Eric Trump‘s bitcoin business, American Bitcoin, has been promoted as a game-changing investment opportunity. President Donald Trump’s son called it a money-printing machine. But when you look at the actual numbers, the story is very different. Investors have been left with major losses.
American Bitcoin started trading on the Nasdaq last September. At that time, investors valued the company at $13.2 billion, according to Forbes. This happened even though the company only had about $270 million in bitcoin on its balance sheet. The gap between the valuation and actual assets raised eyebrows among financial experts.
The company’s president, Matt Prusak, and CEO, Mike Ho, have only two full-time employees. It’s not clear if anyone else is working for the company. This small team is supposedly managing a multi-billion-dollar operation, which has left many wondering how the company actually functions on a day-to-day basis.
The Trump family’s crypto expansion has raised serious questions about conflicts of interest
Eric Trump’s excitement about American Bitcoin looks similar to his father’s business methods. Donald Trump has a track record of overstating the value of his properties and projects. This has led to fraud accusations over the years. Eric Trump was banned from serving as an officer or director of any New York corporation for two years because of his role in a case connected to his father’s business deals.
The Trump family’s business empire moved into the crypto industry with the launch of the $TRUMP memecoin in January 2025. At first, the token got a lot of attention. Over $12.9 billion changed hands right before a gala dinner for major investors. But since then, the token has lost more than 95 percent of its value. Investors have suffered huge losses.
Even with the poor results of the $TRUMP memecoin, Eric Trump’s American Bitcoin has gained a loyal group of MAGA-minded investors. The company’s marketing has worked well in persuading investors that American Bitcoin is a profitable opportunity. Some people have even called it a “money-printing machine.” The Trump family has shown a pattern of branding ventures with extravagant promises across different business sectors.
Trump’s memecoin, $TRUMP, was once the talk of Washington. It’s now down more than 95% from its 2025 high.
— POLITICO (@politico) April 23, 2026
“People are losing on the coin, and they are vocal," said one crypto investor. "They are the people on Twitter like, ‘F–k this coin’ or ‘It’s a scam.’ And they’re right,…
But the actual numbers show that American Bitcoin may not be as profitable as it appears. The company’s mining operation is not making enough money to cover its costs. It’s definitely not making a profit. No one knows if the company’s valuation is based on its real performance or if it’s just a marketing trick. Industry analysts have questioned whether the business model is sustainable in the long term.
The Trump family’s move into the crypto industry has faced criticism from lawmakers and ethics watchdogs. Democrats have accused the president’s business empire of expanding into an industry that he was actively promoting from the Oval Office.
This has created concerns about potential conflicts of interest. The controversy around the Trump family’s crypto businesses has led to growing disappointment with the industry. Investors are pulling back on risky investments as trust continues to decline.
— Crypto Rover (@cryptorover) April 6, 2026
BREAKING:
Eric Trump says he is deeply passionate about cryptocurrencies, especially Bitcoin. pic.twitter.com/jXsg7rpmqp
Despite the controversy, some investors still feel hopeful about the $TRUMP memecoin, reports Politico. Vincent Deriu, a consultant from New York, thinks the token could create a new Trump business empire. He believes it could spread across the technology, crypto, and financial industries. His optimism remains despite the significant financial losses that early investors have experienced.
However, not everyone agrees with this positive outlook. Ogle, a cybersecurity expert and crypto founder, sold off his $TRUMP tokens last year. He won’t be attending the Mar-a-Lago event. He thinks the token’s newness has worn off and it’s no longer a good investment.
As the crypto industry continues to change and evolve, it’s clear that the Trump family’s ventures have been met with skepticism from many quarters. While some investors remain optimistic about future possibilities, others are waiting to see if Eric Trump’s American Bitcoin will actually deliver on its bold promises.
Despite massive losses on the memecoin investment, some loyal supporters continue to back Trump’s crypto ventures. The coming months will be crucial in determining whether these crypto ventures succeed or become another chapter in the Trump family’s controversial business history.
