American Bitcoin Corp (ABTC) acquired an additional 54 bitcoins during Monday’s strong sell-off, bringing its total stack to 5,098 coins worth just under $450 million based on BTC’s current price of $87,600.
This places the company, co-founded by Eric Trump, who serves as its chief strategy officer, in the top 20 publicly traded Bitcoin treasury companies, according to bitcointreasuries.net.
The Nasdaq-listed company said its accumulated holdings were acquired through a combination of self-mining and targeted purchases, including bitcoins held in custody or pledged as part of a miner purchase agreement with Bitmain.
The company also highlighted a 96.5% Bitcoin return since its debut on Nasdaq, as well as 533 satoshis per share as of December 14. Bitcoin yield tracks the percentage change in satoshis per share over time. Whereas satoshis per share measures the amount of bitcoin attributable to each share in circulation.
Despite Bitcoin’s gains on Tuesday, ABTC is still down 2.7% on Tuesday, continuing to falter after the stock’s unexpected expiration of the lockup two weeks ago. Shares have fallen nearly 60% since then.
