American Bitcoin, a cryptocurrency mining firm with ties to the Trump family, is reportedly exploring the acquisition of at least one publicly traded business in Asia. This move is intended to facilitate the expansion of its BTC (Bitcoin) holdings.
A recent report in the Financial Times indicates that American Bitcoin is considering purchasing a company in Japan, with a potential second acquisition in Hong Kong. The strategy mirrors that of Strategy, a company that has amassed a considerable Bitcoin treasury. Currently, Strategy holds 628,946 BTC, valued at approximately $73.8 billion.
In a statement to the Financial Times on Friday, American Bitcoin stated that its “goal is to create the most robust and efficient Bitcoin accumulation platform worldwide.” The company further clarified, “We are assessing opportunities in specific regions, but no legally binding commitments have been made at this time.”
Cointelegraph reached out to American Bitcoin for comment but did not receive a response before publication.
American Bitcoin, a venture within the Trump family’s growing portfolio of cryptocurrency-related businesses, was co-founded by Donald Trump, Jr. and Eric Trump, sons of former US President Donald Trump. In May, the company announced plans to become publicly listed through a merger with Gryphon Digital Mining, a crypto mining company already trading on the Nasdaq.
American Bitcoin has initiated a Bitcoin treasury, reporting holdings of 215 Bitcoin as of June 10. On June 30, the company announced that it had secured $200 million in funding to expand both its Bitcoin treasury and its Bitcoin mining infrastructure.
Related: American Bitcoin Aims to Lead Bitcoin Mining, Says Hut 8 CEO
Bitcoin Treasury Strategies Gain Popularity Near All-Time Highs
The Bitcoin treasury strategy, popularized by Michael Saylor’s Strategy, has seen increased adoption as the cryptocurrency nears its historical price peaks.
Strategy recently acquired an additional 155 BTC, valued at $18 million, for its balance sheet. This latest purchase brings their total holdings to 628,946 BTC, solidifying their position as a major Bitcoin treasury holder.
On Tuesday, Metaplanet, a Japanese Bitcoin treasury company, announced the acquisition of 518 BTC, raising its total holdings to 18,133 coins, worth approximately $2.1 billion.
Data from BitcoinTreasuries.NET indicates that publicly listed companies currently hold 976,132 Bitcoin, with an estimated value of $114.6 billion. Private companies possess an additional 294,101 coins, valued at $34.5 billion at the time of this report.
Experts cite Bitcoin’s capped supply of 21 million coins as a major driver of its appeal, especially within a context of currency devaluation and inflationary pressures.
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