The Trump family-owned American Bitcoin increases Bitcoin holdings against the market trend, approaching $500 million in holdings

Despite Bitcoin’s recent price dropping below the $90,000 threshold, American Bitcoin Corp, supported by the Trump family, has counterintuitively increased its holdings by 261 Bitcoins, bringing its total reserves to 5,044 BTC, valued at approximately $450 million at current prices. This move has propelled it above institutions like Gemini Exchange and GameStop in the listed company Bitcoin holdings rankings, rising to 21st place and nearing the top twenty. Meanwhile, publicly traded companies led by MicroStrategy continue to buy, indicating that institutional investors’ long-term strategy of “buying the dip” amid market volatility remains unchanged.

Countertrend Buying Gamble: Institutional Confidence in Market Declines

When Bitcoin’s price recently slipped to around $89,700, market sentiment was filled with hesitation, but American Bitcoin Corp chose a different approach. On Monday, the company confirmed on social platform X that it had purchased an additional 261 BTC, marking another precise “accumulation” in a volatile market. This purchase pushed its total Bitcoin holdings past 5,000, reaching 5,044 BTC. According to BitcoinTreasuries.NET, the total value of its holdings exceeds $450 million.

This accumulation was not an isolated event. On the same day, MicroStrategy—Bitcoin’s largest corporate holder—announced its largest purchase since late July, acquiring 10,645 BTC at a cost of about $980 million, bringing its total purchases this month to 21,268 BTC. Both organizations acted during the price correction, sending a clear signal: for long-term-oriented institutions, price fluctuations are opportunities for accumulation rather than risks.

From an industry perspective, 2025 is dubbed by Bitwise Chief Investment Officer Matt Hougan and others as Bitcoin’s “IPO moment,” a phase where early investors realize profits through public companies, ETFs, and other channels. However, the ongoing buying by companies like American Bitcoin Corp and MicroStrategy suggests some investors are choosing to transcend this cycle, viewing Bitcoin as a core reserve asset to hold long-term rather than a short-term trading instrument.

The Competition for Holdings Heats Up: American Bitcoin Surpasses ProCap

In the silent race for the top Bitcoin holdings among listed companies, competition is fierce. With its latest addition, American Bitcoin Corp’s total holdings reach 5,044 BTC, surpassing ProCap Financial, founded by renowned entrepreneur Anthony Pompliano, which currently holds about 5,000 BTC and ranks 22nd. Only Semler Scientific with 5,048 BTC remains ahead, just a step away from entering the top twenty.

Behind this “race” are two different business models colliding. American Bitcoin Corp originated from a Bitcoin mining company and went public via reverse merger, focusing on Bitcoin mining and accumulation, with a clear family investment flavor. ProCap Financial aims to build a Bitcoin-focused financial platform and investment tools, opting for a SPAC (Special Purpose Acquisition Company) to raise $750 million. Despite differing paths, both heavily allocate company assets into Bitcoin, reflecting the growing trend of “Bitcoin on the balance sheet” as a corporate financial strategy.

According to BitcoinTreasuries.NET, the total Bitcoin holdings of the top 100 publicly listed companies worldwide have surpassed 1.08 million BTC. This ever-growing number represents a resilient “holding force” within the Bitcoin market; their large-scale buying and selling behaviors often have a profound impact on market liquidity and bottom price formation. The shifting ranks of American Bitcoin and ProCap exemplify this silent competition.

American Bitcoin Corp Key Holding Data

Total Holdings: 5,044 BTC

Latest Purchase: 261 BTC (Monday)

Total Valuation: approximately $450 million (at $89,700 per BTC)

Global Rank: 21st (Public company holder)

Surpassed: ProCap Financial, Gemini Exchange

Target Rank: 20th (Needs to surpass Semler Scientific’s 5,048 BTC)

Stock Price Pressure and Strategic Resolve: Short-term Volatility vs. Long-term Narrative

Contrasting with steady growth in Bitcoin holdings is American Bitcoin Corp’s stock price, which is under severe pressure. On Monday, amid Bitcoin’s dip to around $85,600, its stock initially rose slightly pre-market but ultimately plummeted about 4%. Over the past month, the stock has declined approximately 64%, making it one of the most adversely affected Bitcoin concept stocks.

The downward pressure mainly stems from structural market changes. Previously, a large volume of private placement shares resulting from mergers entered the public market, exerting sustained selling pressure. This “increase in circulating shares” short-term negative factor masks the long-term fundamentals of the company’s growing Bitcoin treasury. Similarly, MicroStrategy’s stock has fallen over 60% from its all-time high, indicating a market-wide reassessment of high-beta (high-volatility) Bitcoin exposure stocks.

However, this short-term divergence between stock price and core asset (Bitcoin) value underscores the management’s strategic resolve. American Bitcoin Corp explicitly positions itself as a “long-term Bitcoin holder,” with a strategy to strategically expand reserves during market downturns. This “ignoring price fluctuations to focus on asset accumulation” approach requires shareholders to strongly believe in the company’s long-term vision and tests the management’s ability to execute amid public opinion and market cap pressures. For investors, a key question arises: should they prioritize short-term stock performance or trust the ultimate value created by long-term Bitcoin accumulation?

Signals of Market Structural Shift: From ETF to Corporate Treasury Capital Rotation

American Bitcoin Corp’s accumulation is an excellent case study of the current shift in the Bitcoin market’s capital structure. By 2025, massive capital inflows through spot Bitcoin ETFs have met the demand of traditional institutional and retail investors. Meanwhile, companies like American Bitcoin and MicroStrategy, which directly record Bitcoin on their balance sheets, represent a more “native” and steadfast capital force. Both channels coexist, jointly building the institutional foundation of Bitcoin.

Market analysts compare the current phase to a “IPO moment,” a time when early believers transfer their chips to a new generation of institutional investors. Jordi Visser of 22V Research told Pompliano that in the traditional world, this is when founders and venture capitalists realize gains and distribute returns to limited partners. In the crypto world, this process occurs through secondary market trading and mergers and acquisitions. The current accumulation by companies like American Bitcoin can be seen as “the new generation” of institutions absorbing market selling pressure and completing a generational shift in capital.

Looking ahead, the competition for listed company Bitcoin holdings will not cease. Despite short-term volatility in proxy stocks, as long as the long-term narrative of “Bitcoin as a store of value” remains intact, buying on dips remains a valid strategy. For retail investors, this highlights a key perspective: besides paying attention to spot Bitcoin prices, closely monitor these major holder companies’ dynamics, as their collective actions often serve as important indicators of market deep convictions and capital flows. Today’s market volatility may well be a test of who truly embodies “long-termism.”