Trump linked miner ABTC purchases $163M in BTC, balance tops $445M

american bitcoin just bought another 1,414 btc for about 163m…bringing total holdings to ~3,865 btc…roughly 445m. the company was co founded by eric trump…he’s the chief strategy officer…and donald trump jr

eric says they’re focused on increasing the bitcoin per share ratio…they think that’s the key metric for shareholder value. basically…keep stacking so there’s more btc backing each share

the stock listed on nasdaq on sept 3 under ticker abtc. first day was wild…got halted 5 times for volatility…finished up ~16%…and even touched ~85% intraday at one point. they completed the merger with gryphon digital mining the same day…not late august…and fwiw gryphon had already spiked big earlier in may on the merger news…then jumped again in late aug

origin story…hut 8 teamed up with the trump sons to launch this…contributing most of its mining operations…and ending up with around an 80% stake. so they’ve got both mining…and the balance sheet btc accumulation play going on

timing wise it’s…interesting. the trump family has been very open about big crypto profits this year…eric even told supporters it’s “probably more” than the 1b reported. on the flip side…it’s turned political…rep maxine waters blasted the cz pardon and trump’s crypto ties. worth separating that from abtc’s corporate actions…but the noise is def there

overall it’s microstrategy’s playbook…just with the trump name attached. more attention…more controversy…same thesis…hold more bitcoin on the balance sheet