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Trump-backed American Bitcoin increases its Bitcoin holdings to 5,044 BTC
Source: CryptoNewsNet Original Title: Trump-backed American Bitcoin increases its Bitcoin holdings to 5,044 BTC Original Link:
Overview
American Bitcoin Corp, a Bitcoin mining and accumulation company, has increased its Bitcoin holdings by 261 BTC, bringing its total holdings to 5,044 BTC.
Key Highlights
Market Position
Following this acquisition, American Bitcoin is approaching the top 20 corporate holders of Bitcoin. It currently trails Semler Scientific, which owns 5,048 BTC, by just 4 BTC.
Stock Performance
ABTC shares ticked up slightly in premarket trading following the announcement. However, the stock has faced headwinds in recent weeks, declining approximately 64% over the last month, weighed down by the release of pre-merger private placement shares on the public market.