American Bitcoin's stock price has fallen over 95% from its peak, and Eric Trump's share value has shrunk by more than 600 million dollars

According to Bloomberg, the stock price of American Bitcoin, co-founded by Eric Trump, has fallen over 95% from its peak, with the market value of his approximately 6% stake shrinking by more than $600 million over the past 10 months.

The company implemented a 1-for-15 reverse stock split this week to maintain its Nasdaq listing qualification, with the stock price hitting a record low on Wednesday. American Bitcoin continues to adhere to its Bitcoin mining and accumulation strategy, adding another 500 BTC on Monday, bringing its holdings to over 8,000 BTC; in the first quarter, it recorded an impairment of $117.2 million on its Bitcoin reserves, resulting in an operating loss of $118.2 million.