Eric Trump, co-founder and chief strategy officer of American Bitcoin Corp., has laid down a clear red line: the mining firm will sell Bitcoin only under conditions he described as 'beyond catastrophic.' In an interview published May 12, Trump effectively ruled out selling under any foreseeable market scenario, tying the company's hands to a long-term accumulation strategy. American Bitcoin holds more than 7,000 BTC and mines at a cost roughly 53% below the spot price — which sat around $82,000 at the time of the interview.
The 'Satoshis Per Share' Strategy
The logic is simple. American Bitcoin measures success by growing 'satoshis per share' — the amount of Bitcoin attributable to each outstanding share. Selling Bitcoin would directly dilute that metric. Trump's commitment means the company won't harvest gains even if prices spike, an approach that prioritizes stack size over short-term profit-taking. The strategy is a bet that Bitcoin's long-term appreciation outweighs any tactical advantage from selling into rallies.
How American Bitcoin Differs from Michael Saylor
Trump acknowledged Michael Saylor's role in popularizing corporate Bitcoin accumulation but drew a clear distinction. Saylor, whose firm MicroStrategy has been the most prominent corporate holder, has hinted at selling Bitcoin to fund dividends or other corporate needs. American Bitcoin's policy is stricter: no sales unless the world is literally falling apart. That positions the company as perhaps the most committed hodler among public Bitcoin miners — though its private status means less pressure from shareholders demanding returns.
Mining Efficiency and Holdings
American Bitcoin's cost advantage is a key enabler. Mining at roughly 47% of spot price (53% below) gives the firm a wide buffer against price drops. Even if Bitcoin were to crash, the company could likely keep mining profitably longer than less efficient peers. The 7,000+ BTC hoard — worth about $574 million at the May 12 price — gives it significant leverage if it ever did need to raise cash, though Trump's statement suggests that scenario is off the table unless conditions become truly dire.
The timing of the interview, just two weeks ago, underscores a moment when many miners face margin pressure and some have been forced to sell reserves. American Bitcoin is betting that patience, not sales, will define the winners.
