrastructure. This trend has led to the success of firms that have pivoted to AI and high-performance computing, while those remaining pure-play Bitcoin miners have struggled.

Eric Trump's stake in American Bitcoin has seen its market value decline by over $600 million over the past ten months. The company executed a 15-for-1 reverse stock split in an attempt to maintain its listing on the Nasdaq, but shares recently hit an all-time low.