American Bitcoin Boosts Holdings After Crypto Recovery
Bitcoin (BTC) treasuries are showing new buying activity after a small price rebound. American Bitcoin (ABTC), run by the Trump brothers, bought 416 BTC since December 2. This added about $38.5 million to their BTC reserve, based on current prices.
American Bitcoin now holds 4,783 BTC as of December 8. This makes it the 22nd largest Bitcoin treasury, just behind ProCap Financial. According to Bitcoin Treasuries data, their Satoshi Per Share (SPS) rose by 17.3% in one month to 507. SPS measures how much BTC each stock share represents.
Eric Trump, co-founder and chief strategy officer of American Bitcoin, said in a statement on Wednesday: “In three months since listing on Nasdaq, we built one of the largest and fastest growing Bitcoin accumulators. Our cost and margin structure supports long-term value creation. We will continue advancing our strategy and momentum.”
Strive Files $500 Million Bitcoin Offering
Vivek Ramaswamy’s Strive announced a $500 million at-the-market offering. On Tuesday, Strive filed a prospectus with the SEC. The company works with Cantor Fitzgerald, Barclays, and Clear Street to sell its Variable Rate Series A Perpetual Stock (SATA).
Strive plans to use the funds for general corporate needs, including buying Bitcoin and related products. As of November 7, Strive held 7,525 BTC.
Strategy Acquires 10,624 BTC, Holding Largest Treasury
Strategy reported buying 10,624 BTC last week for about $962.7 million. This is their biggest purchase since July. The company now holds 660,624 BTC, making it the largest corporate Bitcoin treasury.
This buying trend comes after their stock prices fell for months. Their market cap-to-net asset value (mNAV) ratios dropped significantly.
Bitcoin trades near $92,500, down 0.7% in the last 24 hours at the time of writing.
