The post American Bitcoin board member Richard Busch buys $290,500 in ABTC shares appeared on BitcoinEthereumNews.com. Key Takeaways Board member Richard Busch The post American Bitcoin board member Richard Busch buys $290,500 in ABTC shares appeared on BitcoinEthereumNews.com. Key Takeaways Board member Richard Busch

American Bitcoin board member Richard Busch buys $290,500 in ABTC shares

Key Takeaways

  • Board member Richard Busch acquired 175,000 shares of American Bitcoin Corp for $290,500.
  • The share purchase occurred during a price decline and the company is backed by the Trump family.

Richard Busch, a board member and director of American Bitcoin, the Bitcoin-focused company led by the two Trump sons, acquired 175,000 ABTC shares for around $290,500, according to a recent SEC disclosure.

Following the transaction, Busch now holds approximately 900,000 ABTC shares, valued at about $1.4 million based on Thursday’s closing price. Shares rose about 5% in premarket trading on Friday, according to Yahoo Finance.

The stock has struggled in recent weeks, pressured by the release of pre-merger private placement shares into the public market. Over the past month, it has fallen roughly 68%.

American Bitcoin has entered the top 20 list of publicly traded companies holding Bitcoin treasuries, with a reported reserve of 5,098 BTC, valued at approximately $447 million. The company continues to boost its holdings through mining and strategic purchases.

Source: https://cryptobriefing.com/american-bitcoin-purchase-busch/

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