A Pair of the Most Prominent US Corporate Bitcoins 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 October 24. The company also introduced a new “Satoshi per Share” (SPS) metric, which provides shareholders with 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, bringing its total holding to 640,808 BTC – valued at approximately $71 billion at current prices. The strategy’s year-to-date Bitcoin yield is now 26%.
The strategy was the OG of publicly traded companies acquiring large amounts of Bitcoin, a model that is now being copied by many other companies, American Bitcoin being one of them.
American Bitcoin, the mining company formed by a merger between American Data Centers and Gryphon Digital Mining, an enterprise of President Donald Trump’s sons, listed on Nasdaq in September.
Digital asset treasury companies are facing intense scrutiny not only due to the recent downward pressure on the price of BTC, which has reduced the value of their holdings, but also because of strict regulatory oversight on the part of exchanges.
ABTC jumped more than 10% to $6.20 on Monday morning, helped by a surge in Bitcoin’s price, which reached $115,000 late Sunday. MSTR saw a slight gain of about 1.8% and traded just below $295.