Important points
- American Bitcoin Corp acquired 416 BTC, increasing its total holdings to 4,783 BTC.
- The acquisition announcement mentions President Trump's support, emphasizing the growing support.
American Bitcoin Corp purchased 416 Bitcoins, bringing its total holdings to more than 4,783 Bitcoins, worth more than $440 million at current market prices, according to a Wednesday press release.
As noted in the release, the company's Satoshi per share metric has risen more than 17% in the past month. The team said the rapid expansion of reserves shows the strength of the accumulation model since the Nasdaq listing.
“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 enables long-term value creation,” said Eric Trump, co-founder of American Bitcoin. “We remain focused on advancing our strategy and building on this momentum in the coming months.”
ABTC stock closed up about 1.5% on Tuesday. The stock price has fallen in recent weeks after the pre-merger privately placed shares qualified for listing.
