Corporate Bitcoin buying continued as American Bitcoin surpassed ProCap, even as proxy stocks declined and volatility gripped the crypto market.
Bitcoin’s recent volatility 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 about $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 about 5,000 BTC. The company has also increased its Bitcoin balance in recent weeks, according to the data.
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