American Bitcoin Corp director Busch buys 450K shares amid 90% collapse
In brief
- Busch purchased 450,000 ABTC shares at $0.87, raising direct holdings to 1.85 million
- ABTC stock collapsed 90% from $14.52 high, now trading below $0.90
- Busch joined board September 2025; made three major purchases since December
- Company emerged from American Bitcoin and Gryphon Digital Mining merger
Insider accumulation amid steep decline
Busch now holds 1,848,975 shares directly following the latest transaction. His accumulation has been methodical: 175,000 shares in December 2025, 398,000 shares in early March 2026, and now 450,000 more in mid-June. Each buy has occurred during periods of weakness, often after earnings reports.
The stock traded between $0.83 and $0.90 when Busch made his latest purchase. That's a precipitous drop from where ABTC started the year. The 52-week range sits roughly between $0.77 and $14.52, underscoring the magnitude of the collapse.
The company behind the stock
ABTC emerged from a September 2025 merger between the original American Bitcoin entity and Gryphon Digital Mining. The combined company trades on Nasdaq and focuses on large-scale Bitcoin mining operations paired with Bitcoin treasury strategies. Donald Trump Jr. serves as a senior advisor, while Eric Trump holds a strategic role.
Busch, a partner at the law firm King & Ballow, joined the board in September 2025. His sustained buying despite the stock's decline suggests he views current prices as an opportunity rather than a warning sign. Justin Mateen, another notable figure associated with the company, has also made open-market purchases.
Whether Busch's pattern reflects genuine confidence in a turnaround or simply a contrarian bet on a deeply depressed asset remains unclear. What's evident: he's putting capital behind his board seat at a time when most investors have fled.
