A bitcoin treasury and mining company linked to the Trump family saw a large rise in its stock price at one point on its first day on the Nasdaq stock market, but it still ended up being valued less than it opened.

The stock opened the day at $9.22, and at one point saw its share price climb as much as 39% by early afternoon to about $14, but it ended the day at $8.04.

American Bitcoin went live on the stock market Wednesday after its merger with crypto mining company Gryphon Digital Mining. The company is backed by President Donald Trump's sons, Donald Trump Jr. and Eric Trump.

Eric Trump, American Bitcoin’s CSO and cofounder, ahead of the stock market opening, said, “Our Nasdaq debut marks a historic milestone in bringing Bitcoin into the core of U.S. capital markets and advancing

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