Trump brothers’ American Bitcoin snaps up $160 million in BTC, vaulting into top-25 public treasuries

American Bitcoin Corp., a Nasdaq-listed firm co-founded by Eric and Donald Trump Jr., announced the addition of 1,414 bitcoins, valued at over $160 million, to its reserves. This acquisition elevates the company's total holdings to 3,865 BTC (nearly $450 million as of October 24), positioning it within the top 25 public holders of the asset, ahead of OranjeBTC and behind Gemini Space Station, according to BitcoinTreasuries data. The firm, which debuted on Nasdaq in September and is majority-owned by Hut 8 Mining, plans to introduce a transparency metric called Satoshis per Share. Eric Trump stated that the team is "just getting warmed up," while Executive Chairman Asher Genoot noted that integrated mining operations help lower the average cost per bitcoin compared to peers who only purchase on the open market. Following the news, ABTC shares rose nearly 12% on Monday, though they remain below their initial September debut price.

(Source：The Block)