American Bitcoin Corp. has added 416 BTC, lifting its Bitcoin holdings to 4,783 BTC. The company pegged the position at about $440 million at current prices. The purchase places American Bitcoin narrowly ahead of GameStop in reported corporate holdings.
American Bitcoin Edges GameStop in BTC Holdings
According to BitcoinTreasuries, GameStop Corp is listed at 4,710 BTC with a stated value of roughly $434 million. That leaves American Bitcoin in front by 73 BTC. Using the valuations given, the lead amounts to about $6.7 million.
The company’s leadership framed the move as part of a fast accumulation plan. Eric Trump, co-founder and chief strategy officer, said the firm’s increases strategic reserve continues to scale rapidly. He said “Satoshis Per Share (SPS)” rose more than 17% in just over a month and pointed to the 416 BTC addition as recent proof of execution.
President Trump’s son also said American Bitcoin has built one of the largest and fastest growing BTC accumulators in the three months since listing on Nasdaq. He cited a cost structure and margin profile that he said supports long-term value creation. Eric said the company intends to build on that momentum in the months ahead. In November, Eric Trump also said, “Now is a great time to buy Bitcoin.”
ABTC shares closed about 1.49% higher on Dec. 9, based on the data. Recent trading has still faced pressure after pre-merger private placement shares became eligible for public trading.
Strive Targets BTC Buys With $500 Million Offering
Strive Asset Management has declared new financing of Bitcoin purchase plans. The company, which is linked to Vivek Ramaswamy, announced the sale of a $500 million worth of preferred stock where the funds are to be used in purchasing BTC.
The platform further indicated that net proceeds can be utilized in general corporate purposes such as working capital and Bitcoin-related products. The company also stated that it can also finance further investment.
According to the data in BitcoinTreasuries, the firm reported to have 7,525 BTC, which would be worth approximately $695.93 million. The firm is the 14th-largest corporate holder of BTC. Strive also announced that it will acquire income-generating assets and finance acquisitions of companies and technologies without specifying any targets.
Previous remarks defined a further runway of the Bitcoin strategy of Strive. The company initially announced that it was going to buy BTC as a result of a merger in May. It subsequently outlined intentions to purchase 75,000 BTC of claims to the bankruptcy of Mt. Gox exchange.
Source: https://coingape.com/american-bitcoin-tops-gamestop-holdings-reach-4783-btc/
