American Bitcoin Corp acquires 416 BTC, boosting holdings to 4,783 BTC
Key Takeaways
- American Bitcoin Corp acquired 416 BTC, raising its total holdings to 4,783 BTC.
- The acquisition announcement notes backing from Trump, highlighting growing support.
American Bitcoin Corp purchased 416 Bitcoin, bringing its total holdings to more than 4,783 Bitcoin, valued at over $440 million at current market prices, according to a Wednesday press release.
The company’s Satoshis Per Share metric rose more than 17% over the past month, as noted in the release. The team said the rapid reserve expansion demonstrates the strength of its accumulation model since listing on Nasdaq.
“In the three months since we listed on Nasdaq, we have built one of the largest and fastest growing Bitcoin accumulators, supported by a cost structure and margin profile that positions us for long-term value creation,” American Bitcoin’s co-founder Eric Trump stated. “We remain laser-focused on advancing our strategy and building on this momentum in the months ahead.”
ABTC shares closed up around 1.5% on Tuesday. The stock has been under pressure in recent weeks after its pre-merger private placement shares became eligible for public trading.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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