Eric Trump Said 'Just Hold On' While Bitcoin Erased $600M From His Fortune

American Bitcoin Corp (NASDAQ: ABTC ) shares hit an all-time low Wednesday, erasing more than $600 million from Eric Trump ‘s stake as competitors that pivoted to AI averaged 60% gains against ABTC’s 77% plunge.

American Bitcoin Chose Bitcoin While Everyone Else Chose AI The company co-founded by Eric Trump and Donald Trump Jr. launched in September 2025 and peaked five trading days later at $139.65.

Since then, Bitcoin (CRYPTO: BTC) entered a bear market while AI data center demand exploded, and every major competitor moved to capitalize on it.

Riot Platforms, Cipher Digital, MARA Holdings (NASDAQ: MARA ), and TeraWulf (NASDAQ: WULF ) all announced deals to expand into high-performance compute infrastructure.

Their shares averaged more than 60% gains this year.

American Bitcoin didn’t follow.

The reason is structural.

American Bitcoin’s power, sites, and day-to-day mining operations all run through Hut 8 Corp under exclusive service agreements, leaving the AI data center optionality with Hut 8 rather than ABTC.

Hut 8 leaned hard into that strategy through a rebrand around power infrastructure and multibillion-dollar AI data center leases.

Its shares have more than doubled this year.

American Bitcoin Is Making A Contrarian Argument For Staying The Course CEO Mike Ho argued on the Q1 earnings call that competitors shifting toward AI are actually helping American Bitcoin by reducing mining difficulty. “We’re seeing hundreds of megawatts from the leading public miners shift towards AI, which resulted in the network difficulty dropping about 6% this quarter,” Ho said, arguing that fewer machines chasing Bitcoin rewards means a larger share for those that stay.

The company posted a $118.2 million operating loss in Q1 after marking down its Bitcoin treasury by $117.2 million.

It still bought another 500 Bitcoin on Monday.

Eric Trump said on a recent podcast that selling would require circumstances “beyond catastrophic.” “We are in the greatest period in the history of crypto,” Trump said at the Bitcoin Conference 2026 in Las Vegas. “Just hold on guys, just hold on.” Benchmark analyst Mark Palmer framed the thesis cleanly: “From the standpoint of fleet efficiency, fleet size and the ability to produce Bitcoin, the company is very well positioned.

The issue, of course, is that the price of Bitcoin needs to be moving up for the business model to work.” ABTC Trades Just Above Its 52-Week Low With RSI At 13 ABTC trades at $5.97, just above its 52-week low of $5.76, down 82.8% from its 200-day moving average with every major moving average stacked bearishly overhead.

RSI sits at 13.54, one of the most oversold readings in the market, though oversold conditions can persist in extended downtrends without triggering a reversal.

Key resistance sits at $10.50, aligning with the 20-day EMA as the first level any bounce attempt needs to clear.

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