Stock Track | American Bitcoin (ABTC) Soars 5.19% as Eric Trump Urges Investors to "Buy the Dip" in Bitcoin

Stock Track

Nov 24

Shares of American Bitcoin Corp. (NASDAQ:ABTC) surged 5.19% in 24 hours, as the company's co-founder Eric Trump reiterated his bullish stance on Bitcoin and encouraged investors to capitalize on the current market dip. The stock's upward movement comes amid a broader rally in crypto-related shares.

In a recent interview with CNBC, Trump, who is also the executive vice president of the Trump Organization, emphasized that "This is a great time to buy Bitcoin. There's no question." He repeated his belief that Bitcoin would eventually reach $1 million per coin, although he acknowledged it would take "some years" to achieve this milestone. Trump's optimism is backed by American Bitcoin's substantial holdings of 4,004 BTC, valued at approximately $350 million.

The surge in ABTC's stock price aligns with a broader trend observed in crypto-related shares during overnight trading. Other companies in the sector, such as Bakkt Holdings, IREN, Bitfarms, and Bit Digital, also experienced significant gains ranging from 4% to 5%. This movement suggests a renewed investor interest in cryptocurrency-related stocks, possibly fueled by industry leaders' positive outlook and the potential for market recovery.

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