Trump Sons’ Bitcoin Treasury Adds $160 Million in BTC to Its Reserve
The Trump family has now established itself as a key player in the cryptocurrency ecosystem. A multi-pronged strategy that just included the purchase of $160 million in BTC for his American bitcoin mining and treasury company.
US Bitcoin buys another 1,414 BTC
Donald Trump’s pro-crypto presidential campaign launched the proliferation of family projects more or less directly linked to this ecosystem. One of them concerns the mining company American Bitcoin, recently listed on Nasdaq in early September.
The company emerged from a merger between Trump’s sons’ company American Data Centers and miner Hut 8 last March, which will see ABTC shares soar more than 200% before settling at an average of around $6.
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American Bitcoin Company ABTC Stock Price
However, the activity of this company is not limited to BTC mining. In fact, it is also a question of accumulating Bitcoin as part of a cash flow strategy that involves regular purchases.
A reserve to which another 1,414 BTC has just been added, for an amount of $160 million. As a result, the US Bitcoin Treasury now holds a total of 3,865 BTC worth $442.5 million at today’s BTC price.
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The yield associated with the “Satoshi per share” ratio.
According to Eric Trump on the X Network, this new shopping operation is just a simple warm-up. It actually says ” incredibly excited about ABTC » and what they are building with his brother Donald Trump Jr.
Asher Genoot, the company’s executive president, also expressed enthusiasm as he explains how “ by producing BTC directly (they can) reduce (their) average cost per bitcoin to gain an advantage over entities that buy exclusively from the market “. Even more so by using a calculation of the type ” Satoshi per share » (SPS).
🗞️ US Bitcoin, Trump sons’ mining company, surges after entering Nasdaq
As part of its ongoing commitment to provide investors with a better view of shareholder value, American Bitcoin will now publish regular updates of the “Satoshis Per Share” (SPS) ratio, a metric representing the amount of Bitcoins for each outstanding share of the company’s common stock.
This new unit of measurement allows ABTC share holders to gain insight into their indirect BTC ownership, with the rate currently set at 418 showing a 52% increase since September 1st, according to the press release details.
“Satoshi per share” (SPS) calculation chart.
With this new BTC purchase, American Bitcoin announces its official entry into the Top 25 largest publicly traded companies holding Bitcoin. A place already taken by the Gemini space station and its 4,002 BTC, according to the Bitcoin Treasuries website.
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Sources: Eric Trump, ABTC
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Passionate about cryptocurrencies and the principle of decentralization for many years, I want to share this experience with as many people as possible. I also try to decipher the problems associated with the development of this ecosystem within traditional finance.
Hugh Bernard
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