Trump’s American Bitcoin Is Following MicroStrategy, But Shareholders Feel the Pain

Trump-linked American Bitcoin (ABTC) touted rapid reserve growth and a climb to 15th place among publicly traded bitcoin holders, as Strategy (formerly MicroStrategy) logged its second-largest 2026 Bitcoin (BTC) purchase with a $2 billion buy last week.

The dual disclosures on May 18 highlighted that publicly traded bitcoin treasury vehicles continued to aggressively accumulate, even as BTC spot prices were around 5% below the level recorded the previous week.

Meanwhile, the company’s stock has reached an all-time low, further dropping 8% today.

American Bitcoin Sock Price. Source: Google Finance

American Bitcoin’s Push Up the Rankings

ABTC, co-founded by Eric Trump and Donald Trump Jr., has crossed 7,500 BTC accumulated since its Nasdaq debut last September via a stock-for-stock merger with public miner Hut 8.

The firm now ranks 15th globally among publicly traded bitcoin holders, climbing 15 places in just over eight months.

Top Public Companies Holding BTC. Source: Bitcoin Treasuries

The company reported more than 3x growth in its Bitcoin reserve and over 700 Satoshis per share, more than doubling that metric since its public debut.

Meanwhile, ABTC’s pace has drawn renewed attention to Trump-affiliated digital asset ventures.

Eric Trump has publicly disputed media coverage questioning the firm’s business model, defending the accumulation strategy as competitive with larger treasury operators.

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Strategy Adds 24,869 BTC in Second-Largest Bitcoin Buy of 2026

Elsewhere, MicroStrategy acquired 24,869 BTC for roughly $2.01 billion at an average price of $80,985 last week, lifting holdings to 843,738 BTC worth $63.87 billion at a $75,700 cost basis.

Michael Saylor’s firm reported a 12.6% YTD BTC yield.

The purchase was financed through Strategy’s STRC Perpetual Preferred Share Program. The 8-K showed 19.5 million shares raising $1.95 billion for 24,066 BTC at $81,000, marking the second-largest weekly STRC raise on record.

“Strategy has acquired 24,869 BTC for ~$2.01 billion at ~$80,985 per bitcoin and has achieved BTC Yield of 12.6% YTD 2026,” Saylor announced.

Polymarket odds that Strategy sells any bitcoin before May 31 sat at 41%, with the filing confirming zero sales so far into that period.

Odds of MicroStrategy Selling Bitcoin. Source: Polymarket

Saylor’s firm controls roughly three-quarters of corporate-held Bitcoin and continues toward its 1 million BTC target.

Together, the filings show the largest and the fastest-growing corporate Bitcoin holders kept buying through last week, even as broader treasury demand has slowed across smaller firms in 2026.