Trump-Backed American Bitcoin Buys $30M Worth of BTC

American Bitcoin stock price jumped by over 6% in the premarket session as BTC rebounded and as the company announced its latest accumulation. ABTC reached a high of $1.90, resulting in a market capitalization of over $1.65 billion.

American Bitcoin Continues BTC Accumulation

American Bitcoin, a company associated with Donald Trump’s children, continued its accumulation last week. In a statement, the company announced that it had purchased 329 coins, bringing its total reserves to 5,247 coins, currently valued at over $482 million.

The company has been accumulating these coins since April last year when it started with 3 coins. It has now attained a Bitcoin yield of 105% since its public listing in September last year. This metric looks at the change in its Bitcoin per share from the beginning to the end of a period.

American Bitcoin differs from other Bitcoin treasury companies, such as Metaplanet and Michael Saylor’s strategy. Its main difference is that it mostly uses its Bitcoin mining operations to accumulate its coins.

It inherited and then expanded Hut 8 Mining operations. Its expansion saw it boost its hash rate to 24 EH/s, a trend it hopes will continue in the near term. This approach likely explains why it has retained a higher premium than other treasury companies. For example, Metaplanet and Strategy’s mNAV have dropped below 1 as their dilution has continued.

ABTC’s continued accumulation has made it one of the biggest Bitcoin holders in the world. Bitcoin Treasury data shows that it is now the 19th holder among the publicly traded companies.

ABTC Stock Has Crashed Since Its Debut

American Bitcoin stock price has crashed in the past few months, mirroring the performance of other treasury firms like Strategy, MicroCloud Hologram, and Semler Scientific.

Most of its decline happened on December 2nd when it plummeted by over 40% in a single day. Eric Trump attributed the crash to the fact that early investors started exercising their options to cash in on their profits for the first time since the company went public through a SPAC merger.

ABTC stock’s crash was also because of the recent Bitcoin price action. After rising to a record high of $126,300 in October, Bitcoin experienced a freefall, dropping to a low of $80,350 in November of last year, representing a 36% decline.

Historically, Bitcoin treasury companies often retreat when BTC is in a freefall as this normally reduces the value of its holdings. For example, the current American Bitcoin hoard would be worth over $685 million if Bitcoin remained at its all-time high.

American Bitcoin also plunged as investors started to dump Digital Asset Treasury (DAT) companies. Strategy, the OG of the industry, dropped by over 40% in 2025, making it the worst laggard in the Nasdaq 100 Index. Similarly, Metaplanet was one of the worst-performing companies in Japan.

The other main reason for the sell-off was an announcement by MSCI that it may remove DAT companies from its indices. Such a move would remove companies like MicroStrategy and prevent fund managers from adding American Bitcoin in their ETFs.

American Bitcoin Stock Formed a Double-Top Pattern Before the Crash

Technical analysis also explains why the ABTC stop price crashed. As the chart below shows, the stock formed the highly bearish double-top pattern at $14.66 and the neckline at $3.70 before the crash. If has already moved below the neckline and is on a path towards becoming a penny stock.

Looking ahead, the stock will react to the performance of the Bitcoin price. A BTC rebound may prompt more investors to return to treasury companies, driving its stock significantly higher, potentially to the resistance level at $3.70.