Eric Trump Says American Bitcoin Is 'Leading The Charge' In BTC Accumulation — But Company's Stock Has Cratered 75% Since Debut

Benzinga12:14

American Bitcoin Corp. (NASDAQ:ABTC) co-founder Eric Trump celebrated on Tuesday the company’s sprint in Bitcoin (CRYPTO: BTC) accumulation since its Wall Street debut last year.‘Building America's ...

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company after company” to become the 18th-largest Bitcoin treasury, within five months of going public.As of this writing, American Bitcoin holds 5,843 BTC, worth $520 million, surpassing companies such as GameStop Corp. (NYSE:GME) and Gemini Space Station Inc. (NASDAQ:GEMI).“ABTC is leading the charge, building America's Bitcoin infrastructure faster than anyone,” Trump said.\n\nTrump added that the company's next target is to surpass Galaxy Digital Inc. (NASDAQ:GLXY), currently the 17th-largest corporate holder of Bitcoin.Michael Saylor’s Strategy Inc. (NASDAQ:MSTR) leads the pack with a staggering $63 billion worth of Bitcoin on its balance sheet.The Stock Is StrugglingAmerican Bitcoin, a majority-owned subsidiary of Hut 8 Corp. (NASDAQ:HUT), completed its all-stock merger and began trading on Nasdaq on Sept.3, 2025. It operates as a hybrid Bitcoin mining and treasury company that generates fresh BTC via in-house mining, unlike other BTC treasury firms.However, things haven’t exactly been hunky-dory.The stock has tumbled roughly 76% since launch, in part due to Bitcoin's decline and the expiration of ABTC’s lock-up period, which enabled early investors to sell their shares and realize profits.What Analysts See In ABTC’s Future?Notably, Roth Capital analyst Darren Aftahi initiated coverage of the stock with a “Buy” rating and set a price target of $4.Meanwhile, the Moving Average Convergence Divergence indicator, which compares two exponential moving averages of an asset’s price, flashed a \"Buy” signal for the stock, according to data from TradingView.Price Action: At the time of writing, BTC was exchanging hands at $89,097.07, up 0.48% over the last 24 hours, according to data from Benzinga Pro.American Bitcoin shares fell 0.63% in after-hours trading after closing 5.30% higher at $1.590 during Tuesday’s regular trading session.The stock maintains a weaker price trend over the short, medium, and long term, according to Benzinga’s Edge Stock Rankings.Photo courtesy: Maxim Elramsisy / Shutterstock.com$BTCBitcoin$88803.47-0.35%OverviewABTCAmerican Bitcoin Corp$1.58-0.63%GEMIGemini Space Station Inc$9.230.87%GLXYGalaxy Digital Inc$33.561.15%GMEGameStop Corp$24.15-0.25%HUTHut 8 Corp$62.581.20%MSTRStrategy Inc$161.630.03%Market News and Data brought to you by Benzinga APIs© 2026 Benzinga.com. Benzinga does not provide investment advice. 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