Trump-backed American Bitcoin overtakes ProCap in BTC treasuries
American Bitcoin, backed by Eric Trump, has surpassed ProCap Financial in total corporate Bitcoin reserves, continuing a wave of accumulation among treasury-focused firms despite market volatility and weaker performance in Bitcoin proxy equities.
Since the start of December, American Bitcoin has added more than 1,000 Bitcoin (BTC) to its holdings, bringing its total to 5,044 BTC, valued at roughly $443 million, according to industry tracker BitcoinTreasuries.NET. ProCap Financial, founded by Anthony Pompliano, now holds approximately 5,000 BTC and has slipped to 22nd place among corporate holders. The data also show ProCap has increased its balance in recent weeks.
American Bitcoin went public earlier this year through a reverse merger with Gryphon Digital Mining. The company debuted in March following a rebrand from American Data Center and was introduced by Donald Trump Jr. and Eric Trump.
ProCap went public after completing a $750 million fundraising round during the summer via a special-purpose acquisition company, aiming to provide investors with exposure to Bitcoin and the broader digital-asset sector.
Bitcoin proxy stocks come under pressure
Bitwise chief investment officer Matt Hougan has described 2025 as Bitcoin’s “IPO moment,” a characterization echoed by other Wall Street veterans who say early investors are realizing significant gains as new capital flows in through exchange-traded funds and corporate buyers.
“In the traditional world, this moment is called an IPO. It’s the moment when early believers cash out, when founders become wealthy, when venture capitalists return money to their limited partners,” Jordi Visser of 22V Research said during a recent podcast episode with Anthony Pompliano. See the full conversation here.
The corporate Bitcoin treasury buildout has accelerated, with the top 100 publicly listed holders collectively amassing more than 1.08 million BTC. Meanwhile, shares of companies with direct Bitcoin exposure—through treasury positions or core business activities—have seen renewed volatility amid a broader repricing of risk when viewing the Google Search.
American Bitcoin has been among the most affected, with its stock falling more than 50% in a single session earlier this month. Shares of Strategy, led by Michael Saylor, are down more than 60% from their all-time high, underscoring the pressure facing Bitcoin-focused treasury firms.
Despite the turbulence, companies have continued to purchase BTC. Strategy said Monday that it acquired more than 10,000 BTC last week, lifting its two-week total to over 20,000 BTC.
Stay informed, read the latest news right now!
Disclaimer
The content on TrustsCrypto.com is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile, always do your own research before making decisions.
Some content may be assisted by AI and reviewed by our editorial team, but accuracy is not guaranteed. TrustsCrypto.com is not responsible for any losses resulting from the use of information provided.
