Shares of two bitcoin-focused firms posted modest gains Wednesday, though both remain well below recent highs.
American Bitcoin Corp. (ABTC), co-founded by Eric Trump, who serves as chief strategy officer, added 416 BTC to its reserves in the week ended Dec. 8. The company, majority-owned by bitcoin miner Hut 8 (HUT), now holds 4,783 BTC, according to a press release.
ABTC’s Satoshis Per Share (SPS) metric rose to 507, marking a more than 17% increase in just over a month. SPS represents the amount of bitcoin allocated to each outstanding share. The stock was up slightly in early Wednesday trading but has yet to recover from a 50% flash crash on Dec. 2, triggered by the unlocking of pre-merger private placement shares.
ProCap Financial (BRR), led by Anthony Pompliano and recently completing its SPAC merger, added 49 BTC to reach a 5,000-coin total. The acquisition generated a realized loss that can offset future gains. “By using a tax-conscious strategy, we created real value for shareholders,” Pompliano said. BRR also gained modestly in early trading, though shares remain down over 60% in recent days.
According to BitcoinTreasuries.net, BRR and ABTC rank as the 21st and 22nd largest publicly traded bitcoin holders, respectively.
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