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.
