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Eric Trump's American Bitcoin and Anthony Pompliano's ProCap Add to BTC Holdings
Source: CryptoNewsNet Original Title: Eric Trump’s American Bitcoin and Anthony Pompliano’s ProCap Add to BTC Holdings Original Link: American Bitcoin Corp. (ABTC), co-founded by Eric Trump, who now serves as its chief strategy officer, added 416 bitcoin to its reserve in the week ended Dec. 8.
The company, majority owned by bitcoin miner Hut 8 (HUT), now holds 4,783 BTC, according to a Wednesday press release.
ABTC’s benchmark metric Satoshis Per Share (SPS) rose to 507, up more than 17% in just over a month, said Trump. SPS represents the amount of bitcoin tied to each outstanding share.
ABTC stock is up marginally in early Wednesday trading, though has yet to recover from its 50% flash crash on Dec. 2 triggered by pre-merger private placement shares being unlocked.
ProCap Financial (BRR) — which last week completed its SPAC merger and is led by Anthony Pompliano — meanwhile, added a modest 49 bitcoin to its stack to reach the 5,000 coin level. The latest purchase also generated a realized loss that can offset future gains, according to a press release.