American Bitcoin surpasses Galaxy Digital in Bitcoin holdings

American Bitcoin, backed by the Trump family, has surpassed Galaxy Digital in Bitcoin holdings, tripling its BTC reserve since its 2025 IPO. This milestone was reached despite American Bitcoin's stock price falling to its lowest point since the IPO, indicating a decoupling between the company's cryptocurrency holdings and its market valuation.

The narrative has driven a divergence in performance between American Bitcoin and Galaxy Digital. While American Bitcoin's stock has plummeted, Galaxy Digital has surged, gaining 11% in a single day and 50% over five days, buoyed by its ambitious digital infrastructure development goals. This disparity suggests that investors are valuing Galaxy Digital's strategic vision more than American Bitcoin's Bitcoin holdings, given the latter's stock performance.

Investors should watch American Bitcoin's upcoming earnings report (due in late March) for clarity on its operational performance and Bitcoin mining profitability. Additionally, the evolving regulatory landscape for cryptocurrencies, particularly in the U.S., will impact both American Bitcoin and Galaxy Digital, making regulatory developments a key catalyst to monitor.