Trump-linked American Bitcoin jumps on $1.9 million insider buy

American Bitcoin (NASDAQ: ABTC) shares have risen after filings showed board director Justin Mateen spent about $1.9 million buying its stock.

Despite being more than 95% down from its high, American Bitcoin stock experienced a 10% increase over a 24-hour period.

What is American Bitcoin currently trading at?

Following the purchase of $1.9 million worth of American Bitcoin stocks by Justin Mateen, ABTC shot up by as much as 10% during today’s session, climbing from Friday’s close of $6.47 to its current $7.11 price.

Mateen, who co-founded the dating app Tinder and has sat on American Bitcoin’s board since March 2025, made the purchases across two consecutive sessions. Regulatory filings show he bought about 144,500 shares on August 5 at an average of $6.40, worth roughly $925,000, then added 162,438 shares the next day at $6.19 apiece for about $1 million.

Combined, that came to 306,981 shares for approximately $1.93 million. Mateen now holds 492,297 Class A shares after adjusting for the company’s recent reverse stock split.

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