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Richard Busch, an independent director at American Bitcoin Corp, purchased $391,500 worth of the company’s Class A Common Stock, buying 450,000 shares at a weighted average price of $0.87 per share.
After the transaction, Busch directly holds 1,848,975 shares of ABTC.
The purchase is part of a broader pattern of open-market accumulation. Busch, a partner at the law firm King & Ballow, has been steadily buying ABTC shares since joining the board in September 2025.
According to the article, each purchase occurred during periods of price weakness, often following earnings reports. The latest buy took place when the stock was trading between $0.83 and $0.90 in mid-June, near the bottom of its 52-week range of roughly $0.77 to $14.52.
American Bitcoin Corp (ABTC) was formed following a September 2025 merger between the original American Bitcoin entity and Gryphon Digital Mining. The combined company trades on Nasdaq under the ticker ABTC.
The article describes ABTC as focused on large-scale Bitcoin mining operations paired with Bitcoin treasury strategies. It also notes that Donald Trump Jr. serves as a senior advisor and Eric Trump holds a strategic role, connections that have been part of ABTC’s public identity since the merger.
The article highlights that ABTC’s 52-week range reflects a sharp decline from its peak. With the stock having traded as high as about $14.52 and now below $0.90, it has fallen by more than 90% from its highs.
It also notes that Busch’s purchases have taken place after earnings reports, when sentiment is described as weakest, and that the buys represent multiple open-market transactions over a seven-month period at prices the director appears to view as attractive.
Finally, the article points out that when a stock trades below $1, some institutional mandates may restrict ownership, which can contribute to selling pressure independent of company fundamentals.
Ready Card users outside the European Economic Area have reportedly faced an abrupt service halt after a transition involving the card issuer disrupted the USDC spending product, according to user notices shared on X.
A notice shared…
