ABTC Stock Surges 13% as Executive Buys $1.93M in Shares

ABTC shares jump 13% to $7.38, lifting market cap to $533M. Director Justin Mateen purchased 306,981 shares for $1.93M over two days.

Woofun AI reports that ABTC stock climbed over 13% to $7.38 per share, expanding the market capitalization to $533 million. Justin Mateen, director of American Bitcoin and co-founder of Tinder, acquired shares for two consecutive days following the release of quarterly earnings.

Regulatory filings indicate Mateen purchased 145,000 Class A common shares on August 5 for approximately $925,000 at an average price of $6.40. On August 6, he bought another 162,000 shares worth roughly $1 million at an average price of $6.19. These transactions totaled 306,981 shares, bringing his total holdings to 492,297 shares.