American Bitcoin Corp (ABTC) acquired an additional 54 bitcoin during Monday’s significant selloff, increasing its total holdings to 5,098 coins, valued at just under $450 million based on BTC’s current price of $87,600.
This positions the company, co-founded by Eric Trump, who acts as its chief strategy officer, within the top 20 of publicly traded bitcoin treasury firms, as reported by bitcointreasuries.net.
The Nasdaq-listed firm stated that its accumulated holdings were obtained via a mix of self-mining and targeted purchases, including bitcoin secured in custody or pledged under a miner purchase agreement with Bitmain.
The company also pointed out a 96.5% bitcoin yield since its debut on Nasdaq, with 533 satoshis per share as of Dec. 14. Bitcoin yield measures the percentage change in satoshis per share over time, while satoshis per share quantifies the amount of bitcoin attributable to each outstanding share.
Despite bitcoin’s rise on Tuesday, ABTC has seen a decline of 2.7% on the same day, continuing to struggle after an unexpected stock lock-up expiration two weeks ago. Shares have dropped nearly 60% since then.
