The Trump family is now establishing itself as a key player in the cryptocurrency ecosystem. This multifaceted strategy has just involved the purchase of $160 million in BTC for its mining and treasury company, American Bitcoin.
American Bitcoin buys an additional 1,414 BTC
Donald Trump’s pro-crypto presidential campaign has triggered a proliferation of family projects more or less directly related to this ecosystem. One of these is the mining company American Bitcoin, which was recently listed on the Nasdaq in early September.
The company was formed from the merger between Trump’s sons’ company American Data Centers and miner Hut 8 in March, causing ABTC shares to jump more than 200% before stabilizing at around $6 on average.
However, this company’s activity is not limited to mining BTC. It also involves accumulating Bitcoin as part of a cash strategy that involves regular purchases.
An additional 1,414 BTC have just been added to this reserve, acquired for $160 million. As a result, American Bitcoin’s cash reserves now total 3,865 BTC, estimated at $442.5 million at the current BTC price.
A return associated with the “Satoshis Per Share” ratio
According to Eric Trump’s statement on the X network, this new purchase is just a warm-up. He says he is “incredibly excited about ABTC” and what they are building with his brother, Donald Trump Jr.
This enthusiasm is also shared by Asher Genoot, the company’s executive chairman, who explains how “by producing BTC directly, [they can] reduce [their] average cost per Bitcoin to gain an advantage over entities that purchase exclusively on the market.” This is especially true when applying a “Satoshis Per Share” (SPS) calculation.
As part of its ongoing commitment to providing investors with greater visibility into shareholder value, American Bitcoin will now publish periodic updates of the “Satoshis Per Share” (SPS) ratio, an indicator representing the amount of Bitcoin attributable to each outstanding common share of the company.
This new unit of measurement allows ABTC shareholders to gain insight into their indirect ownership of BTC, with the ratio currently set at 418, representing a 52% increase since September 1, according to details in the press release.
With this new purchase of BTC, American Bitcoin announces its official entry into the Top 25 largest publicly traded companies holding Bitcoin. A position already taken over by Gemini Space Station and its 4,002 BTC, according to the Bitcoin Treasuries website ranking.
