American Bitcoin, a cryptocurrency mining company related to the Trump family, plans to acquire at least one publicly listed company in Asia to increase its holdings of bitcoins (BTC).
According to the Financial Times, American Bitcoin hopes to make acquisitions in Japan and possibly Hong Kong, following the model of Strategy, which currently holds 628,946 BTC.
American Bitcoin states that its goal is to establish the world's most powerful Bitcoin accumulation platform. While it is currently evaluating opportunities in multiple regions, no binding commitments have been made yet.
American Bitcoin is part of the Trump family's cryptocurrency business, founded by Donald Trump, Jr. and Eric Trump, sons of President Trump. In May, the company announced its public listing through a merger with Gryphon Digital Mining, which is listed on Nasdaq.
The company has launched a Bitcoin treasury, holding 215 bitcoins as of June 10, and announced on June 30 that it had secured $200 million in funding to enhance its treasury and purchase more mining equipment.
Driven by Michael Saylor, the Bitcoin treasury company continues to increase its holdings, despite Bitcoin's price nearing all-time highs.
On Monday, Strategy increased its holdings to 628,946 BTC, while Japan's Metaplanet purchased 518 BTC on Tuesday.
According to data from BitcoinTreasuries.NET, public companies hold a total of approximately 976,132 bitcoins, valued at around $11.46 billion.
Experts say that the limited supply of 21 million bitcoins is one of its attractions in an environment of currency devaluation and inflation.
