American Bitcoin Corp (ABTC) acquired another 54 bitcoins during Monday’s sharp sell-off, bringing its total stack to 5,098 coins worth just under $450 million based on BTC’s current price of $87,600.
That puts the company, co-founded by Eric Trump, who serves as its chief strategy officer, among the top 20 publicly traded bitcoin treasury firms, according to bitcointreasuries.net.
The Nasdaq-listed company said its accumulated holdings were acquired through a combination of self-mining and targeted purchases, including bitcoin held in escrow or pledged under a miner purchase agreement with Bitmain.
The company also highlighted a 96.5% bitcoin return since its Nasdaq debut, along with 533 satoshis per share as of December 14. Bitcoin performance tracks the percentage change in satoshis per share over time. While satoshis per share measure the number of bitcoins attributable to each share in circulation.
Despite bitcoin’s gains on Tuesday, ABTC fell another 2.7% on Tuesday, and continues to reel after an unexpected stock lock expiration two weeks ago. Shares are down nearly 60% since then.
