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American Bitcoin has 3,865 BTC
In a recent announcement, the company revealed its latest Bitcoin acquisition, bringing its total holdings to 3,865 assets worth approximately $446 million. The 1,414 BTC ($163 million) was a major driver for the bulls in the past 24 hours, with the company describing it as strategic buying and mining rewards.
American Bitcoin is backed by President Trump’s sons, Eric and Donald Jr, two of the leading voices in favor of cryptocurrencies in the last 12 months. According to the announcement, the company’s Satoshi per share (SPS) is at 418, an increase of 52% since September 1. Going further, the company committed to disclosing shareholder values, as well as SPS, to give insight into the direction of the company.
The recent acquisitions follow previous commitments in its expansion roadmap. The company initially had 500 BTC and added 1,726 BTC during July and August. At the time, those purchases were worth about $205 million. American Bitcoin was formed when Eric and Donald Trump Jr merged their separate entity with Canadian mining company Hut 8.
The company plans to expand its holdings through profitable strategies linked to mining. Its objective is to reduce the cost above the market and attract key investors in the long term. For Eric Trump, the most important factor of a stablecoin company is the amount of BTC backing each share, which is reflected in the company’s transparent regular updates.
““What sets US Bitcoin apart from most traditional Bitcoin treasury vehicles is our integrated mining operations.” said Asher Genoot, CEO of American Bitcoin. “By producing Bitcoin directly, we can reduce our average cost per Bitcoin to create a cost advantage over vehicles that purchase exclusively on the open market. That structural advantage allows us to compound the value of Bitcoin per share more efficiently for our investors.”
Cryptocurrency bulls have been the biggest beneficiaries of digital asset acquisition companies in recent months. These inflows pushed the price of Bitcoin to an all-time high above $126,000 before a correction to current levels. US Bitcoin shares hold up 5% after soaring more than 11% following the announcement.
