Eric Trump’s American Bitcoin jumps to 20th among public BTC treasury companies

AI Summary3 min read

TL;DR

American Bitcoin Corp (ABTC), co-founded by Eric Trump, added 54 BTC during a selloff, bringing its total holdings to 5,098 BTC worth ~$450M. This places ABTC among the top 20 public bitcoin treasury firms, though its stock remains down nearly 60% after a recent share unlock.

Key Takeaways

  • American Bitcoin Corp (ABTC) acquired 54 BTC during Monday's selloff, increasing its total holdings to 5,098 BTC worth approximately $450 million.
  • The company, co-founded by Eric Trump, now ranks among the top 20 publicly-traded bitcoin treasury firms globally.
  • ABTC's stock has declined nearly 60% following an unexpected stock lock-up expiration two weeks ago, despite bitcoin's recent price gains.
  • The company reported a 96.5% bitcoin yield since its Nasdaq debut and holds bitcoin through a combination of self-mining and targeted purchases.
  • Bitcoin's price held around $87,500 on Tuesday, with analysts suggesting potential rebalancing-led buying in January.
ABTC (TradingView)
ABTC (TradingView)

What to know:

  • American Bitcoin added 54 BTC to its stack during yesterday's selloff.
  • The company now holds 5,098 bitcoin worth just under $450 million at bitcoin's current price of $87,600.
  • ABTC stock continues to reel after the recent share unlock combined with bitcoin's tumbling price.
  • American Bitcoin added 54 BTC to its stack during yesterday's selloff.
  • The company now holds 5,098 bitcoin worth just under $450 million at bitcoin's current price of $87,600.
  • ABTC stock continues to reel after the recent share unlock combined with bitcoin's tumbling price.

American Bitcoin Corp (ABTC) acquired another 54 bitcoin during Monday's sharp selloff, bringing its total stack to 5,098 coins worth just less than $450 million based on BTC's current price of $87,600.

That places the company, co-founded by Eric Trump, who serves as its chief strategy officer, in the top 20 of publicly-traded bitcoin treasury firms, according to bitcointreasuries.net.

The Nasdaq listed firm said its accumulated holdings were acquired through a combination of self mining and targeted purchases, including bitcoin held in custody or pledged under a miner purchase agreement with Bitmain.

The company also highlighted a 96.5% bitcoin yield since its Nasdaq debut, alongside 533 satoshis per share as of Dec. 14. Bitcoin yield tracks the percentage change in satoshis per share over time. While satoshis per share measures the amount of bitcoin attributable to each outstanding share.

Despite bitcoin's gains on Tuesday, ABTC is down another 2.7% Tuesday, continuing to reel after an unexpected stock lock-up expiration two weeks ago. Shares are down nearly 60% since.

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