The Trump family endorses American Bitcoin (ABTC.US) increasing its holdings by 1414 bitcoins, with total holdings nearing 4000 bitcoins.

American Bitcoin (ABTC.US), a Bitcoin mining company supported by the two sons of US President Trump, announced on Monday that the company has increased its holdings to approximately 1414 bitcoins. In response to this news, American Bitcoin's stock price rose more than 8% in pre-market trading. As of October 24, the company holds a total of about 3865 bitcoins through self-mining and strategic acquisitions, including custody assets and bitcoins pledged for mining machine purchases under an agreement with Bitmain. Asher Genoot, Chairman of American Bitcoin, said: "The core difference between American Bitcoin and most traditional bitcoin holding institutions is that we have an integrated mining business. By directly mining bitcoins, we are able to lower the average cost per bitcoin, creating a cost advantage compared to institutions that only acquire through the open market."