US Bitcoin Board Member Richard Bush Buys $290,500 in ABTC Shares
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Board member Richard Bush acquired 175,000 American Bitcoin Corp shares for $290,500. The stock purchase was made at a time when the company was undervalued and the company is backed by the Trump family.
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Richard Bush, a board member and director of American Bitcoin, a bitcoin-focused company run by two of Trump's sons, acquired 175,000 ABTC shares worth about $290,500, according to a recent SEC filing.
Following the transaction, Bush now owns 900,000 ABTC shares, worth $1.4 million based on Thursday's closing price. Shares rose nearly 5 percent in premarket trading 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. Last month, it fell nearly 68 percent.
American Bitcoin entered the top 20 list of publicly traded companies holding Bitcoin reserves, with a reported reserve of 5,098 BTC, worth approximately $447 million. The company continues to expand its holdings through mining and strategic acquisitions.
