American Bitcoin Corporation Lists on Nasdaq with $273 Million in BTC Holdings
American Bitcoin Corporation, supported by Trump’s sons and mining company Hut 8, launched on Nasdaq under the ticker ABTC after merging with Gryphon Digital Mining.
Key points include:
- As of September 3, American Bitcoin held 2,443 BTC valued at approximately $273 million, up from 152 BTC earlier.
- The firm plans to raise up to $2.1 billion in Class A common stock for Bitcoin purchases and corporate purposes.
- ABTC shares surged 72% during initial trading on Nasdaq.
- Company strategy involves self-mining and buying Bitcoin, benefiting from Hut 8's infrastructure.
- American Bitcoin aims to enhance shareholder value through strategic asset management.
Bitcoin traded at $111,820 on Wednesday, with resistance at $112,865. The price could rise towards $115,000–$118,000 if it breaks above that level. Support is found around $106,795.
The Nasdaq listing of ABTC has attracted institutional interest, boosting liquidity towards projects like Best Wallet (BEST), which has raised over $15.5 million in its presale.