coindesk.com
American Bitcoin Corp (ABTC) acquired another 54 bitcoin during Monday's sharp selloff, bringing its total stack to 5,098 coins worth just less than $450 million based on BTC's current price of $87,600.
That places the company, co-founded by Eric Trump, who serves as its chief strategy officer, in the top 20 of publicly-traded bitcoin treasury firms, according to bitcointreasuries.net.
The Nasdaq listed firm said its accumulated holdings were acquired through a combination of self mining and targeted purchases, including bitcoin held in custody or pledged under a miner purchase agreement with Bitmain.
The company also highlighted a 96.5% bitcoin yield since its Nasdaq debut, alongside 533 satoshis per share as of Dec. 14. Bitcoin yield tracks the percentage change in satoshis per share over time. While satoshis per share measures the amount of bitcoin attributable to each outstanding share.
Despite bitcoin's gains on Tuesday, ABTC is down another 2.7% Tuesday, continuing to reel after an unexpected stock lock-up expiration two weeks ago. Shares are down nearly 60% since.