American Bitcoin Lifts BTC Holdings to $500M as Bitcoin Slips Below $90,000

Core Insights - American Bitcoin Corp has increased its Bitcoin holdings by 261 BTC, bringing total reserves to 5,044 BTC, valued at over $450 million as Bitcoin trades near $89,700 [1] - The company ranks 21st on the Bitcoin 100 list of corporate holders, just behind Semler Scientific [1] - The firm is backed by Donald Trump Jr. and Eric Trump, who hold approximately 20% ownership, while Hut 8 Corp holds the majority stake [3] Company Performance - American Bitcoin Corp's shares experienced a slight increase in premarket trading but later fell by 4% as Bitcoin's price dropped to $85,600, with shares down about 64% over the past month [4] - The decline in stock price is attributed to the release of pre-merger private placement shares into the public market, which has negatively impacted price performance despite the growing Bitcoin treasury [5] Market Positioning - The company is part of several crypto ventures linked to the Trump family, which include the $TRUMP meme coin and World Liberty Financial, enhancing market visibility and access to capital [6] - American Bitcoin continues to position itself as a long-term Bitcoin holder, strategically accumulating reserves during market dips [6] Industry Context - Strategy, the largest corporate holder of Bitcoin, has also resumed buying, acquiring 10,645 BTC for $980 million, reinforcing institutional conviction in long-term Bitcoin accumulation [7]