American Bitcoin Buys 1,414 BTC, Trump Memecoin Rises
The official Trump (TRUMP) memecoin rose over 20% on Monday. This increase followed a statement from American Bitcoin (ABTC), a digital asset treasury. ABTC said it bought 1,414 BTC last week. The purchase cost over $160 million.
As of October 24, ABTC holds 3,865 BTC. This is worth more than $440 million based on Bitcoin’s current price. American Bitcoin was co-founded by Donald Trump Jr. and Eric Trump.
American Bitcoin Is Among Top 30 Bitcoin Treasuries
The recent Bitcoin purchase puts American Bitcoin at 26th place among public Bitcoin holding companies. Data from BitcoinTreasuries shows it far trails Strategy, which owns 640,808 BTC.
American Bitcoin introduced a new metric called Satoshi Per Share (SPS). This helps investors understand their Bitcoin ownership based on the company shares they hold. Eric Trump, ABTC’s co-founder, said, “We believe one of the most important measures of success for a Bitcoin accumulation platform is how much Bitcoin backs each share.”
The company also runs Bitcoin mining operations. Asher Genoot, ABTC’s executive chairman, said mining helps lower their average cost per Bitcoin. This creates a cost edge compared to buyers who purchase Bitcoin only on the open market.
American Bitcoin was formed earlier in 2025. The Trump brothers started it by merging with Canadian mining firm Hut 8 Corp, which still owns most of the shares. Last month, ABTC debuted on Nasdaq after merging with public firm Gryphon Digital Mining.
ABTC’s stock price rose 7% on Monday at the time of this report.
TRUMP Price Outlook: Resistance Near 100-day EMA
TRUMP increased over 20% on Monday, its first major rise since the crypto market drop on October 10. The memecoin now faces resistance at the 100-day Exponential Moving Average (EMA). TRUMP has often failed to rise above this level since April.
If TRUMP breaks this resistance, the price could reach $9.61. On the downside, support is near $7.23.
The Relative Strength Index (RSI) and Stochastic Oscillator (Stoch) are above neutral levels. This shows strong bullish momentum for TRUMP.
