Eric Trump’s American Bitcoin and Anthony Pompliano’s ProCap Increase BTC Holdings

Shares of two bitcoin-focused firms posted modest gains Wednesday, though both remain sharply lower over the past several days.

American Bitcoin Corp. (ABTC), co-founded by Eric Trump—who now serves as chief strategy officer—added 416 BTC to its reserves in the week ended Dec. 8. Majority-owned by bitcoin miner Hut 8 (HUT), ABTC 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% over just over a month. SPS represents the amount of bitcoin allocated to each outstanding share, Trump noted. The stock is up slightly in early trading Wednesday but has not yet recovered from the 50% flash crash on Dec. 2, triggered by the unlocking of pre-merger private placement shares.

ProCap Financial (BRR), which completed its SPAC merger last week under CEO Anthony Pompliano, added 49 BTC to reach a 5,000-coin total. The purchase generated a realized loss that can offset future gains. “By using a tax-conscious optimization strategy, we created real value for shareholders,” Pompliano said. BRR is also up modestly Wednesday, though shares have fallen more than 60% over recent days.

According to BitcoinTreasuries.net, BRR and ABTC rank as the 21st and 22nd largest publicly traded companies holding bitcoin.

  • Related Posts

    BTC, ETH, SOL, and ADA Retreat Ahead of Fed Meeting Anticipating Rate Cuts

    Bitcoin Briefly Tops $94K Before Pullback Ahead of Key Fed Decision Bitcoin briefly surged above $94,000 on Tuesday before retreating toward $92,500 during Wednesday’s Asian morning session. The move revived…

    Continue reading
    Bitcoin Stabilizes Around $92K as Selling Eases, Yet Buying Pressure Remains Weak

    Bitcoin Stabilizes Amid ETF Inflows, but Market Lacks Conviction for Sustained Rally ETF inflows have finally turned positive, yet weak on-chain activity, defensive derivatives positioning, and a negative spot CVD…

    Continue reading