Mateen's $2M Bet on American Bitcoin Despite Recent Losses

Justin Mateen, co-founder of Tinder and independent director at American Bitcoin Corp, has made a significant investment in the company's Class A common stock. On March 3, 2026, he purchased 1.8 million shares at an average price of $1.03 per share, totaling roughly $1.85 million. This move comes after American Bitcoin reported a Q4 2025 loss of $59 million, largely due to bitcoin price fluctuations.

Mateen wasn't the only director making investments; fellow board member Richard Busch also made purchases around the same period. Mateen's investment is notable not just in terms of size but also timing, as it suggests confidence in American Bitcoin's prospects despite its recent financial struggles.

American Bitcoin operates a dual-track strategy, combining traditional self-mining operations with direct Bitcoin purchases for its corporate treasury. The company has amassed over 8,000 BTC in its treasury by early August 2026. The unusual accounting mechanics of holding Bitcoin on balance sheets also contribute to the paper losses seen in Q4 2025.

The Trump connection is another aspect of American Bitcoin's story. Eric Trump serves as co-founder and chief strategy officer, while Donald Trump Jr. holds a stockholder position, together owning approximately 20% of the company.