The company said the accumulation was made through Bitcoin mining and strategic purchases.
American Bitcoin Corp. (ABTC) announced Wednesday that it added 416 Bitcoin (BTC) to its treasury over the past week, bringing its total treasury holdings to roughly 4,783 BTC.
The company, backed by Eric Trump and Donald Trump Jr., said the accumulation was made through Bitcoin mining and strategic purchases, including Bitcoin held in custody or pledged for miner purchases under an agreement with BITMAIN.
ABTC’s stock moved around 1% higher in pre-market trade, amid broader weakness in the market ahead of the Federal Reserve’s rate announcement later in the day. On Stocktwits, retail sentiment around the company dipped to ‘bullish’ from ‘extremely bullish’ territory over the past day. Chatter fell to ‘high’ from ‘extremely high’ levels.
"With our Bitcoin reserve now at 4,783, we continue to scale at an exceptional pace. SPS [Satoshi Per Share] grew more than 17% in just over a month, and we added 416 Bitcoin in the past week—evidence of the strength and efficiency of our strategy," said Eric Trump, Co-founder and Chief Strategy Officer of ABTC.
ABTC’s continued accumulation comes amid volatility in broader cryptocurrency markets ahead of the outcome of the Federal Open Market Committee (FOMC) meeting. Bitcoin’s price was trading at around $91,900 in early-morning trade, up 1.4% over the last 24 hours. On Stocktwits, retail sentiment around the apex cryptocurrency remained in ‘neutral’ territory over the past day, accompanied by ‘low’ levels of chatter.
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