American Bitcoin Corp. (NASDAQ:ABTC) co-founder Eric Trump celebrated on Wednesday after the company surpassed Galaxy Digital Inc. (NASDAQ:GLXY) in accumulating Bitcoin (CRYPTO: BTC).

‘Climbing The Ladder Faster’

Trump took pride in the achievement on X, adding, “No company is climbing the ladder faster. Up, up, up we go!”

As of this writing, American Bitcoin holds 6,899 BTC, worth $489 million, surpassing not only Galaxy but also other popular companies such as GameStop Corp. (NYSE:GME) and Gemini Space Station Inc. (NASDAQ:GEMI).

Michael Saylor's Strategy Inc. (NASDAQ:MSTR) tops the list, with over $53 billion worth of Bitcoin on its balance sheet.

Long-Term Strategy To Increase Bitcoin

American Bitcoin posted 159% year-over-year revenue growth in 2025, according to its fourth-quarter earnings report. Trump emphasized during the earnings call that the firm’s core long-term strategy is to increase Bitcoin on its balance sheet.

What’s The State Of ABTC Stock?

American Bitcoin, a majority-owned subsidiary of Hut 8 Corp. (NASDAQ:HUT), began trading on Nasdaq on Sept. 3, 2025. However, the stock has tumbled 87% since launch, in part due to Bitcoin’s decline and the expiration of ABTC's lock-up period, which allowed early investors to sell their shares and realize profits.

Year-to-date, American Bitcoin lags Galaxy significantly, as shown below.

StockYTD Gains +/-
American Bitcoin-39.41%
Galaxy Holdings               -3.49%

Despite the unimpressive performance, Roth Capital and HC Wainwright & Co. initiated coverage of the stock with a "Buy" rating and set a price target of $4,  representing a 288.39% upside.

Price Action: At the time of writing, BTC was exchanging hands at $70,798.97, down 4.66% over the last 24 hours, according to data from Benzinga Pro.

American Bitcoin shares fell 0.01% in after-hours trading after closing 2.83% lower at $1.03 during Wednesday’s regular trading session.

Benzinga’s Edge Stock Rankings highlighted a weaker price trend for the stock across short-, medium-, and long-term.

Photo Courtesy: Maxim Elramsisy On Shutterstock.com