Eric Trump's American Bitcoin and Anthony Pompliano's ProCap Increase Bitcoin Holdings
American Bitcoin (ABTC), a company co-founded by Eric Trump who serves as its chief strategy officer, added 416 BTC in the week ended December 8, bringing its total holdings to 4,783 BTC. ABTC is majority owned by Hut 8 and its Satoshis Per Share rose to 507, marking an increase of over 17% in just over a month. ABTC stock experienced a modest rise in early trading after a 50% flash crash on December 2 linked to pre-merger private placement shares unlocking.
ProCap Financial (BRR), led by Anthony Pompliano, also increased its bitcoin holdings by 49 BTC, reaching a total of 5,000 BTC. The SPAC merger for ProCap was completed last week. Despite a realized loss reported by BRR to offset future gains, the company is up modestly in early trading but has declined over 60% in recent days. Pompliano commented that the tax-conscious optimization strategy implemented by BRR created value for shareholders.
According to bitcointreasuries.net, BRR and ABTC rank as the 21st and 22nd largest publicly-traded bitcoin holders, respectively.
