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American Bitcoin Director Buys 175,000 Shares Amid 68% Stock Drop

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Bitcoin news broke Friday as Richard Bush, a director of American Bitcoin, bought 175,000 ABTC shares at $290,500 each after a 68% stock drop. The decline was driven by stock unlock pressure, as pre-IPO shares flooded the market. Bush now owns nearly 900,000 shares, valued at $1.4 million. The stock rose 5% in pre-market trading. American Bitcoin holds 5,098 bitcoins, worth $447 million, and remains a top corporate Bitcoin holder. Bitcoin analysis suggests the purchase could signal confidence in the firm’s long-term strategy.
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