Eric Trump's American Bitcoin acquires 363 BTC
Key Takeaways
- American Bitcoin acquired 363 more BTC, bringing its total holdings to 4,367 BTC.
- The company is continuing its strategy of accumulating Bitcoin as a digital asset.
American Bitcoin Corp (ABTC), a Bitcoin-focused firm backed by Eric Trump and Donald Trump Jr., has purchased an additional 363 BTC, according to a Thursday statement.
The company continues its strategic accumulation of the digital asset, now holding 4,367 BTC worth around $405 million at current market prices.
American Bitcoin recently experienced nearly a 40% drop in stock value as a lock-up period ended, allowing early investors to sell their shares. Despite the market reaction, company fundamentals are reportedly strong, according to Eric Trump, who remains invested in the firm.
After a steep selloff earlier in the week, the company’s stock rebounded on Wednesday, closing up 9%. The stock is still off 44% over the five-day stretch, Yahoo Finance data shows.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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