00:00It's Benzinga bringing Wall Street to Main Street
00:02American Bitcoin co-founder Trump criticized a Forbes report describing the company as an
00:07arbitrage play targeting MAGA supporters. The president's son blamed the publication's
00:13ownership by Hong Kong-based integrated whale media investments for the coverage.
00:18Forbes didn't immediately return Benzinga's request for comment. Trump said the company
00:23has become the 16th largest corporate Bitcoin holder with a 7,000 BTC treasury valued at
00:29$539 million and is scaling its mining operations. The report said the company burned $500 million
00:36in shareholder value since going public, while Trump's personal wealth rose from $190 million
00:42to $280 million. The report also said all-in mining costs reached about $92,000 per Bitcoin.
00:49Shares have fallen 85% since debut, but analysts issued buy ratings with a $4 price target.
00:55For all things money, visit Benzinga.com.
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