Richard Busch, a board member at American Bitcoin (ABTC), acquired 68,000 shares of the Nasdaq-listed Bitcoin mining company at an average price of $1.15, a transaction valued at $78,200, according to a new SEC filing.
With the latest purchase, Busch now holds approximately 1.4 million ABTC shares, valued at about $1.5 million based on Monday’s closing price. The stock has fallen 35% year to date amid volatility across crypto-related equities, per Yahoo Finance.
The purchase signals continued insider confidence in the Trump family-backed firm as it pursues aggressive Bitcoin accumulation strategies.
American Bitcoin controls 6,500 Bitcoin valued at above $450 million, placing it 17th among corporate BTC holders.
The company operates from Miami and has positioned itself as a Bitcoin infrastructure company that combines self-mining operations with direct Bitcoin accumulation to build strategic reserves.
Eric Trump, who co-founded the company, serves as Chief Strategy Officer and has been instrumental in shaping the firm’s approach to the steady expansion of its Bitcoin holdings across varying market conditions.