Eric Trump’s American Bitcoin bought $34 million in BTC during November slump
American Bitcoin, the bitcoin mining and accumulation firm co-founded by Eric and Donald Trump Jr., revealed that it recently added 363 BTC to its treasury.According to the company’s Wednesday announcement, American Bitcoin’s total bitcoin holdings, as of Dec. 2, grew to 4,367 BTC. The company had reported holdings of 4,004 BTC in its previous disclosure on Nov. 7. This indicates that American Bitcoin bought more of the world’s largest cryptocurrency during its November slump, where it fell to a low of nearly $82,000 from a peak of $126,000 a month earlier.“Strategic accumulation continues,” the company said in its Wednesday post on social media platform X.Meanwhile, the firm experienced a steep 38% drop in its stock price after shares from its pre-merger private placement unlocked on Tuesday. After shares dropped to a closing price of $2.19, they recovered 9.13% on Wednesday to close trading at $2.39. Co-founder Eric Trump said the volatility was expected, but expressed confidence in the company’s fundamentals.American Bitcoin reported strong third-quarter results, with revenue rising to $64.2 million from $11.6 million year-over-year, and net income reaching $3.5 million compared to a $0.6 million net loss a year earlier.Bitcoin has recently been recovering from its dip last month. It is up 0.64% in the past day and is trading around $93,332, according to The Block’s bitcoin price page.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.