Eric Trump Defends American Bitcoin Amid Forbes Criticism

• Eric Trump defended American Bitcoin (ABTC), highlighting its rapid growth, Nasdaq listing, and position among the top publicly traded Bitcoin firms with over 7,000 BTC holdings.
• Forbes alleged the company relied heavily on brand-driven hype and stock sales, claiming insiders profited while investors faced steep losses as shares fell sharply.
• The debate centers on ABTC’s financial sustainability, with concerns over high mining costs and reliance on a Bitcoin price rebound or external funding to remain viable.

Eric Trump has pushed back against criticism from Forbes over his crypto project, American Bitcoin (ABTC). The controversy was about a wider difference between the firm’s reported growth and concerns about its business model and investor outcomes.

Eric Trump Responds to ABTC Criticism 

Eric Trump has recently dismissed the publication’s claims and questioned its credibility. He said Forbes had “become a disgrace to journalism” while defending the rapid rise of American Bitcoin. According to him, the company did not exist just over a year ago. It has since grown into one of the larger publicly traded Bitcoin firms.

American Bitcoin, also known as ABTC, went public on Nasdaq less than eight months ago. Since then, the company has built a sizeable crypto position. It now holds more than 7,000 Bitcoins on its balance sheet. This places it among the top publicly listed firms holding Bitcoin globally, with Eric Trump stating it ranks 16th.

The company has also expanded its mining operations. It operates close to 90,000 mining machines and reports a hashrate of 28 exahashes per second. Eric Trump said the firm uses efficient energy sources within the United States to support its operations. He pointed to internal performance metrics to support his claims of growth.

In the fourth quarter, the company reported a 58 percent increase in Bitcoin holdings. Mining costs were also highlighted as being significantly lower than the market price of Bitcoin. Revenue for the quarter reached $78.3 million, marking a 22 percent rise compared to the previous quarter. Eric Trump described the company as one of the fastest to enter the top ranks in the sector.

But, the narrative presented by Forbes is different. Forbes said American Bitcoin is a high-risk venture that relies on momentum and branding. It claimed it profited from the Trump name and investor interest in crypto rather than sound operational fundamentals. 

According to Forbes, the company scaled quickly after its launch in 2025 and reached a valuation of over $13 billion. The report claimed that this growth was supported by aggressive stock sales and promotional messaging. It also questioned the size of the company’s core team and suggested that operations were limited compared to its public positioning.

The report raised concerns about investor impact. It stated that ABTC shares have dropped sharply over the past several months. From their peak, the stock has declined by around 92 percent. This has led to significant losses for investors, including those aligned with the political base that supported the brand.

Forbes also examined the economics of the company’s mining business. Even as management reported lower direct mining costs, the publication noted that full operational expenses tell a different story. Once overhead and equipment costs are included, the estimated cost of producing one Bitcoin rises to about $90,000. With market prices below that level, the report suggested that the company may be operating at a loss.

This difference between cost and market value has added pressure on the firm’s outlook. Shares have already plummeted almost 29% since the beginning of the year. Analysts quoted in the report wondered if the company could stick it out without Bitcoin pricing recovering. Moving forward, the company seems to be experimenting with a handful of approaches. One possibility is to wait for a rise in Bitcoin prices.Forbes estimated that a 35 percent increase could shift current trading losses into a profit position. This approach depends on market conditions improving in the near term.

The company’s leadership has connections in the United Arab Emirates. Discussions have reportedly included the use of surplus energy for mining operations. Potential partnerships with investment groups such as ADQ and TAQA have also been mentioned. These entities are linked to Tahnoon bin Zayed Al Nahyan. Such joint ventures could provide capital and infrastructure support. At the same time, they bring in additional risks tied to foreign investment and long-term returns. The outcome of these efforts may influence the company’s ability to sustain its operations.

Rapid growth in crypto can attract attention, but it also brings scrutiny. In this case, the gap between public claims and external analysis has become a talking point.