A pair of the most prominent U.S. corporate bitcoin holders expanded their positions on Monday.
American Bitcoin Corp. (ABTC) announced the purchase of 1,414 BTC, bringing its total holdings to 3,865 BTC as of Oct. 24. The company also introduced a new “Satoshis Per Share” (SPS) metric, offering shareholders clearer insight into their indirect Bitcoin exposure through equity ownership.
Meanwhile, Michael Saylor’s Strategy (MSTR) disclosed the acquisition of 390 BTC for $43.4 million at an average price of $111,053 per coin, pushing its total holdings to 640,808 BTC — worth roughly $71 billion at current prices. Strategy’s year-to-date bitcoin yield now stands at 26%.
Strategy was the OG of publicly traded firms acquiring large amounts of bitcoin, a model now being copied by scores of other companies, American Bitcoin being one of them.
Formed from a merger between President Donald Trump’s sons’ venture American Data Centers and Gryphon Digital Mining, mining company American Bitcoin listed on the Nasdaq in September.
Digital Asset Treasury Companies are facing intense scrutiny not just due to recent downward pressure on BTC’s price, which erodes the value of their holdings, but because of scrutiny sterner regulatory oversight from exchanges.
ABTC jumped over 10% to $6.20 on Monday morning, assisted by an uptick in bitcoin’s price which regained $115,000 late on Sunday. MSTR saw a more modest gain of around 1.8% to trade just below $295.