American Bitcoin Adds 500 BTC, Becomes 16th-Largest Corporate Bitcoin Holder

American Bitcoin has added another 500 BTC to its reserves, increasing its total holdings to 8,000 BTC and placing it among the world’s top 16 publicly traded companies by Bitcoin holdings.

The latest acquisition follows the company’s announcement last week of a 1-for-15 reverse stock split to keep its shares compliant with Nasdaq listing requirements. The move reduced the number of outstanding shares from approximately 1.09 billion to around 73 million.

Despite expanding its Bitcoin holdings, American Bitcoin’s stock performance has remained under pressure, with shares down more than 60% so far this year.

Source: American Bitcoin