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Eric Trump Says 'Stacking Continues' as American Bitcoin Amasses 8,000 BTC
$American Bitcoin Corp.(ABTC)$ co-founder Eric Trump celebrated on Tuesday after the company surpassed 8,000 Bitcoin in its corporate treasury holdings.
Trump shared this in an X post, adding that the firm achieved a 52% mining profit margin in the first quarter and maintained “one of the lowest” Selling, General, and Administrative ratios—a measure of a company’s overhead costs relative to its total revenue—in the industry.
“The stacking continues,” Trump said. “Huge congrats to the incredible ABTC team! Onwards we go!”
American Bitcoin currently holds 8,000 BTC, worth approximately $504 million. This positions the company as the 16th-largest corporate Bitcoin holder, surpassing firms including Galaxy Digital and Gemini Space Station, according to bitcointreasuries.net.
Bitcoin Falls, Ethereum, XRP, Dogecoin Dip as US Strikes Iran
Leading cryptocurrencies and stocks fell on Tuesday after U.S. strikes on Iran and the revocation of the oil sanctions waiver rattled investors.
Bitcoin fell below $63,000; Ethereum followed a similar trajectory, spiking to $1,800 before facing a sharp rejection back to the mid-$1,750 region. XRP and Dogecoin also traded in the red.
The slide followed the U.S. military launching a wave of strikes against Iran following attacks on commercial shipping in the Strait of Hormuz. The Treasury Department also revoked the sanctions waiver on Iranian oil exports, deeming Iran’s action “wholly unacceptable.”
Ctrl Wallet Winds Down as Crypto Project Shutdowns Mount in 2026
Ctrl Wallet will permanently shut down on August 3, 2026, disabling transfers, swaps, and in-app activity.
The company announced the closure on July 7 and pulled the app from major stores the same day. Anyone who has already installed it can keep every feature until August 2.
Ctrl says the wallet stays fully operational until August 2. Until that date, holders can continue normal use, including sending, receiving, and swapping tokens, as well as exporting their recovery phrase.
Bitcoin Bottom 'Likely Already In,' $120,000 Is the Year-End Target, Strive CEO Says
Strive Asset Management CEO Matt Cole said at BTC Prague that Bitcoin is likely bottoming around the 200-week moving average and projects a base case of $80,000 to $120,000 by year-end.
When Strategy Inc. sold 32 Bitcoin in May, Strive bought the same amount that week, Cole told Cointelegraph in an interview published on Monday.
Cole said it was partially deliberate, with Bitcoin down significantly that week and 32 coins matching what Strive planned to buy anyway. He publicly told Saylor those Bitcoin will be more expensive to repurchase.
Bitcoin & Ethereum Spot ETF Flow
The overall net inflow of the US Bitcoin spot ETF on Tuesday was $21.44 million. The total net asset value of Bitcoin spot ETFs is $77.26 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.05%.
The Bitcoin spot ETF with the highest net inflow on July 7 was iShares Bitcoin Trust, with a net inflow of $54.8 million, according to SoSoValue.
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