Trump-backed American Bitcoin flips ProCap in corporate BTC treasury race
Corporate Bitcoin buying continues as American Bitcoin surpasses ProCap, even as proxy stocks decline and volatility grips the crypto market.
Bitcoin’s months-long slide hasn’t stopped corporate treasury companies from accumulating the digital asset, with the Eric Trump-backed American Bitcoin overtaking ProCap Financial, founded by entrepreneur Anthony Pompliano, in total Bitcoin holdings.
American Bitcoin has added more than 1,000 Bitcoin (BTC) to its reserves since the start of December, lifting its total holdings to 5,044 BTC, valued at roughly $443 million, according to data from industry tracker BitcoinTreasuries.NET.
ProCap Financial, established to build a Bitcoin-focused financial platform and investment vehicle, has slipped to 22nd place among corporate holders, holding approximately 5,000 BTC. The company has also increased its Bitcoin balance in recent weeks, according to the data.