On September 4, mining company American Bitcoin (NASDAQ: ABTC) delivered a strong performance on its first trading day, with its stock price rising nearly 17% to $8.04, briefly hitting an intraday high of $14. The daily trading volume exceeded 29 million shares. The company disclosed that its Bitcoin holdings have increased to 2,443 BTC, with a total value of approximately $273 million, a significant jump from the previously reported 152 BTC. Analysts noted that Eric Trump's equity holdings have surpassed $500 million in market value.
On monetary policy, Federal Reserve Governor Christopher Waller expressed support for a rate cut at the next meeting and hinted at the possibility of entering a rate-cutting cycle. Meanwhile, the Fed plans to hold a digital assets-focused meeting in October, with discussions centered on stablecoins and tokenization of financial products. Controversy arose as Donald Trump attempted to dismiss Federal Reserve Governor Lisa Cook, with economists warning that such actions could undermine the Fed's independence.
QCP highlighted that the market is shifting its focus from rate-cut expectations to concerns over risks to the Fed's independence. Demand for safe-haven assets like gold and Bitcoin is rising, though volatility remains high. Investors should closely monitor how policy changes and macroeconomic conditions impact the market.
