Is this another antic or crypto adoption ?

[Firstfrost]

Apparently, a new mining crypto firm, American Bitcoin backed by Donald Trump Jr and Eric Trump debuted on Nasdaq. The mining firm was a product of a merger with Gryphon Digital Mining  with majority of the voting power; about 80% held by Hut 8, a Bitcoin mining company in Canada while The Trumps reportedly hold approximately 20%. Though this was worth about $2.6B when the value soared before scaling back to around $1.5B by the end of the day.

I see the firm is clearly aiming for a Bitcoin mining and treasury system but could this actually help with broader Bitcoin adoption or this is just another political antics ?

[rat03gopoh]

Keep in mind that Trump has a strong business background, so his economic motive is clearly his desire for long-term profits, as bitcoin increasingly emerges as the future of business. Political motives? Perhaps, he's strengthening his image as a modern leader, pro-bitcoin, and so on. This is a form of social branding.

I don't know if this will actually help Bitcoin adoption, but the problem is that Trump prefers to have everything under control.

[passwordnow]

They are taking advantage of their position while they're in the government. While for a bitcoin enthusiasts, this is a good one to look at. But it's all about their personal interest and hopefully, we get to see more impact on it for the price of Bitcoin and so everyone gets their fair share.

I see the firm is clearly aiming for a Bitcoin mining and treasury system but could this actually help with broader Bitcoin adoption or this is just another political antics ?

Let's just put a grain of salt in there and all that you've said could be part of it. But I think mainly they are aiming for the treasury of it.