American Bitcoin, a cryptocurrency mining and holding company backed by former U.S. President Donald Trump’s sons and Canadian miner Hut 8, is preparing to list on the Nasdaq exchange under the ticker ABTC, the company said on Tuesday.
Ethereum has taken center stage in the cryptocurrency market, drawing substantial investor interest through exchange-traded funds (ETFs) while Bitcoin struggles to maintain momentum.
Bitcoin suffered a sudden flash crash on Sunday after a whale sold 24,000 BTC worth $2.7 billion. The sell-off triggered $550 million in liquidations and briefly erased $100 billion from the crypto market before a partial recovery.
Despite its status as the pioneer and dominant force in the crypto space, Bitcoin is not without serious vulnerabilities. While bullish narratives often take center stage, the bear case outlines a range of risks—both structural and external—that could undermine its long-term viability.