American Bitcoin Corp. (NASDAQ: ABTC) co-founder Eric Trump announced a significant milestone for the company on social media, highlighting its rapid accumulation of Bitcoin since its debut on Wall Street last year. Under the banner of “Building America’s Bitcoin Infrastructure,” Trump shared his pride in the firm’s performance, stating that it has swiftly outperformed numerous competitors to become the 18th-largest holder of Bitcoin within just five months of its public offering.
As of now, American Bitcoin holds 5,843 BTC, valued at approximately $520 million, placing it ahead of notable companies like GameStop Corp. (NYSE: GME) and Gemini Space Station Inc. (NASDAQ: GEMI). In his post, Trump emphasized that the company is at the forefront of establishing Bitcoin infrastructure in the United States, boasting aspirations to surpass Galaxy Digital Inc. (NASDAQ: GLXY), which currently ranks as the 17th-largest corporate holder of Bitcoin.
Despite the enthusiasm surrounding its Bitcoin treasury, the company has faced challenges in the stock market. American Bitcoin, predominantly owned by Hut 8 Corp. (NASDAQ: HUT), completed an all-stock merger and officially began trading on Nasdaq on September 3, 2025. It operates not only as a treasury company but also engages in in-house Bitcoin mining, distinguishing itself from other Bitcoin treasury firms.
However, the stock has plummeted roughly 76% since its launch. Factors contributing to this decline include the broader downturn in Bitcoin prices and the expiration of a lock-up period that allowed early investors to offload their shares.
In terms of future outlook, analysts have taken notice of ABTC’s potential. Roth Capital analyst Darren Aftahi has initiated coverage with a “Buy” rating and set a price target of $4. Additionally, technical indicators like the Moving Average Convergence Divergence signal have suggested a “Buy” for the stock, according to TradingView data.
As of the latest reports, Bitcoin is trading at $89,097.07, showing a modest increase of 0.48% over the past 24 hours. Meanwhile, shares of American Bitcoin experienced a 0.63% decline in after-hours trading, after closing the regular session 5.30% higher at $1.590. The stock continues to exhibit a downward trend over short, medium, and long-term forecasts, as indicated by Benzinga’s Edge Stock Rankings.
